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Repayment Plan

Repayment plan request form

If you are already experiencing or expect to experience temporary payment difficulties as a result of the current rising cost of living and wish to arrange a short-term repayment plan with us, please complete this form.

Please note, if you hold multiple agreements with us, you will be required to complete a form for each individual agreement you require support with.
 
Important: A repayment plan will be reported to the Credit Reference Agencies for any active agreements as ‘in an arrangement’, along with late payment arrears markers which other lenders may review when making future lending decisions.  Whilst no additional interest will be applied to your repayment plan, a reduced repayment plan will increase your monthly payment in subsequent months.  You should therefore consider this increased monthly cost carefully before entering a plan.

Please note that if your next scheduled payment is due in the next 5 working days we may not be able to set up your plan until the following months rental. Please do not cancel your direct debit. 

Please complete the form accurately in order to avoid any delays with your request being processed.
Your details
Agreement information
Payment Information
Assessing Your Affordability

As responsible lenders, it is important that we only agree a temporary repayment plan for you after assessing that the alternative amount is affordable for you.  The quickest and most convenient way to assess your income and expenditure is through the use of Open Banking.  

Open Banking is provided via NEOS, a Credit Reference Agency and Open Banking provider, regulated by the Financial Conduct Authority (FCA).  Open Banking allows a ‘one-time’ snapshot of your bank account and has no impact on your credit score.  Using this method of assessing your affordability removes the need for you to gather the important financial information required to complete a manual Income and Expenditure review.

Please indicate below how you would like to complete your Income & Expenditure review.

Please indicate below how you would like to complete your Income & Expenditure review.
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Click here to complete the below details before submitting your plan request form.
Affordability
Your Monthly Income
Your Monthly Expenditure
Vehicle Expenses for all vehicles in household
Other travel expenses for household

Customer declaration:
  • I am the customer named on the agreement.
  • I am experiencing or expect to experience temporary payment difficulties as a result of the current rising cost of living.
  • I have read the explanatory wording, ‘Our Repayment Plans explained’ on this website.
We confirm that:
  • a Repayment Plan to reduce your current monthly repayment to us may be available for a specified number of monthly payments, depending on your circumstances and will increase your subsequent monthly payments to us once the plan period has ended, 
  • you can stop the plan at any time by repaying any arrears to bring your agreement up to date,
  • free and impartial debt advice is available to you which may help you decide if a payment plan is the right option for you. Please see the ‘Our Repayment Plans explained’ page on this website for details.
BMW Financial Services, MINI Financial Services, Rolls-Royce Motor Cars Financial Services, BMW Motorrad Financial Services and ALPHERA Financial Services are trading names of BMW Financial Services (GB) Limited.

BMW Financial Services (GB) Limited collects personal data about you (“your information”) for the purpose of administering your account or providing a service you have requested related to your agreement, including responding to your enquiries and complaints. As part of the processing of your personal information provided on this form, we may make decisions by automatic means. You have rights in relation to this automated decision-making. If you want to know more please contact us using the details above/below.

The privacy and security of your information is very important to us so we want to assure you that your information will be properly managed and protected.

Further details on how your information is used, how we maintain the security of your information, your right to access information we hold on you and details of relevant third party and BMW Group companies with whom we share your information are in our Privacy Policy which is here or can be requested from dataprivacyofficer@bmwfin.com.

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