bmwfs.co.uk

Avoid any finance with these people!

Absolutely useless company. I speak from a vast experience of finance having purchased many motor vehicles over the years. Never have I had a problem with the companies, settling the finance or making payments until I met BMW finance. All these finance agreements did result in me having an excellent credit score and never once have I been refused a 'deal'. This deal was for a BMW motorcycle of about £15kWhere to start? I wanted to make bulk payments and having registered on their portal I was a bit dismayed that you cannot get a settlement figure just like that and you have to wait a couple of weeks for it to be posted. This is not the norm, trust me I know! As I was not paying the whole thing off I went ahead and paid a large sum (which is allowed on my agreement) of about £10k. Later I then had enough money to settle the finance, but again because of their portal I could not get an exact amount so worked it out for myself and paid what was left (as far as I could tell from the portal). This is where the problems started! I then received a phone call to say that I had over paid and they were going to refund me just over a £1000. I thought it strange as my workings out couldn't of been that far out surely, but as they are the finance company, they should know, so I said ok. I then started receiving letters saying that I was overdue with a payment as I had now cancelled the direct debit (why shouldn't I the guy had said I had overpaid). The portal had been closed down to me and I could not reregister so I was in their hands. I rung them and they said I shouldn't have had the refund and in fact I owed them a months money. I paid this, but low and behold they then said I was in credit again, so made me another refund. Once again I then started getting letters saying I owed them money. I rung again and was told they did not know why I was getting the letters as the 'deal' was finished. The letters continued and then phone calls chasing me for money and I was told there was a small amount still to pay. I refused and escalated the complaint. I then got a letter that offered me compensation and that the small amount (about £50) would be wiped off. I signed the acceptance letter but stated in big letters that I was accepting the offer on the condition that finance agreement was now finally complete. Obviously they did not read that bit as the letters and phone calls then started again chasing me for money (about £300)! I told them there was no way they were getting anymore money from me and they should take me to court so my solicitor and the judge could have a good laugh at them. This they did not do but sent me letter after letter. I have recently noticed that my credit score is now terrible and the only thing that could have affected it is whatever BMW finance has done at their end as we have neither took out any new finance or defaulted/missed payments on anything. The amount I owe totally over my cards & loans etc is lower than it has ever been also so it can only be BMW Finance. Against every bone in my body I have reluctantly paid the £300 they say I owe as I need my credit rating back up, but am waiting for a full credit report to come through. If it is BMW finance I will be taking them to court as none of this is my fault and I have all correspondence to prove it. Avoid any agreement with BMW Finance as they have no clue what they are doing.

Date of experience: Mar 31, 2024