# How early can you order a BMW for a lease with a change in job position?



## trekwars2000 (May 23, 2010)

lezam said:


> If I'm correct and you have around $30k of disposable income per year, why would you be declined for a loan? Especially if you have a great credit score.
> 
> Even if you dress like a shlub, remember.. you're the one buying a car. Walk in with confidence, and don't be pressured because of your appearance.
> 
> BTW: BMW has never asked me for proof of income on my lease. They just ask how much your'e making... and if you started your 250k job, why not write that?


The problem is the OP, currently, doesn't have 30K of *disposable income* per year. Based on the info provided by the OP, they are likely taking home 4.5k/month and their debt minimum payments are 2K. That doesn't count rent, utilities, clothing, food, medical insurance, retirement, etc. So the disposable income is likely much less than what you quoted.

But the OP doesn't want a financial less that they may truly need. Iamgort made a good suggestion though - don't spend money before you have it.


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## Drax (Jun 30, 2013)

trekwars2000 said:


> The problem is the OP, currently, doesn't have 30K of *disposable income* per year. Based on the info provided by the OP, they are likely taking home 4.5k/month and their debt minimum payments are 2K. That doesn't count rent, utilities, clothing, food, medical insurance, retirement, etc. So the disposable income is likely much less than what you quoted.
> 
> But the OP doesn't want a financial less that they may truly need. Iamgort made a good suggestion though - don't spend money before you have it.


And now we have people trying to hijack my thread by pondering how much my monthly clothing expenses are....*sigh*

I really don't want to waste my time explaining how the 21st century economy works on credit and lending, especially on a board full of people with mortgages and leases

Please don't post unless you have some inside or personal knowledge about how BMW directs their leasing process


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## ayu910 (Mar 8, 2010)

Ran into something similar before and at the time the credit department just ask to submit a letter from HR department attach with offer letter to confirm newly increased salary. That was few years back so not sure about the criteria now. 

Finance department mainly looking for consistency so wait for three to four paystubs (1.5/2 months) would be the safest bat for tier-1 credit.


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## trekwars2000 (May 23, 2010)

Drax said:


> In about a month, our family income jumps from $60,000 (45% debt to income) to $250,000 (9% debt to income). We've been pushing both our cars into their last leg in anticipation of buying new cars. So we have a problem where we want to buy the cars as soon as possible, or at least order them as soon as possible so the production process begins.





Drax said:


> Please don't post unless you have some inside or personal knowledge about how BMW directs their leasing process


Do you want to lease or buy the car? When you can provide clear enough information on which you prefer, you might get better responses. My point from earlier, is you were stating you wanted to BUY 2 new BMWs on a 60K/year salary where 24K of that is eaten up by monthly MINIMUM payments. What finance department in their right might would finance that? That is a method for disaster. That would be like me walking into a Bentley dealer and trying the same thing.

Sure, I may have gone a bit over the top by offering my suggestion from experience being in a similar boat 8 or so years ago. If that was over the top and insulting, etc - then I am sorry. I was attempting to answer the question and give some advise. Sorry.

Either way good luck - I can assure you will love a bimmer when you get into one...


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## Drax (Jun 30, 2013)

trekwars2000 said:


> Do you want to lease or buy the car?


The thread title is:

* How early can you order a BMW for a lease with a change in job position? *


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## Drax (Jun 30, 2013)

trekwars2000 said:


> My point from earlier, is you were stating you wanted to BUY 2 new BMWs on a 60K/year salary where 24K of that is eaten up by monthly MINIMUM payments.


I didn't say that, as that would be crazy,

I wanted to *order* a car now, and only take receipt of them when the monthly gross was $21,000, and the $600 would be just 2.8% of that. Even if we did two cars at once, that's still about 5% of the gross monthly income, add that to my above stated 9% debt to income ratio, and you still have 14% debt to income. I don't think 14% debt to income is reckless, and don't really want to discuss people's philosophical opinions on 14% debt to income ratios.

I know people that waited 6-8 months for an ordered German Car last year (Audi in that case)

I don't think it is very radical to say I want the car a week or two after I can easily afford it, not 2-3 or maybe more months after that.

