Quote:
Originally Posted by cmhsam
This is my first time doing ED and ordering a car that doesn't have lease rates out yet. When I signed my paperwork and put my deposit down on the car, June 5 2012, I was approved for the lease through BMW FS. When the money factor is released will BMW FS have to do another credit check on me to reapprrove me for the lease? Or once I was approved on 6/5 it's a done process? I am concerned about another inquiry in a short period of time on my credit.
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I wouldn't worry about it. I do not think BMW FS would do a hard credit check twice - they have to pay for each inquiry.
Also, BMW FS is not approving you on such a thin margin that the difference in your payment because of the MF and residual would swing you one way versus the other. They have a reasonable margin for error (in their favor) in the approval process.