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BMW Finance Services

BMW Finance Services

1.7 from 20 reviews · View Statistics

Reviews

1.7

20 reviews
  • Transparency
    2.0 (10)
  • Customer Service
    2.2 (10)
  • Loan TypeFixed Rate (6), Variable Rate (1) and Split (1)
  • Application Process
    2.8 (8)
  • Timeliness
    2.6 (7)
  • Loan Term4.167 years
Previous
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Jacky

JackySydney, NSW

  • 4 reviews
  • 5 likes

Be very carefully when visit BMW. Push a few thousand dollars deposit and confiscation of deposit is how they make money

published

Be very carefully when visit BMW. They push you to pay a few thousand dollars deposit and oral approve your loan immediately. Took 3 months to process my loan application and requested me to cancel two credit cards. Eventually deny loan and confiscation of deposit is how they make money. My case is under negotiation now, and potential end up to go Fair Trade Centre or court later.

Incentivised ReviewNo
Bob

BobGreater Melbourne (Metropolitan), VIC

  • 2 reviews

An ongoing saga with BMW finance - keep away from this unethical organization.

published
Transparency
Customer Service
Outdoors_Guy

Outdoors_GuySydney, NSW

  • 36 reviews
  • 40 likes

high Fees and Average Rates

published

I've used dealer finance on a number of occasions because it is usually better and easier than my bank. I found my dealer was slower than normal to get documents and details to me and although the approval was fast I was surprised by the dealer and BMW establishment fees which were $1000. At the end of the day fees and interest rates are not the key factors to worry about, you need to look at the total you end up paying. No real complaint, my fault for trusting the dealer and not insisting on getting all the documents up front, I certainly wont be using BMW Finance and that dealer again

Transparency
Customer Service
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Duncan Conley

Duncan ConleyGreater Melbourne (Metropolitan), VIC

  • 7 reviews
  • 1 like

Deceptive & misleading organization

published
Transparency
Customer Service

BMW FINANCE is a rip off

published

I would never recommend BMW Finance to any one. I have been a customer for more than 15 years, but how I was treaded this time by BMW finance is discussing, there are a total rip of, never go with them. Be very careful to what you sign. They don't explant clearly but at the end of the contract they stab you bad. even though they had made so much profit for 5 years of the contract. Dont go with bmw finance trust me.

Transparency
Customer Service
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Unhappy Customer

Unhappy CustomerSydney, NSW

BMW Finance makes a profit on Agent fee

published

Been using BMW finance for 5 years, after we paid out the balance of the loan, found out today that BMW finance is making a profit by using Mercantile Agent as well and the margin is around 300%, good on them

Transparency
Customer Service

Daylight Robbery from BMW Finance

published

We have been using BMW Finance since 2012 till 2020, brought 3 cars from them, never missed a payment until 2020 March as our business got impacted by Covid-19,

Instead of talking to us first, BMW has hired agent broken into our property and towed away one of the car with no show of paper works and left no paper works behinds.

Caught by our security cameras that the agent forced the front gate open and then took photos from his own photo to pretend the front gate has been left open since he's there.

We try to speak to BMW about the issues instead of investigate into the matter BMW send us a invoice of $1500 for the towing and break in.

Such good business model BMW!

Transparency
Customer Service
Marcus

Marcus

  • 2 reviews
  • 9 likes

Appalling attitude

published

Alphera/BMW finance customer for over 20 years, never
missed a payment, never an issue until now. Apparently if I don’t buy a BMW or Mini from one of their dealers I can take my business elsewhere!
I can and I will........... but what an attitude!...........
Great way to lose customers guys, on finance and car sales!

Incentivised ReviewNo
iMan

iManAU

  • 17 reviews
  • 5 likes

Very easy to deal with

published

I approached BMW after reading about their offer of 0% loan on select motorcycles. I was a little worried at first because my credit score, when plotted on a chart, looks like a roller-coaster ride. However, unlike big banks that crimilise you for a credit inquiry on your file two years ago, BMW Finance asked me questions and let me explain my credit history. Two days later, my application was approved and I was riding into the sunset. Just what I'd expect from a reputable brand.

Transparency
Customer Service
Car Loans

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Zac S

Zac SGreater Melbourne (Outer), VIC

  • 14 reviews
  • 22 likes

Better finance company than others, low interest rate and low fees.

published

I've been with BMW finance before and satisfied basically no monthly fees and low interest rate. the only issue is you need to be registered for GST otherwise its hard to obtain approval. You can customise your residual to suit your repayments. I had loans with other finance firms but interest and fees were high over 15% overall plus had to pay huge early repayment penalty. With BMW this is not the case, you can repay early if you like only now small fee applies. Still better deal than other companies on the market and super low rate of under 6%.

Transparency
Customer Service
astraldinghy

astraldinghySydney, NSW

Be afraid!

published
Transparency
Customer Service
Incentivised ReviewNo
adzychester

adzychesterAU

  • 2 reviews
  • 12 likes

Disgusting and unconscionable

published
Transparency
Customer Service
Master of puppets

Master of puppetsCentral Queensland, QLD

  • 3 reviews
  • 4 likes

Don’t be fooled with them

published

Just a waste of time and will be giving the car back as there are lenders that respect the consumer as people below have said
They are terrible but at the end they will not get there money back. Beware people not to get a loan with them.

CJ114

CJ114South East Queensland, QLD

  • 14 reviews
  • 7 likes

Why is my review so different?

published

I've read the other reviews and I note that they are all negative. Is this because most people only write a review when they're unhappy? I've written a number of reviews, both positive and negative, always trying to be honest.
My recent experience with BMW Finance/Alphera has been nothing short of excellent.
Refinanced at end of lease, pleasure to deal with!

Mona Jaajaa

Mona JaajaaSouth-Eastern Region, NSW

  • 10 reviews
  • 23 likes

Money hungry

published
Car Loans

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Page 1 of 2

Questions & Answers

Jeje

Jejeasked

What the lowest repayment on the new x5 hybrid

3 answers

Well simply for 65000k vehicle the repayments where 820 a month$ with 20000$ ballon at the end of 5years

Jeje
Jeje

So can we say 100k car could have $40000 ballon at the same repaying?

CJ114
CJ114

Depends on the residual. 40% of 100k would be 40k.
As for the rate, that's between you and your finance company. Rates depend on many things, including credit rating, vehicle specs etc.

BWMBENZ

BWMBENZasked

Hi All,
I have visited deal in Melb CBD and applied finance on Monday .. how long does it take to process finance application to provide approval . Please help me with timeline need to decide somethign else based on the timeline

3 answers
CJ114
CJ114

My recent application was processed directly through Alphera and it took about 2 days. There were some questions they asked that needed replying that might have slowed the process but they were very quick.
Hope that's of some help

It takes about 2 days but be careful of the interest rate they put you on as mine was 4.5 and then went down to 2.6 per annum and if you can service the loan aswell as they don’t help you if you are in financial hardship

BWMBENZ
BWMBENZ

Many thanks CJ114 and Savlong I have applied sealer finance 4 days ago still
Waiting for reply from them...

michelle Cozens

michelle Cozensasked

Want to get payout figure

No answers

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