06-14-2012, 03:09 PM | #1 |
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Credit and ordering question
If id like to lease do I have to be approved first and get the ok for my credit to order? Or is it wise to get everything straight with my credit pay down all cards first before I place the order to ensure the best chance of getting approved? Thanks
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06-14-2012, 05:16 PM | #2 |
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I'd say yes to both. Firstly, you do have to fill out a credit application to lease a car thru bmwfs, they will not order you a car until you get approved (unless I suppose u say you are buying cash and leave a significant deposit). Second, if you are carrying a lot of debt in which you believe yo u may have an issue, you certainly should work to pay that down so as not to affect your chances of approval.
Good luck
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06-14-2012, 06:07 PM | #3 | |
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06-14-2012, 06:55 PM | #4 | |
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This doesn't make it easy ordering a vehicle and getting pre-approved when u r still currently in a lease |
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06-15-2012, 02:09 AM | #5 | |
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On the other hand, we haven't talked official +invoice pricing either. So it's a two way street of trust.
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06-15-2012, 06:37 AM | #6 | ||
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06-15-2012, 09:06 AM | #7 | |
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06-15-2012, 10:56 AM | #8 | |
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06-15-2012, 11:46 PM | #9 | |
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They're not going to look into debt/income ratio. If you want the best lease rate, then you have to have top tier credit score. Just make sure your credit scores are all good, and don't worry about your credit card. How trust/credit worthy you are is identified by your credit score. If you have a bad score, then yes you'll want to pay off your debts asap. But, you score will take some time to reflect that. You can check your credit scores with multiple websites offering this service. |
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06-18-2012, 11:39 AM | #10 |
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credit reports don't update instantly. usually once a month. So if you're paying down your card on Tuesday, and hoping the credit report looks different on Wednesday, you'll be disappointed.
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06-18-2012, 11:58 AM | #11 |
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I paid 1500.00 deposit. no credit run at this time. However I informed them it was rather likely I'd go through my credit union...as their rate is amazing.
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06-19-2012, 08:37 AM | #12 |
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Thats what im doing, paying down everything this month, then will wait till next month for everything to wash out then go for the credit check. Its not that I have bad credit, its just kind of lack of credit, 1 CC & one best buy CC which is paid off along with my car payment that I have at the credit union that ive had for a little over 2 years. Other then that no debt.
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