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  • #1

    BMW Finance Default

    First of all i'd like to mention that the following account is not mine but belongs to my sister who i'm trying to help.

    My sister lives abroad in Greece and on occasion comes back to the uk to visit myself & my dad, back in 2008 she took out some finance with BMW to buy a car but due to the economic downturn her finances have took a very drastic turn for the worse.

    She has now defaulted on payments for the car and BMW have cancelled the agreement and have now given her a choice...either pay up the remaining balance of £5,0000 or lose the car altogether, BMW have mentioned that they will be seeking a court order to get the car back also she does not have the money to pay for the car and BMW are not aware that she lives abroad.

    So my sister would like to know is can BMW come to Greece to take the car and what with her defaulting on payments would she be placed on a default list for non payments on her credit file so to speak.
    Tags: abroad, account, cancelled, capital, car, court, credit, default, defaulted, eco, family, finance, finances, firm, greece, help, interest, list, loan, money, order, paid, payments, personal, personal loan, problems
  • #2
    Re: BMW Finance Default

    Originally posted by jinjoe View Post
    First of all i'd like to mention that the following account is not mine but belongs to my sister who i'm trying to help.

    My sister lives abroad in Greece and on occasion comes back to the uk to visit myself & my dad, back in 2008 she took out some finance with BMW to buy a car but due to the economic downturn her finances have took a very drastic turn for the worse.

    She has now defaulted on payments for the car and BMW have cancelled the agreement and have now given her a choice...either pay up the remaining balance of £5,0000 or lose the car altogether, BMW have mentioned that they will be seeking a court order to get the car back also she does not have the money to pay for the car and BMW are not aware that she lives abroad.

    So my sister would like to know is can BMW come to Greece to take the car and what with her defaulting on payments would she be placed on a default list for non payments on her credit file so to speak.
    Hi

    Some important info needed first really:

    Can you confirm if the finance is a personal loan or HP agreement?

    What was the total value of the finance? (This should be the capital+interest - any deposit paid)

    What was the term of the loan (number of months)?

    How much has sister repaid? (number of months or amount)

    When did your sister default?

    When did BMW finance cancel the agreement?

    Your sister needs to be very careful, as if the vehicle is on HP, technically BMW still own it and she should not have taken it outside of the UK without their permission.

    SnV
    "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."

    The consumer is that sleeping giant.!!


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    • #3
      Re: BMW Finance Default

      apologies for not getting back to this thread sooner, family problems to deal with..ok since my original post i've been informed that the car is being returned back to bmw. totally out of my hands now but i'd like to thank those who offer there help here as always, much appreciated.

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