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325i 2006 Lease assistance
I have been doing a lot of reading on these boards over the last week, I have learnt a lot from you all thanks, I am a young guy I have my own business & I am looking to purchase/lease my first car a 2006 325i, The problem is however that my credit is not good enough to get a lease, (around 670 i belive)  So I considered buying one outright, but there are 2 problems with that, 1: I prefer not to take such a large chunk of cash out of my business as it would affect my turnover, buying power etc. 2: I would like to upgrade after 2 years and i believe that buying is more expensive then leasing if i just wanted the car for 2 years before moving up into a nicer car, So I am now back to leasing, What can I do to make it happen? 1: Get someone with good credit to co-sign the lease with me? or 2: Get someone else to lease and insure the car on their name and add me as a named driver on the insurance? (If that is legal / possible?) 3: Just buy the car & sell it after 2 years? If these questions have been addressed previously in other threads please forgive me for presenting them to you once again for assistance. 2006 325i Titan Silver Aluminium Trim Auto Cold Weather Xenon Park Distance Control Debating Nav - Currently No Nav | | Reply » 325i 2006 Lease assistance |
Quote: I have been doing a lot of reading on these boards over the last week, I have learnt a lot from you all thanks,
I am a young guy I have my own business & I am looking to purchase/lease my first car a 2006 325i, The problem is however that my credit is not good enough to get a lease, (around 670 i belive)
So I considered buying one outright, but there are 2 problems with that,
1: I prefer not to take such a large chunk of cash out of my business as it would affect my turnover, buying power etc.
2: I would like to upgrade after 2 years and i believe that buying is more expensive then leasing if i just wanted the car for 2 years before moving up into a nicer car,
So I am now back to leasing, What can I do to make it happen?
1: Get someone with good credit to co-sign the lease with me? or
2: Get someone else to lease and insure the car on their name and add me as a named driver on the insurance? (If that is legal / possible?)
3: Just buy the car & sell it after 2 years?
If these questions have been addressed previously in other threads please forgive me for presenting them to you once again for assistance.
2006 325i
Titan Silver
Aluminium Trim
Auto
Cold Weather
Xenon
Park Distance Control
Debating Nav - Currently No Nav | if you have a 670 you will qualify for a lease guranteed.
| | Reply » 325i 2006 Lease assistance |
Quote: | if you have a 670 you will qualify for a lease guranteed. | your wrong.. alot of other factors play a part
| | Reply » 325i 2006 Lease assistance |
i do auto finance for a living, and a 670 will get you approved thru pretty much any manufacturer on a lease, (unless its the worst 670 ive ever seen) The average US credit score is 678, so your not far off. Often a dealer will try to "bump" you on a lease when your not above 700, but 670 is def approvable credit. Hope I helped.
As for myself, I financed the car, and although i only plan to hold onto the car for 2-4 yrs at most, the flexibility ownerships affords outweighed the lease, especially when you consider the current lease rates on an 06 330i.
| | Reply » 325i 2006 Lease assistance |
Quote: i do auto finance for a living, and a 670 will get you approved thru pretty much any manufacturer on a lease, (unless its the worst 670 ive ever seen) The average US credit score is 678, so your not far off. Often a dealer will try to "bump" you on a lease when your not above 700, but 670 is def approvable credit. Hope I helped.
As for myself, I financed the car, and although i only plan to hold onto the car for 2-4 yrs at most, the flexibility ownerships affords outweighed the lease, especially when you consider the current lease rates on an 06 330i. | Your in ny ,, so am i.. i was declined by BMWFS on a 325i lease, i have a 670 score and about a year ago i was late on payments to 2 credit card companies who reported it while i was out of the country, I am not a home owner and i am 21 years old, I was approoved with a co-signer but im thinking of buying now with cash (no loans / finance) does it make sence for me if i might want to sell the car in 2-3 years? Thanks for your help
| | Reply » 325i 2006 Lease assistance |
Quote: | Your in ny ,, so am i.. i was declined by BMWFS on a 325i lease, i have a 670 score and about a year ago i was late on payments to 2 credit card companies who reported it while i was out of the country, I am not a home owner and i am 21 years old, I was approoved with a co-signer but im thinking of buying now with cash (no loans / finance) does it make sence for me if i might want to sell the car in 2-3 years? Thanks for your help | Holy crap, you sell a 3 series in 2 years after paying cash and you're gonna take a serious bath. Even if you do ED, it's gonna be pricey.
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325i 2006 Lease assistance