Do car finance companies always credit check existing customers?

dsj84

Hi,

I'm coming to the end of a PCP deal with BMW Financial Services. Question is - do car finance companies always credit check existing customers for a new PCP deal? I read somewhere they don't.

No change in circumstances since the start of my current contract; just curious.

Thanks

[Deleted User]

Some do and some don’t.

One search won’t affect anything if they do and if you’ve had no change in circumstance then I foresee no issues

Edi81

Many years ago (13+) I worked as an underwriter for black horse. They would credit check but if the new agreement was similar to existing and no missed payments on the current agreement chances were we would accept even if adverse on file.

What negatives do you have?

dsj84

Thanks both.

Nothing negative/no changes - was just surprised to hear there isn't always a search. It used to surprise me that O2 didn't credit check for a £1,000 upgrade to a new iPhone - thought a car would be different!

chanz4

I had an agreement with that company, cant believe how bad the customer service was. In the end I got a Halifax loan for half the amount