Merzbow

Thinking of getting a 545i with one of these fantastic 0.001 lease rates. Anyone know offhand what kind of minimum FICO score they are looking for? I'll ask them but I'm sure they will say anything just to get me to come down and apply so I want to know from a third party if possible.

swajames

According to my dealer they required a FICO (keep in mind that for auto loans they will probably use an "auto enhanced" FICO that gives extra weight to past performance on auto finance) of over 700 to qualify for the premium rates. They will likely pull two credit reports, the dealer will pull one (mine pulled Experian) and BMWFS will pull a separate report when accepting the underwriting on the lease (they pulled Transunion for me). Good luck and keep us posted.

Merzbow

According to my dealer they required a FICO (keep in mind that for auto loans they will probably use an "auto enhanced" FICO that gives extra weight to past performance on auto finance) of over 700 to qualify for the premium rates. They will likely pull two credit reports, the dealer will pull one (mine pulled Experian) and BMWFS will pull a separate report when accepting the underwriting on the lease (they pulled Transunion for me). Good luck and keep us posted.
[/quote]

Good, I'm in the money then. I just gotta find the right car... gonna brace for a long day tomorrow, I'm gonna call every dealer in CA if I have to.

swajames

According to my dealer they required a FICO (keep in mind that for auto loans they will probably use an "auto enhanced" FICO that gives extra weight to past performance on auto finance) of over 700 to qualify for the premium rates. They will likely pull two credit reports, the dealer will pull one (mine pulled Experian) and BMWFS will pull a separate report when accepting the underwriting on the lease (they pulled Transunion for me). Good luck and keep us posted.
[/quote]

Good, I'm in the money then. I just gotta find the right car... gonna brace for a long day tomorrow, I'm gonna call every dealer in CA if I have to.
[/quote]


Good luck - the finance only took about 10 minutes to sort out when I got mine. The 545 was the most expensive car I have ever bought and it was one of the easiest sales/approvals I ever had when getting a new car.

Merzbow

According to my dealer they required a FICO (keep in mind that for auto loans they will probably use an "auto enhanced" FICO that gives extra weight to past performance on auto finance) of over 700 to qualify for the premium rates. They will likely pull two credit reports, the dealer will pull one (mine pulled Experian) and BMWFS will pull a separate report when accepting the underwriting on the lease (they pulled Transunion for me). Good luck and keep us posted.
[/quote]

Good, I'm in the money then. I just gotta find the right car... gonna brace for a long day tomorrow, I'm gonna call every dealer in CA if I have to.
[/quote]


Good luck - the finance only took about 10 minutes to sort out when I got mine. The 545 was the most expensive car I have ever bought and it was one of the easiest sales/approvals I ever had when getting a new car.
[/quote]

As far as price goes, what's considered a good deal for a 2005 545i in California? I've heard $2k over invoice. Since I'm looking for cars with a pretty limited range of options (ideally, sport with comfort seats and nothing else), there may be only one or two I'll be able to dig up in the state, so this may lower my negotiating position. I don't want to pay for unnecessary options. If I can't find one I like, I'll probably just sit tight and hold for the 550i instead.

swajames

According to my dealer they required a FICO (keep in mind that for auto loans they will probably use an "auto enhanced" FICO that gives extra weight to past performance on auto finance) of over 700 to qualify for the premium rates. They will likely pull two credit reports, the dealer will pull one (mine pulled Experian) and BMWFS will pull a separate report when accepting the underwriting on the lease (they pulled Transunion for me). Good luck and keep us posted.
[/quote]

Good, I'm in the money then. I just gotta find the right car... gonna brace for a long day tomorrow, I'm gonna call every dealer in CA if I have to.
[/quote]


Good luck - the finance only took about 10 minutes to sort out when I got mine. The 545 was the most expensive car I have ever bought and it was one of the easiest sales/approvals I ever had when getting a new car.
[/quote]

As far as price goes, what's considered a good deal for a 2005 545i in California? I've heard $2k over invoice. Since I'm looking for cars with a pretty limited range of options (ideally, sport with comfort seats and nothing else), there may be only one or two I'll be able to dig up in the state, so this may lower my negotiating position. I don't want to pay for unnecessary options. If I can't find one I like, I'll probably just sit tight and hold for the 550i instead.
[/quote]

So what's the update? Any luck today?