Again, please keep this thread to discussion of the process of BMWFS, as this is the only place I can go for that kind of information besides hassling a local dealer


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## Drax (Jun 30, 2013)

ayu910 said:


> Ran into something similar before and at the time the credit department just ask to submit a letter from HR department attach with offer letter to confirm newly increased salary. That was few years back so not sure about the criteria now.
> 
> Finance department mainly looking for consistency so wait for three to four paystubs (1.5/2 months) would be the safest bat for tier-1 credit.


Yeah I figured some finance dept. would want 4 paystubs but didn't know if others would try and be more flexible to get an early deal rather than wait for the customer.


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## miotoo (May 23, 2012)

BMWFS is not in business of sharing a potential buyer's life decisions/risks. The car purchase is a contract. As you request to qualify for a lease-based purchase, you need to qualify for the lease terms at point of placing the order. If the contract includes a termination clause that can be applied before the purchase is completed and the product is delivered to you, has nothing to do with the financing qualification process. The insurance also has no role in your lease risk before you buy either.


Sent from BimmerApp mobile app


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## trekwars2000 (May 23, 2010)

Drax said:


> The thread title is:
> 
> * How early can you order a BMW for a lease with a change in job position? *





Drax said:


> In about a month, our family income jumps from $60,000 (45% debt to income) to $250,000 (9% debt to income). We've been pushing both our cars into their last leg in anticipation of buying new cars. So we have a problem *where we want to buy the cars as soon as possible*, or at least order them as soon as possible so the production process begins.
> 
> However, we are both 25, look very young, drive 8+ year old beaters and wear clothes from Wal-mart. (But at least we both have +800 credit scores) Naturally, we are worried about being laughed out of the dealership or otherwise have them sneer at us.
> 
> ...


*Sorry do you want to BUY OR LEASE, because you title and back-story are different. *

Maybe I misunderstood what you meant when you said you want to "*buy the cars as soon as possible*"...


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## Drax (Jun 30, 2013)

I'm guessing the dealers are probably busy with July 4th right next to a weekend, maybe I'll hear something from them on Monday


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## zeddy (May 11, 2011)

My original lease application was denied for not ever having any big purchases financed despite a high fico and income higher than your current combined income. The ca just had me send in recent pay stubs and my application was approved immediately after. Rather of since my application stated my annual salary but the pay Stubs did the trick. I would just wait until you have a couple months at the new salary and pay stubs to back it up and then apply


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## Drax (Jun 30, 2013)

zeddy said:


> My original lease application was denied for not ever having any big purchases financed despite a high fico and income higher than your current combined income. The ca just had me send in recent pay stubs and my application was approved immediately after. Rather of since my application stated my annual salary but the pay Stubs did the trick. I would just wait until you have a couple months at the new salary and pay stubs to back it up and then apply


Great post, thanks for the information!

I think right now I'm going to wait until the December deals to lease a BMW (plenty of paystubs by then) but maybe in September with 2+ paystubs we'll try to work with a local bank for an auto loan to fully purchase another car.


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## BMWFanboy (Apr 27, 2008)

Your complication seems to be some insecurity. Just talk to a dealer, even if it is by phone.


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## Stevarino (May 14, 2002)

My advice...wait.

Until you are actually sitting at your desk with your name on the door you are not working there. 

Stuff happens. You could pick up the paper tomorrow and see your future employer's company headquarters being padlocked by the FBI.

Now is the Time for buying new clothes that fit and doing research about your new company and who all the big shots are.

After you are actually on the payroll, maybe they have a credit union or a buying service that would help you.

If not then you can walk into the BMW dealer and ask "Who wants to sell the newest employee of XYZ inc. a car today? 


Sent from BimmerApp mobile app


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## dannyc9997 (May 15, 2008)

Drax said:


> Great post, thanks for the information!
> 
> I think right now I'm going to wait until the December deals to lease a BMW (plenty of paystubs by then) but maybe in September with 2+ paystubs we'll try to work with a local bank for an auto loan to fully purchase another car.


