Bit of advice if anyone can helo

[chriskibbledj]

Hi all, I am hoping someone on here could help or point me in the right direction. I have spend a few weeks haggling like mad with my local dealer to get the perfect deal on a 2015 S1K, I have finally got an offer i could not refuse and i know it was an amazing offer. So i had to say yes, problem is he rang me back last thing yesterday and said the finance declined, I was mortified and embarresed i had spent all this time haggling to do that to them, I am shocked as i have my current one financed with BMW and no payments missed along with my mortgage, It was a problem i had with a contract with EE thats caused the low credit score.

Basically i managed to get them to up the PX offer on mine (2012 with 11k miles) from ?8400 to ?9250) which considering i paid ?9500 12 months ago is amazing, and to lower the price of their ex demo with 2k miles on to ?13,250... I pay ?136 a month for mine, and to change would be ?160, so ?24 a month more to change is a no brainer, hence why i really want this bike!

Now my girlfriend has offered to have the finance in her name but as it was coming to the end of working day yesterday he couldn't give me an answer but he said he don't think they will...... Does anyone else know a way of getting round this? as mine is also due a MOT and service next week which they said they wouldn't mind if i PX, so its in my best interest to get this deal sorted.

Thanks in advance

 

[Cavey]

Hey Chris, if your dispute with EE was their fault, you can demand that they notify Experian to get your credit score reinstated to its previous value. I had a similar dispute with a utility company which nearly resulted in a declined mortgage but i kicked off and they managed to sort it out at the last minute!

Hope that helps? Also i noticed that the BMW finance rates aren't actually that good?? I bought my S1k15 with a loan direct from my bank @ 3% ...might be worth investigating some other finance options?

Hope you get it sorted....the deal sounds good! ;-)

 

[soofsayer]

Bummer.

Cash. Or go to your bank, either way it sounds like a BMW pcp deal so you're a bit snookered. I was offered BMW finance this week, was told it would take a few days to get approved because they are very very careful with their lending now, and the new legislation has kicked in which has changed everything. It all went through fine but I paid cash in the end, don't like the never never. I'd get your credit record sorted out though otherwise it's going to kick you in the nads every time you want credit, even if you don't get this bike.

hope you get sorted either way.

 

[Marc A]

Hello

I work for a car dealership and purely deal with the finance side of things. I too have been in contact with my local dealer ref finance options and he has supplied me with all the relevant quotes.

As stated above banks are lending out some fantastic rates at the moment
and I will probably going that route myself. For example, 10.9% Apr via dealer and all FOR compliant companies now have to quote in Apr and not flat rates. Check out te sco and sainsbury for borrowing but check all paperwork before signing....what u see at 3 percent doesn't mean u will get the 3 percent unless u are squeeze clean on your credit profile

hope that helps

marc

 

[Cavey]

not sure if it helps Chris but my bank is HSBC...if you borrow ?10k you'd end up paying back around ?10,700 over 4/5 years ....not a bad deal compared to BMW! ;-)

 

[chriskibbledj]

Thanks all, but it was a pcp I was after to keep the monthly payments down, pcp is ?161 a month, ?13k loan is around ?280pm and at the moment that just isn't an option. It's a shame as my partner is willing to do it in her name but the sales man at BMW said the name on log book has to match the name taking out the finance, so it wasn't meant to be this time. Oh well... See what next year brings.

 

[joeman]

What about a zero percent credit card deal?
there are lots of good deal out there, just make sure you pay it off, or transfer to another card/loan before the zero percent runs out!!