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What credit bureau does bmw use

what credit bureau does bmw use I am in the process of trying to lease a 07 550i or assume a lease of a 06. On Friday night I decided to go ahead and bite the bullet and try for an online application. To my surprise I was denied and was hoping to get some advice from those who better understand BMW leasing. Here is my scenario:
  • Income - $175k /year with stable experience for past 7 years. This results in over $14k month which I think is sufficient to justify this lease
  • Mortgage - $2300 (1st) + $900 (2nd) which started in July 06
  • Credit card utilization is less then 30%
  • 1 installment loan of 14k
  • No other auto loans
  • 8 credit cards all current with balance on only 2
  • Equifax score 660 which I think is a result of the new mortgage, credit pulls when I was closing on the house and setting up new utilities, and

    high utilization of 75% on 1 CC which I just paid down but not reflected yet.

  • No derogatoriness, no bankruptcy, no collections, 1 late from 2 years ago
  • Applied for 07 550i w/sport and other options totaling $65k with 2500 down
I am only aware of my Equifax score as I signed up for Equifax monitoring when I was going through the mortgage process. Here are my questions:

1. Which credit bureau does BMWFS pull from?

2. Should I call BMWFS and find out what happened as all I received was an email with no details.

3. I am also considering a leasetrader assumption for a 06 with low payments (775 /month) which is also held with BMWFS, are the credit requirements for lease assumption different then online new lease?

I took out a 07 550 and fell in love, this credit situation is killing me.

Thanks to you all in advance!

Category: Credit

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