Do you have an offer letter from your new job position, stating the new income/start dates? If so, I can see it getting done. Provided of course, a healthy down payment. I've been in sales/finance for a dealership for a few years now and have seen this sort of thing happen a few times.


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## hellosopo (Oct 16, 2009)

45% DTI? I'd say stop buying crap no matter how much of a bump in income you're going to get. Pay down existing debts and save money for a few years. With this sort of "how soon until I can spend more money" mind frame it sounds like you're going to go from living paycheck-to-paycheck on $60k a year to the same situation on $250k a year.


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## Drax (Jun 30, 2013)

hellosopo said:


> 45% DTI? I'd say stop buying crap no matter how much of a bump in income you're going to get. Pay down existing debts and save money for a few years. With this sort of "how soon until I can spend more money" mind frame it sounds like you're going to go from living paycheck-to-paycheck on $60k a year to the same situation on $250k a year.


*sigh*

I ask dealers on ask-a-dealers for a question how they process lease applications

What do I get? A bunch of crotchety know-nothings giving personal financial advice while being ignorant of the other 99% of our financial picture that is outside what you put on an application for a lease


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## CTSoxFan (Oct 20, 2006)

Honestly, I would just go to the dealership and talk with a CA and Finance Manager. Explain the situation, get their take. If you don't feel comfortable, or they treat you like shizz walk out and go elsewhere...there are plenty of dealerships in NJ. All you have to lose is maybe an hour of your time.


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## Stevarino (May 14, 2002)

Hey Drax!
Handle this on your own. I am off the case!

This deal is just the beginning of many failed deals in your life.


Sent from BimmerApp mobile app


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## trekwars2000 (May 23, 2010)

Stevarino said:


> Hey Drax!
> Handle this on your own. I am off the case!
> 
> This deal is just the beginning of many failed deals in your life.
> ...


Well, Stevarino, we are all just naive crotchety know-it-alls...

The OP is more concerned about some kind of ego he has than to really listen to anyone here.

The OP already admits here that he has "high-interest student loan debt" that he needs to take care of instead of doing MSDs on a 335i xDrive, but instead of taking care of it he would rather buy a 55K car.

Oh I may have figured it out, the OP "came from lower-middle class backgrounds we are worried about being ripped off or other problems". Guess those of us that may be successful (not necessarily me, I guess - since I know it all) can't pass along any knowledge to him.

The OP also suggests he has kids here: "Rear manual side window shades Sounds great for those of us with toddlers"... (Side note: Why not just tint the effing windows for $150????) Suggesting those student loans and other 45% DTI ratio debts should be paid off prior to buying a 55K car. Also, funding a college funds might be nice, but leasing and buying a BMW in the same year might make that a bit hard the next 3-5 years...


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## Stevarino (May 14, 2002)

I think he should use the "99% that is outside the lease application" to put up or shut up.


Sent from BimmerApp mobile app


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## Drax (Jun 30, 2013)

trekwars2000 said:


>





Stevarino said:


>


You know I have to hand it to you guys, nothing better to do than to keep trying and trying to hijack a guys thread...just troll troll troll

Really giving a bad name to BMW drivers

As we made clear here several times, we're were never talking about starting any car payments until the debt to income ratio was 9%

Now do I waste my time telling people who obviously know nothing at all about my personal life and very very little of my finances every single detail over an internet message forum? Well I can drop you a few hints about how the real world works but I'm going to be as vague as possible

1) Some smart people negotiate student loan repayment compensation with their employers, so it would be financially idiotic to rush through all of your repayment that someone else is willing to pay as a bonus.

2) Some smart people choose modest houses in great school districts for their kid(s), but those highly sought after real estate locations require high prices. However at an incredible 3.3% interest rate there is no need to pay off your entire house while you are still in your 20s and your student loan and mortgage debt is only 9% of your income.

3) Some very very smart people can actually be making $250,000 by working less than 5 days a week, and have the option in their contract of taking an extra $2500 each day.

Hey I bet those people can't put any of that on a generic application for a lease. So that must mean there is no way they can afford a $600 a month lease!


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## BimmerBahn (Nov 24, 2005)

OP -- when you're ready to make the acquisition/order the car(s), go to bmwusa.com, under Financial Services, Apply for Financing. Put your info in there and see if you get approved. Pretty simple and takes all the guessing out. 

As mentioned before by others, don't bite off more than you can chew. As quickly as the new job comes, circumstances change, offices close, and the job goes bye bye. Just because you have it, doesn't mean you have to spend it 

Regards,


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## iamgort (Jan 9, 2013)

People always feel obligated to give advice from their own past experience perhaps. When I first got a good paying job out of college I went and bought a fancy car, wished I didn't so I could've used it to make a larger down payment on a condo I bought a few years later. C'est la vie. It all worked out and I loved having that brand new expensive car but I still kick myself for going for the car so soon.  Best of luck.


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## Drax (Jun 30, 2013)

iamgort said:


> People always feel obligated to give advice from their own past experience perhaps. When I first got a good paying job out of college I went and bought a fancy car, wished I didn't so I could've used it to make a larger down payment on a condo I bought a few years later. C'est la vie. It all worked out and I loved having that brand new expensive car but I still kick myself for going for the car so soon.  Best of luck.


There are nice and classy ways to go about it, such as your post. It's okay as I don't expect everyone to assume how high demand is, what is the employers operating profit, how many of the employers competitors are interested in you and all the other details that make up job security.

But you know, like I said that's okay.

But then there are some people, who saw other posters giving financial advice, and having myself and others say simply that this is not a financial advice thread...can't control themselves and make one idiotic assumption after another, such as how my current debt must all be "GARBAGE"

They can't even shut up there, they have to start whining that people need to get some godawful tint job on their new car rather than buying a adjustable rear sunshade

It's just the male equivalent of gossipy hens, and it's so disappointing to see when people don't have better things to do than hijack a thread with such nonsense


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## thegandalf (Sep 8, 2012)

Drax,

It's a forum, people will give their advice, even on topics you didn't specifically request. My recommendation is just ignore the posts you don't like. Continuing to respond to them just perpetuates the argument, and can give the impression that you are trying to justify your position.
Only you know what is right for you. Maybe one day you will regret some decisions, maybe you won't (I doubt it, I still have to meet some one without any regrests). It's up to you in the end.
If you are worried about the dealer laughing at you, maybe you should wait. I don't think most would, but if you find one that does just walk away, it would be their loss. I think you will be surprised by the fact that most won't as they have by now pretty much heard it all.
They will be able to tell you what you need exactly to get qualified and then it's up to you to meet the criteria, but I you don't go see them, you will not know exactly what is it that you need to work on.


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## Stevarino (May 14, 2002)

Drax said:


> The thread title is:
> 
> * How early can you order a BMW for a lease with a change in job position? *


6 days, 4 hours and 21 min.


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## Stevarino (May 14, 2002)

Drax said:


> 3) Some very very smart people can actually be making $250,000 by working less than 5 days a week, and have the option in their contract of taking an extra $2500 each day.


I knew a guy that smart once. I think he was from Atlanta, or was it Tallahassee? I just remember he was from someplace down south. Anyway, this guy was so smart that he walked straight into a car dealership on his own two feet and bought himself a car. Yep. I seen it with my own eyes. Now, I ask you, how smart is that? And, now get this, this is the amazing part, he did it without spending a week asking dumb questions on the internet.

Smartest guy I ever had the pleasure of meeting. And did I mention? He was very, very smart.


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## trekwars2000 (May 23, 2010)

Stevarino said:


> I knew a guy that smart once. I think he was from Atlanta, or was it Tallahassee? I just remember he was from someplace down south. Anyway, this guy was so smart that he walked straight into a car dealership on his own two feet and bought himself a car. Yep. I seen it with my own eyes. Now, I ask you, how smart is that? And, now get this, this is the amazing part, he did it without spending a week asking dumb questions on the internet.
> 
> Smartest guy I ever had the pleasure of meeting. And did I mention? He was very, very smart.


