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PrePay Lease
Does anyone have expiriance with this? does this help if your credit is not good enough for a standard lease?
"PrePay
If you prefer cash transactions, you can save yourself some money through PrePay leasing. Instead of paying cash for your new or Certified Pre-Owned BMW, you can pay for a portion of the car through a prepaid lease. A PrePay lease consists of a single upfront payment (including a security deposit) that will be less than the sum of monthly payments on a traditional lease. And you still have all the lease-end options of a standard lease. (Please note: The PrePay option cannot be combined with Multiple Security Deposits.) "
| | Reply » PrePay Lease |
Does not really help with credit decision thru BMWFS and the big negative is you cannot use PREPAY with any special lease rates IE. 001 Money Rate on 05 545.
| | Reply » PrePay Lease |
Quote: | Does anyone have experience with this? does this help if your credit is not good enough for a standard lease? | Absolutely. Credit approvals are based on risk, and getting all of the ca$h up
front definitely minimizes the risk for the lessor. Many times over the years
I was able to get wannabe BMW drivers done with the prepay option
through BMWFS (who would have otherwise not qualified)...
The next time around will be a piece of cake assuming that you maintain
satisfactory employment and credit profile.
| | Reply » PrePay Lease |
Quote: | Does not really help with credit decision thru BMWFS and the big negative is you cannot use PREPAY with any special lease rates IE. 001 Money Rate on 05 545. | What is the prepay rate? All you would be paying interest is on the residual versus on a traditional lease, no?
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PrePay Lease