Warm reminder: all cars will go to the central bank for credit information, so they will also check your credit information report.
The credit report will show your name, ID number, home address, work unit and so on. The loan information will show the loan issuer, loan amount, loan term, repayment method, actual repayment record, etc.
1. Does BMW finance loan check credit information?
Yes, the credit report will leave a record of loan approval. If the total number of queries is too large, it may affect your reputation.
2. What is the impact of BMW financial loans on credit reporting?
1 Ensure that the financial arrears of BMW are settled in time and all expenses are paid;
Once overdue, bad records can be automatically cleared after five years of repayment, and loan business can be handled normally at that time;
3 if there is no repayment, the bank can trace it back once after five years, and the non-recording period will be increased by five years;
4. If the circumstances are bad, it can be traced back to permanent preservation;
5 during the period of bad credit investigation, you can't buy train tickets or plane tickets to travel;
6 during the period of bad credit investigation, you can't use loans or credit cards;
During the period of bad credit reporting, travel abroad is restricted.
3. What is the impact of BMW Finance's non-repayment?
First of all, the customer service staff will arrange the collection, specifically telephone contact, SMS notification, and may call your contact person.
Because BMW will install GPS, if it doesn't get on after a certain period of time, it may be tracked and towed away, and it will be necessary to pay off the arrears before returning the car.
If you don't repay for a long time, you may be sued in court. Once you refuse to repay, you will be applied for enforcement.