Okay, here's the problem, I just found out that my credit score is lower than I thought because we hadn't paid on a credit card since January! I have to explain myself here - we pay all our bills online, and this particular credit card changed names/banks, and the online system didn't pick it up, and basically dropped it off the system. The real pisser is that it had a measly $1000 balance (also why we forgot about it). So when we found out, we basically paid it off, but it screwed our credit score.

Now, BMWFS has approved us, but at a lower tier, and my sales guy is off today, so I can't find out how that will change my down payment & monthly payments. Does anyone have an idea?

And I need to know quickly, because I have a guy that wants to buy my current car, but I don't know if I should sell it or not. My 335i is on order and should be here in about a month.

I'm not having fun right now!! Thanks.

I was told by me CA that BMWFS credit decisions are binary. You are either approved or not. No difference in rates for excellent or bad credit.

You can write a letter of explanation to the three big credit reporting agencies to explain this mishap. It will become part of your file and may help with future credit decisions.

I was told by me CA that BMWFS credit decisions are binary. You are either approved or not. No difference in rates for excellent or bad credit.

You can write a letter of explanation to the three big credit reporting agencies to explain this mishap. It will become part of your file and may help with future credit decisions.

That was my understanding as well. When I leased, no mention was made of my credit score one way or the other. If you have "good" credit you're approved if you have "bad" credit you're not. The only thing that raised my rates were the options I chose.

Well then why in the hell did my sales guy tell me that?

That I can't answer. If you need answers today, call the sales manager.

Well then why in the hell did my sales guy tell me that?

I didn't ask about it... We sat down, discussed what the rates would be, and then he took all my info (SS#, etc.) and came back and I signed all the papers. Perhaps if my credit had been poor he would have come back and said "Well, it's actually going to be slightly higher" where as, if my credit was better than expected he wouldn't volunteer a lower amount since I had already agreed on the price.

What is your score? Why didn't you get letters from the Credit Card, I doubt even if you did forget that they wouldn't call.

Okay here's the happy ending to this story. I spoke with the Finance Director at the dealer that I ordered the car from, she told me that BMW is actually moving to a tier system because now their is some tax offer that they can make. When making the tax offer, they now use a tiered system. I really don't understand because it did not pertain to me after all. She said they are rolling it out to the regions and that's why Houston is doing it, and San Antonio is not yet, so the Finance guy here wouldn't know about it. She pulled my file and said it was great, and good to go. She told me I could calm down and sleep well tonight. I even had her run the numbers and they were very close to what my CA had given me. Good thing because my car is now waiting at the docks to come over the pond. Yippeeee!!

Glad that it's working out for you. I know the feeling, we had a small balance go unpaid and it went 30-day delinquent (stupid $50 balance on a Best Buy card that we thought was paid off so we just shredded the mail as it came in....OOPS!). Screwed our credit score for about a year. Frustrating, but we're back above 700 and life is good again!

Glad that it's working out for you. I know the feeling, we had a small balance go unpaid and it went 30-day delinquent (stupid $50 balance on a Best Buy card that we thought was paid off so we just shredded the mail as it came in....OOPS!). Screwed our credit score for about a year. Frustrating, but we're back above 700 and life is good again!

Yeah, I signed up with a credit monitoring service.

like everyone else stated already, it's either a hit or a miss, I liked the binary comment :) 0 and 1 . The guy is an engineer for sure