Can you get BMW finance with low credit score?

Paully232000

chelseablue wrote: »

When you say high APR how high roughly? 25%? Higher?

I am not sure what it would be exactly, only BMW will be able to tell you that. I can only say that it could be high.

chelseablue

Feel sick at the thought of it

Tiddlywinks

You say he's your 'partner' - why aren't you making this major financial decision together?

Just tell him you don't want another car or the added burden of finance.

chelseablue

Tiddlywinks wrote: »

You say he's your 'partner' - why aren't you making this major financial decision together?

Just tell him you don't want another car or the added burden of finance.

I have tried, he's not listening so far

Tiddlywinks

chelseablue wrote: »

I have tried, he's not listening so far

Then you have bigger problems in your relationship than just financial issues.

How do you usually make the 'big' decisions?

Paully232000

That's a bit harsh isn't it.

DCFC79

I notice from your signature your aiming for saving 12k in 2015, would you be able to achieve this if you had the car on finance ?

chelseablue

DCFC79 wrote: »

I notice from your signature your aiming for saving 12k in 2015, would you be able to achieve this if you had the car on finance ?

Good question, I've not worked it out yet.
I've never had a loan or anything on finance (apart from my mortgage)

Herzlos

chelseablue wrote: »

Had a look online and a used one is about £12,000.

Autotrader currently has 26 up for under £3000. Spending £12k on a mediocre car when you have poor credit is frankly stupid.

His salary is £27,000

He's wanting to borrow about half of his post-tax salary on a car? Bad, bad idea.

He has a credit card with Capital One (only a £450 limit and the balance is currently a bit over this)


In January we applied for a better rate credit card for him, but this was declined.

Doesn't sound likely if he's over the limit on a sub prime card and been rejected elsewhere.

chelseablue

Herzlos wrote: »

Autotrader currently has 26 up for under £3000. Spending £12k on a mediocre car when you have poor credit is frankly stupid.
I totally agree!



He's wanting to borrow about half of his post-tax salary on a car? Bad, bad idea.
Agree again! I earn £31,000 and I drive a 9 year old Nissan that is probably worth about £2k now.
Only got 33,000 miles on it, very reliable.
But then I've never been fussed about cars




Doesn't sound likely if he's over the limit on a sub prime card and been rejected elsewhere.

Responses in bold