How long does BMW credit application take?
Please allow 12-24 hours for BMW Financial Services to process your application. You will receive an email upon approval. If you have any questions, please contact your selected dealer. Our goal is make your experience Beyond The Drive™.
Is BMW credit application a hard pull?
If you want to get financing through BMW Financial Services, you can apply directly through its site. If you submit your online application during business hours, you should receive an email response within 24 hours. The lender will check your credit, resulting in a hard inquiry, and other factors to make a decision.
How long does it take for BMW to approve lease?
Reviewing and approving a credit application should take 5-30 minutes. Funding that same deal, anywhere from 1-5 days. This shouldn’t matter much to you, as you can still take delivery of the car in most cases regardless of what is going on in some back office department.
How do I check the status of my BMW application?
How Can I check the status of my application? Call 1-800-364-9648 and choose Option 1 for the status of an application. For your security, you will be required to enter your Social Security number. Additional verification items may also be needed.
Can you lease a BMW with fair credit?
Just like buying a vehicle, when you lease, you’ll have to apply for credit approval. At our South BMW Center, we typically consider 700 and above to be a good credit score for approval of a lease. It is possible to lease a vehicle when your credit score is lower, but that usually means it will be more expensive.
Can I lease a car with 590 credit score?
If your credit score is 740 or above, your score is considered very good by most lenders. They will likely offer you a lease with their best rates. According to LeaseGuide.com, a score between 680 and 739 is considered prime and will be approved. Scores from 620-679 are “near-prime” scores.