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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Car Loan for BMW 7 Series

Hi, I have applied through big cars ltd for a BMW 7 Series valued at £12,999 and they said their main lender declined me. They said they would try another lender for me. I am worried i will get declined again. I earn £37147 per year and have a credit score of 939 on experian. What's my best option and can you help? I have no deposit.

Posted by Haydon on

Answer.

Hi Haydon, thank you for your question.

You seem to have a good credit score and I'm racking my brains to think why you would be declined. Are you on the electoral roll at your current address? Have you moved house recently? Please let me know so that i can advise further.

If you are on the electoral roll we should be able to help even though you do not have a deposit. Has the dealer been back to you yet with regards to this "other lender"? We could have you approved within an hour and get you driving your BMW 7 series within 2-3 days. Keep me posted. Kind Regards, Edwin

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Question.

Hi, Yes iam on the Electrol role, I also applied with "What car credit" as they were approved by Credit Expert. But none of these companies are getting back to me and my score has now decreased to 853 from 939 due to the searches they have made. I thought financing a new car was going to be a pleasant experience. What is my best next move.

Posted by Haydon on

Answer.

Hi Haydon,
I would advise that you apply with ourselves. If you provide me with your reference number I will look into it straight away for you and come back with an instant decision. If we are able to get you approved, we can get the documents out to you on the same day and hopefully have you driving your new car within a few days!
I hope this helps. Edwin

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