[MEL2272]

How much does your credit affect your lease payments with bmw?

Mine is about 690-705
I take delivery in about 2 weeks and I got quoted for 406 a month is there a possibility that changes due to credit score? Btw I already got a bmw financial approval .

[Alpine435i]

Originally Posted by melvinf

How much does your credit affect your lease payments with bmw?

It doesn't. You're either approved or not approved. There are no tiers of interest in a lease as there is with traditional financing. Since they've already run your credit, you're fine.

[happycow6171]

Totally agree, can be a bit scary though what you can get on bmw finance!.

[TierOne]

no, credit score does matter, but you're in the clear. if your score was between 600 and 675, you'd have a different rate.

[MEL2272]

Originally Posted by happycow6171

Totally agree, can be a bit scary though what you can get on bmw finance!.

What do you mean?

[happycow6171]

In uk can get approval for several cars, eg m5, 6 series run a credit check then happy days!.

[MEL2272]

Originally Posted by happycow6171

In uk can get approval for several cars, eg m5, 6 series run a credit check then happy days!.

Well I'm in the US so it's a bit different here

[MEL2272]

Originally Posted by TierOne

no, credit score does matter, but you're in the clear. if your score was between 600 and 675, you'd have a different rate.

I got an approval but they didn't give me a rate yet when would I fine out?

[TierOne]

you could ask them at what tier you were approved at or whats the money factor you were approved at. regarding my previous post, like say the standard mf is 0.0013 assuming your credit score was higher than 675, but say for example your credit was at 575 - you would be looking at a mf of like 0.0019

[MEL2272]

Originally Posted by TierOne

you could ask them at what tier you were approved at or whats the money factor you were approved at. regarding my previous post, like say the standard mf is 0.0013 assuming your credit score was higher than 675, but say for example your credit was at 575 - you would be looking at a mf of like 0.0019

Ok good I guess I'm in the clear on my lease the money factor says .0013 nothing is signed yet but this is good to know thanks