[GTOrleans]

My dealer said my score wouldn't be an issue but just wanted to check with the guru's on here, 650 will qualify on their teir 1, prime rate, whatever BMW refers to it as, basically looking for the best financing level possible?

[normtrum]

Originally Posted by GTOrleans

My dealer said my score wouldn't be an issue but just wanted to check with the guru's on here, 650 will qualify on their teir 1, prime rate, whatever BMW refers to it as, basically looking for the best financing level possible?

I might be wrong, but I don't think so. I thought 700 was the cut off.

[phantom330]

700+ is considered the "elite" tier, but it really shouldn't be an issue as most rates are subvented and aren't credit tiered anyways. What are you looking at getting? Lease or purchase?

[GTOrleans]

Well when they bring the lease specials back, i'm probably going to hop on one of the 328I lease programs, and just upgrade to metallic paint and xenons. He got my buddy qualified into those programs with a 619 fico so he said ill be easier than him, he said since i was once financed through Audi, that would help the app. decision. I'm not too worried, but i just knew MB were fico freaks, i was like teir 4 for them or something, they're teir 1 is like a 740, thats 20 points above prime.

[phantom330]

Originally Posted by GTOrleans

Well when they bring the lease specials back, i'm probably going to hop on one of the 328I lease programs, and just upgrade to metallic paint and xenons. He got my buddy qualified into those programs with a 619 fico so he said ill be easier than him, he said since i was once financed through Audi, that would help the app. decision. I'm not too worried, but i just knew MB were fico freaks, i was like teir 4 for them or something, they're teir 1 is like a 740, thats 20 points above prime.

a 328i is always going to have the special rate factor, they do right now as well and it isn't credit tiered. BMWFS really doesn't buy on score, experience and other experience with high end auto makers makes the deal, as long as you paid those well.

[Sedan_Clan]

Originally Posted by phantom330

a 328i is always going to have the special rate factor, they do right now as well and it isn't credit tiered. BMWFS really doesn't buy on score, experience and other experience with high end auto makers makes the deal, as long as you paid those well.

Exactly!

All BMWFS cares about is how you've paid them (..and other manufacturers) in the past, and the largest amount that you've borrowed in terms of auto financing.

[valdeztke]

I just went round and round with BMWFS. They denied my application for a lease even though I have a 700+ score. They stated that my current records indicate an too many vehicle commitments; in other words what my credit report shows I'm paying a month for cars is more than what BMW thinks I can afford. I even offered to pay my lease in full up front - not that I would do this, but it was an offer to show them I had the $$$$. I've had two 335's through BMWFS so it amazes me they would deny my application.

Oh well ... back to the drawing board on this one.

[vbb]

Originally Posted by valdeztke

I just went round and round with BMWFS. They denied my application for a lease even though I have a 700+ score. They stated that my current records indicate an too many vehicle commitments; in other words what my credit report shows I'm paying a month for cars is more than what BMW thinks I can afford. I even offered to pay my lease in full up front - not that I would do this, but it was an offer to show them I had the $$$$. I've had two 335's through BMWFS so it amazes me they would deny my application.

Oh well ... back to the drawing board on this one.

That doesn't make much sense at all. How many cars are you paying for at the present?