OP, Just because you have a 650 score doesn’t necessarily mean you shouldn’t lease this car. It just means you’ll have to pay a higher interest rate. BMW will prob make you leave a considerable deposit, with less than stellar credit.
Consider all variables but only you know if you can afford a car like this. Search the forum, you’ll see what brokers are doing on M5’s and what other hackers have gotten.
What is OP’s current car and payment?
A 650 credit is also likely due to high DTI like a high balances on a credit card and high utilization of lines of credit.
That can be due to an expanding business. I know several builders who have 600 credit scores since they finance their daily lumber purchases on credit cards before they get a draw from the commercial loan.
As for the M5 posted above, the payment is too high for anyone. It can be leasehacked lower.
Also if you can put down MSDs, that will reduce the Money factor rate.
Just because someone has low Fiico score doesn’t necessarily mean that he can’t afford an expensive lease. he could be a recent medical or dental graduate that makes 350k and wants to reward himself after years or hard work. He could be a wealthy immigrant who is still building his credit or maybe someone who has just inherited money or won the lottery. Op asked for advise on a car lease not opinions about his life choices.
This is not at all aligned with reality. Recent medical grads eek out a paltry $50k or so for a lot of years till they’re done with residency and specializing and all that stuff.
My advice for leases is don’t pay inflated MF due to poor credit and def don’t do so on $115k. Maybe on a $30k car, sure. The higher the price, the worse the penalty for inferior credit.
And of course, keep in mind what I’m charging for this advice.
Perfect credit score will get you MF at 0.00142 couple weeks ago Where his mediocre score will get him 0.00138 now. Sometimes the timing of the deal changes other variables. BTW I agree with your financial advise in principle.
Keep in mind that while the mf went down, so did other aspects of the lease terms, so getting the marked up MF this month, despite being lower than last month, still costs you more. Have to look at the deal holistically.
I feel like this entire point has been lost:
Paying inflated MF on six figures is wildly illogical compared to doing the same on a much cheaper car. Say a nice 3er.
It’s financially unwise. OP included his credits score in OP, bringing it to the table.
If one wants to maximize the deal, one minimizes rent charge.
No, but driving between offices certainly does.
No offense, but you’re also the one who makes $350K/yr and doesn’t think he/she can afford a $1K lease. People have different tolerance for risk. 
You still have to do residency after medical school, so no recent medical grad is making $350K/yr… At least, not from being a medical resident.
I think it was $275k/yr.
MF is only one variable of the deal. It’s effect can be negated by changing another variable which is the sales price. Sometimes the dealer is more motivated to reduce the later if he knows there more meat left in the former.
I know it’s unorthodox to go to the dealer and just throw a number that works for you but sometimes it actually works in your favor. I know it did for me.
Last year I went to one dealer right after the Memorial Day weekend. It was raining and the dealer was pretty much empty. I didn’t talk sales price/MF/incentives or any of that (I didn’t know anything about that at the time) I just gave the sales manager what the monthly payment that I was willing to pay (I tired to intuitively compare prices online and made a basic calculation and figured if I can be at 1% of MSRP I will probably be ok. I was surprised to find out about the 1% rule later on this site and I was proud of myself till people started knocking down my newly founded theory 
anyway, After they used all their good cop bad cop sales tactics. the sales manager got pissed off and finally gave up and said FINE!! I will give you the car. and while I was signingthe papers he mentioned something, He said I’m gonna give you a few hundred miles for free. Is that ok? . I was puzzled and was like…sure. Thank you for being generous. I only found out later after I found this site and started learning how to read contracts that he gave me the car at 22% off and I can bet he put it in his books as a demo unit so he can go that far on a same year model in May. Now maybe he needed the sales so bad, maybe he was about to lose his job. I have no idea. But I got the best discount anyone could get at that time. having said that. Now I don’t go to any car dealer till I finalize all the details through emails and I’m sure I’m much better off with knowing all the numbers and I’m thankful for this site but what matters to me at the end is still the final payment that is coming out of my pocket, the time spent achieving that goal, and finally remember that the sale person is another fellow human that has bills to pay. God blesses kind people and you I think might enjoy your car more if you don’t chase the very last penny.
It is really irrelevant.
Nice job on the discount! It is rare that you see walking into the dealer to negotiate working out for people, but this is pretty hefty for a new car (not sure what incentives you had so I can’t be 100%)
Did you think that wasn’t part of the fun?
No. It can’t.
That fun part is short lived and it becomes addictive because like any thrill, it’s dopamine driven. As years go by you will constantly need a higher dosage of that “winning” to get the same high so you become more greedy and selfish.
Personally I don’t want to win at the expense of someone’s else lose and I do love to save money just like anyone else. I think the more balanced approach is to give and take. when you leave few dollars on the table you are still scoring a great deal but you purify your soul from stinginess, true the reward might be only spiritual and intangible. but It will increase the secretion of the serotonin in your brain which is responsible for long term happiness. That’s why volunteering, helping others and giving in general are proven ways to cure depression in the literature.
Ps The 22% off was before incentives
I think several people had that argument before with no final verdict. maybe we can get input from some of the dealers and get a better insight.
I agree with that. 22% before incentives is awesome. Car purchasing is dopamine driven regardless, and dealers like to make it an emotional process as much as possible.
I still knew I left a couple hundred dollars on the table with my S60, and don’t feel bad about it at all. Everybody needs to make money, but I got to the monthly payment I wanted and didn’t feel the need to keep going.
Are you in the Neuroscience field by chance? I could only notice through your mention of two transmitters (DA and 5-HT) and your profile picture.