Help & Advice

Declined by BMW for a car loan. Can you help?

I have been refused finance credit through bmw. Can i go and find another finance company who will accept me? Do BMW accept outside car loan companies? I have put a small deposit down for the car while i work out what i can do. Thanks.

Heather


Answer

Hi Heather, i hope you're well. Thank you for your question. We can certainly try and help get you approved for the BMW that you want. How much would you need and what is your total deposit? Have you checked your credit score/status recently to see what could be causing the issue? If we can get you approved BMW will accept funds from an outside finance company so don't worry about that. Are you on the electoral roll and can you prove your income? If so, please apply when you get 5 minutes. Regards, Rachel

Answer correct as of September 2016

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Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

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Rachel Wilson, Underwriting Manager

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Hitatchi

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender