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Car finance/personal loan
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keemagracie
Posts: 2 Newbie
After contacting BMW about the DCA on car finance. I have found out that while taking out car finance a personal loan was also taken out!, without my knowledge. We would this happen and what can I do? Anyone else had this?
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Comments
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Seems like a bizarre thing to happen.
a) any paperwork issued at the time is also followed up in the post.
b) statements are issued
c) monthly payments are set up.
So, there is an awful lot of things to miss there.
BMW finance also do not do personal loans.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you for your reply. Monthly payments were set up, but just one total payment. Now when I have asked for a copy of the statement it is broke down into 2 payments, one for the finance and one for the personal loan. It was BMW themselves who have told me it's a personal loan, hence, I knew nothing about it. Very confused!0
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