BMW Credit Check

Ask the Hackrs
1

My credit application was approved by bmw for a lease which will be picked up in May (deal below but not purpose of this post). I want to purchase/finance a Q5 for my wife before May. Questions:

  1. Will bmw run an additional credit check when I sign lease paperwork and pick up car in May?
  2. Will financing a Q5 for my wife impact my credit score enough to impact bmw lease?

I know this isn’t the best deal, but used local dealership to save time/travel. Custom Ordered 2023 bmw 5 series and should arrive in May. ~$60k msrp, ~$650 effective monthly after $3k incentives ~5% msrp discount. 00103 money factor 7MSD 39/10

Thanks for any advice!

2

Yes

What is your FICO auto score? Your score will drop, as long as you aren’t on the line it shouldn’t push you out of Tier 1.

3

768 FICO - recent drop due to the bmw lease

4

Thanks - I think I should just wait until after bmw arrives

5

I ordered a BMW in August of 2021 and picked up in October of 2021.

The only hard inquiry I have is from August, the dealer only ran Transunion for me.

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