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  #1  
Old 11-19-2012, 12:05 PM
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DJHomie DJHomie is offline
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Credit Score

Hey guys, what is a good credit score to land a lease from BMW? Just checking out all of my options, thanks..
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  #2  
Old 11-19-2012, 02:29 PM
cchrisv cchrisv is offline
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With BMW if you have the income to back the lease anything over 600 should get you approved. They look at the contents of your credit report to determine approval. However, your score determines which tier you fall into. If you are not in top tier there is a markup of sorts applied to their base rate.
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  #3  
Old 11-19-2012, 04:08 PM
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DJHomie DJHomie is offline
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Gotcha, thanks Chris..
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  #4  
Old 11-19-2012, 06:25 PM
Daniel@Pacific BMW Daniel@Pacific BMW is offline
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Quote:
Originally Posted by DJHomie View Post
Hey guys, what is a good credit score to land a lease from BMW? Just checking out all of my options, thanks..
For a lease normally you want 675 or above. Anything less and there may be an added fee for being in a lower tier, as mentioned by the previous post.
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  #5  
Old 11-19-2012, 06:39 PM
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DJHomie DJHomie is offline
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Thanks Daniel.. Do dealerships use the same credit scores as FICO, or do they have their own way of doing things.
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  #6  
Old 11-19-2012, 06:44 PM
Daniel@Pacific BMW Daniel@Pacific BMW is offline
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Dealers will pull an Auto FICO which is specifically used for a car purchase.
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  #7  
Old 11-19-2012, 06:49 PM
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DJHomie DJHomie is offline
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In your experience Daniel, does this score copy the Fico or is it usually lower. Thx for your help.
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  #8  
Old 11-19-2012, 06:52 PM
Daniel@Pacific BMW Daniel@Pacific BMW is offline
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I've seen both. Sometimes it higher and sometimes its lower so its hard to predict from what I've seen.
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  #9  
Old 11-19-2012, 06:55 PM
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DJHomie DJHomie is offline
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ok thx.
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  #10  
Old 11-19-2012, 07:17 PM
cchrisv cchrisv is offline
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Quote:
Originally Posted by DJHomie View Post
In your experience Daniel, does this score copy the Fico or is it usually lower. Thx for your help.
This is based on your auto experience. If you have no auto history it will likely be lower. If you have late payments etc then it will be lower. However, if you have no late payments etc then it will likely be higher.

The auto enhanced score weights your auto loans history higher than your other trade lines.
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  #11  
Old 11-19-2012, 07:47 PM
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Thx again Chris.
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  #12  
Old 11-19-2012, 08:09 PM
thegandalf thegandalf is offline
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On the same subject, can I as a regular prerson pull this auto fico report? In order to avoid going in blind?
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  #13  
Old 11-19-2012, 08:21 PM
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DJHomie DJHomie is offline
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Originally Posted by thegandalf View Post
On the same subject, can I as a regular prerson pull this auto fico report? In order to avoid going in blind?
Good question.
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  #14  
Old 12-04-2012, 10:01 AM
hatepotholez hatepotholez is offline
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How many points increase for tier 2?
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  #15  
Old 12-04-2012, 10:10 AM
cchrisv cchrisv is offline
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Quote:
Originally Posted by hatepotholez View Post
How many points increase for tier 2?
Super Elite/Elite/Standard - 675+ / Base rate
Standard Plus - 640-674 / +.00020
Progressive - 601-639 / +.00040
Progressive Plus - 600-575 / +.00060
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