So do they approve you based on the payment (DTI/PTI), or the they care more about MSRP of car?
Solid for a 7 series! That is much as a new A6 3.0T. Terrific deal.
Updated! $794+Tax to $799 w/ Tax.
Whose meeting me this weekend? 
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So does BMWFS approve you based on the payment (DTI/PTI), or the they care more about MSRP of car? 799 is not too crazy. That is how much a new loaded Genesis goes for 
Credit Score / History… Approved Loan amount matters on MSRP of vehicle.
But with leasing, you are not taking out a loan for the full sum of the car, only Sale Price - Residual (in this case $28,764)? Right?
What if there is a 100k Maserati, going for 800 a month due to a huge discount. My friend got approved for a $560 Armada with only 35k stated income and 400 rent. Her history was ok, and score was in 700s, but no previous auto loan history. I would assume a person making 60-70k and having decent history (700+) would be easily approved for a $799 payment for a BMW 740i loaner (assuming no debts)? Or BMW approaches this differently?
Give me a credit application and we’ll find out.
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I don’t want a 7 series, or an $800 payment! A little too much for me in terms of size. I think they could approve me, technically. I have a 700+ score, have current lease on my credit also, 1% credit utilization, but only drawback is I have 1.5 years of total credit history, but it is quite varied…but it may be the reason for which they decline. I like the 540i a lot though haha.
They’re lending you the entire car and counting on you to return it when it’s due.
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So basically its like you are buying it??? I though purpose of the lease was to pay for only part of it, and not put such loan on yourself.
You’re only paying part of it, but you’re borrowing the whole car
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Just because you’re only paying X amount over time, you’re still driving around a 90k car.
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Pretty much like buying it! I always thought banks care are about your Payment to Income ratio, or DTI, because who cares if it is a Honda Pilot lease for 700 or a BMW for 700, or a 35k 4runner for 500 a month vs a 530i for 500, since you are spending the same amount, I don’t understand why car’s MSRP is taken into consideration. Car is insured, so why would it even matter.
Also, you do not pay MSRP, you pay the price with the rebates, so it is not going to be MSRP.
So what is the minimum required income to get approved for this 7 series?
if you’re interested in the car you should PM him.
I do not want a 7 series, I already said above
Doesn’t fleet work on loaners with less than $5K miles?
Nope, loaners are used cars. BMW just gives them an exception to use New Car programs.
Greg
I’d bite on this if it was 10k per year same price if I hadn’t already picked up a 7 series off a post on the marketplace a few months ago:…