Bad Credit BMW from MSG Cars
When making a list of the biggest and best known car makers in the world im sure that BMW will be close to the top.Customers looking for funding for a purchase using Bad Credit BMW Finance have struggled in the years that followed the credit crunch with lenders disappearing or shutting up shop. Top of the car lease bad credit wanted list – BMW are one of the big three in German and European manufacturers alongside Audi and Mercedes and you can be sure when consumers are writing out their wish list then a car from one of these three is on there. BMW are legendary in the UK and were often stereotyped when describing a typical driver. These days BMW have advanced and have visually stunning cars throughout the range – largely thanks to a man called Chris Bangle and his vision for BMW has divided the car makers followers who either love him or hate him. Bangle designed the 1, 3, 5, 6 and 7 series as well as the X5 and z4 during the period upto 2009 and led the impressive march of the German powerhouse into our motoring hearts with some storming offerings.
BMW start their line up with the 1 series – available in 3door and 5dr and is the small hatch offering that has proven very popular.Recently there has been a coupe and convertible option and both have proven excellent sellers.
The 3 series is the traditional model that BMW produce and it has been bulked up in recent years with muscular body styling to boot. All cars produced in any range are available in ES,SE or M-Sport variants both manual and automatic,petrol and diesel. Performance wise the M3 saloon and coupe is the wild child of the lot and even has a carbon roof in the 3 door.
The 5 series is a larger touring saloon that comes fully loaded with the types of features you would expect from this Germanic producer and is a popular model with customers looking for automatic transmission.
At the top end we have available the 6 and 7 series for the up most luxury and refinement. From the choice of wood,metal and carbon materials to the options list that incudes features such as heads up display and night vision this is simply the best you can drive.If you are looking for guaranteed car finance then this is a model to consider.
For those who require a four wheel drive alternative then the X3, X5 and recently launched X6 are pleasing alternatives to the Japanese stalwarts. BMW have added their sense of image and quality and helped take the popular perception of the 4×4 into the mainstream. The X-5 is one of the more popular cars we are asked to quote on for guaranteed car finance and guaranteed car loans.
BMW Funding options
A typical scenario involving our car leasing for bad credit customers goes something like this;
A decision to get a new car is made and this then involves a search using either online sources including the Autotrader and ebay or by visiting local dealerships to view the actual car or BMW in the flesh. At this point the consumer may or may not know that they have issues on their credit file but with many an application will be placed with the dealership usually no thanks to a highly developed sales patter. In all honesty in MSG Cars experience this part can be readily avoided if the sales staff had better concerns for the potential customer as opposed their sales targets but in any case a number of applications will be put into Prime – mainstream lenders in accordance with the particular dealerships work flow. As expected or not in some cases a series of declines will be the response and this is the dead end as far as the salesman is concerned – you might notice how uninterested they now seem and feel the need to leave! What has happened is that while you may or may not have told them about having poor credit they can’t see it hurting to try. All this does is reduce your already damaged credit score and cause more searches to be imprinted on the file.
MSG Cars then look to step in and this is where the real- hard advice is offered. If we don’t think there is a deal or that you are best to try again in a couple of months – we will tell you that. There’s no car on the table as far as we are concerned and so we won’t ever push any applicant into further damage but thankfully we operate with a near instant decision system. This means that once you apply with us we can tell within 1 hour if we can proceed. The car you might have already placed a deposit on can be rescued and all that is left is to sign the car finance agreement. If you would prefer one of the agents to run through this with you why not give the office a call or complete the call back request.
Common FAQ’S for Non Prime Car Funding
With all applications you will need a Full UK passport that is valid or if this isn’t available we will need a copy of your birth certificate. The name that is on the identification needs to match that on the application form completed.
You will also need to provide two months payslips or bank statements to support your proof of income.
The clock starts as soon as you hit send on the application form on our website and you can be assured of a quick turnaround. The great majority of customers will receive a decision Instantly with the rest within the hour and so there is no waiting days for someone to come back to you. As soon as you have then picked your new vehicle and are happy with the price we can issue your finance or lease documents for you to sign and return. All that is required then is for us to send the dealership the funds and away you go in your new motor!
With all of our current Car Leasing and outright Finance lenders you will have to contribute some form of deposit or initial payment – either by way of cash or your existing car as part exchange. This amount on most cases works out at around four times the monthly repayment amount as a minimum but on applications with a better credit score we can offer a reduced amount of £600. The higher the deposit amount though – the lower your monthly payment will be!
We can fund any car on finance providing it is purchased from a dealership and has less than 70,000 miles on the clock. It can be no older than 7 years in age either and we do prefer customers to use garages that have a decent forecourt with at least 10 cars for sale. It is just the same process if you were a cash buyer so even if your local dealer has declined your application we can make sure you still get the car you want.
In the eyes of the right type of lender and Bankruptcy will usually mean that a person has no outgoings other than rent and essentials and so has a clean slate as far as credit is concerned. This means that they are much more likely to be able to afford repayments – even when compared to someone with perfect credit but lots of obligations such as Mortgage, Bank Loan, Car finance and Credit Cards! Our lenders will consider all discharged Bankrupts.
With mainstream lenders and the type of finance companies that dealerships like BMW work with they have a certain level of risk that they are allowed to operate under. This means anyone with poor credit misses out as they fall short of being acceptable risk to their business. With MSG Cars we have access to specialist lenders who are prepared to take that extra risk in return for a slightly higher payment. Deposits are also now the lowest they have ever been and this means you can drive away in your car for only £600
You can go to any BMW dealer that you like but we do have certain authorised BMW and specialist dealerships we often work with. Providing the company selling the vehicle has a forecourt or lock up premises with at least 10 cars we can look to purchase from them. Its important once approved to make sure no more credit searches are carried out as this has been known to effect cases further down the line.