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  #1  
Old 10-15-2012, 07:50 PM
kra5050 kra5050 is offline
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Mein Auto: '11 WRX
BMW Lease and Credit Score

What is the minimum credit score that needed to get into a lease? I know there probably is no one correct answer, but I was looking to get a ballpark range. I've had a car loan for the past 4 years ($310 and $415) with no missed payments if that helps. I'm hoping to lease a 328 or 335 in the next 3-6 months.


My current credit score is in the low 600s and wanted to wait as long as possible for it to come back up to apply (when I know I have better chances to get approved) so I don't get dinged for a check.

Also, are there any sponsored dealers on the East Coast (Richmond) area that are preferred around here?
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  #2  
Old 10-15-2012, 09:19 PM
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miamiboyca miamiboyca is offline
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Do a search - this info is available. You will get approved but will pay higher interest rate.
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  #3  
Old 10-16-2012, 04:17 PM
Daniel@Pacific BMW Daniel@Pacific BMW is offline
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Quote:
Originally Posted by kra5050 View Post
What is the minimum credit score that needed to get into a lease? I know there probably is no one correct answer, but I was looking to get a ballpark range. I've had a car loan for the past 4 years ($310 and $415) with no missed payments if that helps. I'm hoping to lease a 328 or 335 in the next 3-6 months.


My current credit score is in the low 600s and wanted to wait as long as possible for it to come back up to apply (when I know I have better chances to get approved) so I don't get dinged for a check.

Also, are there any sponsored dealers on the East Coast (Richmond) area that are preferred around here?
BMW generally will not accept anything under a 575 credit score. If you are above that then there is a chance, but they will have to look at the big picture to see if they will approve you or not. Hope this helps.
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  #4  
Old 10-17-2012, 07:44 PM
kra5050 kra5050 is offline
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Location: Richmond
 
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Thanks! I actually talked to them today and got some stuff sorted out. I paid off a card in full this week, so my credit utilization dropped a ton bringing my score up.

If I don't get approved right now I'm just ordering the exact car I want since it will be hard / impossible to find anyway.
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