550i now

According to my dealer they required a FICO (keep in mind that for auto loans they will probably use an "auto enhanced" FICO that gives extra weight to past performance on auto finance) of over 700 to qualify for the premium rates. They will likely pull two credit reports, the dealer will pull one (mine pulled Experian) and BMWFS will pull a separate report when accepting the underwriting on the lease (they pulled Transunion for me). Good luck and keep us posted.
[/quote]

Good, I'm in the money then. I just gotta find the right car... gonna brace for a long day tomorrow, I'm gonna call every dealer in CA if I have to.
[/quote]


Good luck - the finance only took about 10 minutes to sort out when I got mine. The 545 was the most expensive car I have ever bought and it was one of the easiest sales/approvals I ever had when getting a new car.
[/quote]

As far as price goes, what's considered a good deal for a 2005 545i in California? I've heard $2k over invoice. Since I'm looking for cars with a pretty limited range of options (ideally, sport with comfort seats and nothing else), there may be only one or two I'll be able to dig up in the state, so this may lower my negotiating position. I don't want to pay for unnecessary options. If I can't find one I like, I'll probably just sit tight and hold for the 550i instead.
[/quote]
Well, its not easy but I'm sure you can get between $1750-$2K over invoice, as I did 3 days ago, on a new order 545i.I'm in San Diego which is not as competitive as LA. You know, the old San Diego reverse discount.

Merzbow

According to my dealer they required a FICO (keep in mind that for auto loans they will probably use an "auto enhanced" FICO that gives extra weight to past performance on auto finance) of over 700 to qualify for the premium rates. They will likely pull two credit reports, the dealer will pull one (mine pulled Experian) and BMWFS will pull a separate report when accepting the underwriting on the lease (they pulled Transunion for me). Good luck and keep us posted.
[/quote]

Good, I'm in the money then. I just gotta find the right car... gonna brace for a long day tomorrow, I'm gonna call every dealer in CA if I have to.
[/quote]


Good luck - the finance only took about 10 minutes to sort out when I got mine. The 545 was the most expensive car I have ever bought and it was one of the easiest sales/approvals I ever had when getting a new car.
[/quote]

As far as price goes, what's considered a good deal for a 2005 545i in California? I've heard $2k over invoice. Since I'm looking for cars with a pretty limited range of options (ideally, sport with comfort seats and nothing else), there may be only one or two I'll be able to dig up in the state, so this may lower my negotiating position. I don't want to pay for unnecessary options. If I can't find one I like, I'll probably just sit tight and hold for the 550i instead.
[/quote]

So what's the update? Any luck today?
[/quote]

Got one today - Metallic Black/Beige with just the sport package and fold-down rear seats. I'm not going to give financial details, but I'm happy with the deal. It's incredible driving the thing - a nonstop crack cocaine high. Time to mod this baby! Shooz, stereo, exhaust, maybe chip. I have to consider what will be easily reversible and what I can also use on the 550i I'll be leasing in 36 months.

swajames

According to my dealer they required a FICO (keep in mind that for auto loans they will probably use an "auto enhanced" FICO that gives extra weight to past performance on auto finance) of over 700 to qualify for the premium rates. They will likely pull two credit reports, the dealer will pull one (mine pulled Experian) and BMWFS will pull a separate report when accepting the underwriting on the lease (they pulled Transunion for me). Good luck and keep us posted.
[/quote]

Good, I'm in the money then. I just gotta find the right car... gonna brace for a long day tomorrow, I'm gonna call every dealer in CA if I have to.
[/quote]


Good luck - the finance only took about 10 minutes to sort out when I got mine. The 545 was the most expensive car I have ever bought and it was one of the easiest sales/approvals I ever had when getting a new car.
[/quote]

As far as price goes, what's considered a good deal for a 2005 545i in California? I've heard $2k over invoice. Since I'm looking for cars with a pretty limited range of options (ideally, sport with comfort seats and nothing else), there may be only one or two I'll be able to dig up in the state, so this may lower my negotiating position. I don't want to pay for unnecessary options. If I can't find one I like, I'll probably just sit tight and hold for the 550i instead.
[/quote]

So what's the update? Any luck today?
[/quote]

Got one today - Metallic Black/Beige with just the sport package and fold-down rear seats. I'm not going to give financial details, but I'm happy with the deal. It's incredible driving the thing - a nonstop crack cocaine high. Time to mod this baby! Shooz, stereo, exhaust, maybe chip. I have to consider what will be easily reversible and what I can also use on the 550i I'll be leasing in 36 months.
[/quote]

Congratulations - enjoy!