Hey, thoes of us with 100+ and 400+ posts need to quit "trolling"...


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## Drax (Jun 30, 2013)

Stevarino said:


> I knew a guy that smart once. I think he was from Atlanta, or was it Tallahassee? I just remember he was from someplace down south. Anyway, this guy was so smart that he walked straight into a car dealership on his own two feet and bought himself a car. Yep. I seen it with my own eyes. Now, I ask you, how smart is that? And, now get this, this is the amazing part, he did it without spending a week asking dumb questions on the internet.
> 
> Smartest guy I ever had the pleasure of meeting. And did I mention? He was very, very smart.


As smart as the CEO of Xerox, where the dealership didn't want to sell her the car right away because she didn't have her husband there?

Wow that's pretty smart

Did you hear the one about the crotchety old man that had nothing better to do than make wild assumptions about anonymous internet posters and nag them to death about it?

That's a good one


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## trekwars2000 (May 23, 2010)

Drax said:


> Did you hear the one about the crotchety old man that had nothing better to do than make wild assumptions about anonymous internet posters and nag them to death about it?
> 
> That's a good one


That was a good one. It's right there with the one about the guy that is too insecure to drive down to a dealership and speak to someone about trying to buy a 55K car, living paycheck to paycheck, barely making minimum payments on debts that are over 45% of their income, all on a 60k/year income...

Or just call a dealership and talk to someone.

Man up.


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## Drax (Jun 30, 2013)

trekwars2000 said:


> That was a good one. It's right there with the one about the guy that is too insecure to drive down to a dealership and speak to someone about trying to buy a 55K car, living paycheck to paycheck, barely making minimum payments on debts that are over 45% of their income, all on a 60k/year income...
> 
> Or just call a dealership and talk to someone.
> 
> Man up.


Didn't read title, misstating facts, and then follow it up by pretending most people aren't apprehensive about walking into dealerships

C'mon, you can troll better than this, just keep reminding yourself that you don't have anything better to do


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## Stevarino (May 14, 2002)

Drax said:


> Didn't read title, misstating facts, and then follow it up by pretending most people aren't apprehensive about walking into dealerships


I looked at my records and actually found the name of the guy who bought the car. It was Wayne Johnson of Muscle Shoals, AL. I remember the whole thing like it was yesterday. He walked into that car dealership like a fighter pilot walking across the ramp to a combat mission. I thought he was going to pull the front door of that dealership off the hinges! Two hours later, he was done! (Not counting a 45 min. test drive.)(He picked up the car later that day.)

Hey, the USA has no shortage of heroes. Lindbergh flew a single engine aircraft across the Atlantic Ocean, George S. Patton led American tanks across Europe during WWII, and of course, Neil Armstrong.

But to many of us, especially those of us who got to know him, Wayne Johnson will always be "the guy that walked into the dealership and bought the car". Smart? Yes, Wayne was very smart, but so-so much more than that- the guy had moxie.


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## Stevarino (May 14, 2002)

Drax said:


> The thread title is:
> 
> * How early can you order a BMW for a lease with a change in job position? *


I think most dealerships are up and running by 8:00 AM. Some dealerships will have a "salesman of the day" who might show up earlier. (Maybe just after the service department opens.)


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## Drax (Jun 30, 2013)

Stevarino said:


> I looked at my records


:rofl: How did I know this was going to be the next step? Oh man :rofl:


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## Stevarino (May 14, 2002)

Drax said:


> :rofl: How did I know this was going to be the next step? Oh man :rofl:


That's it? Case Closed.


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## staindsoul (Jan 21, 2006)

It seems Drax has turned into the troll. I would quit feeding him.


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## lezam (Apr 24, 2013)

This thread has become lame


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## Drax (Jun 30, 2013)

Stevarino said:


> That's it? Case Closed.



You can't stop now, you need at least 6 more posts to go from master ignorant nag to grandmaster ignorant nag


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## dannyc9997 (May 15, 2008)

So.........


Did you buy the car yet?


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