bmwfs.co.uk

Do not believe the website - they are not there to help you

Further to my communication with the account manager at BMW Financial Services, explaining that I’d like to arrange a payment holiday for up to 3 months due to a change in my employment status and that I’m seeking advice on restructuring my finance. Whilst I fully appreciate there is a contract in place, the situation of negative equity in the vehicle is not in either parties interest to show a default notice on my personal credit file. This will only further impact the ability of me being able to settle the loan. I have offered to I make a reduced payment, within my means, which as been declined, and if I do not make the payment, a default not will be activated on my credit file. The impact of this by BMW FS, will result in the vehicle being repossessed, which I believe could be avoided by allowing me a grace period and to restructure my loan in line with the value of the vehicle and the contract value remaining. In my opinion, BMW FA website is misleading and BMW FS are not interested in supporting its customers in anyway through the cost of living crisis and this statement should not be believed. If you are thinking of taking finance to purchase a vehicle through this company, whether a BMW car or any other new or used vehicle purchase. Read the small print and do not listen to the sales person selling you your next car purchase. THEY ARE NOT FINANCIAL ADVISORS AND ARE ONY A BROKER FOR THE FINANCE COMPANY WHO PAY THEM A COMMISSION - PLEASE BE WARNED

Date of experience: Jun 28, 2024