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Stu McLoughlin

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Review of the Blue Motor Finance, Car Finance:

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Good service but.....

Ok, firstly, I should say that as with all car finance companies the interest rate you're going to be charged is higher than if you took out a personal loan - however the service received from Blue Motor Finance was good - albeit with a few areas that they need to improve on. My only issue is that if you want to make an overpayment to reduce the term or amount on agreement is a faff. You have to email or call them, they then send you a email with a PDF attached with a "quote" for overpayment and sometimes they ask for "proof of funds" requiring you to send in a bank statement??? Really?... which to me seems daft especially when overpayments are made by BACS transfer only. You either have the funds or you don't. I suspect this is most likely to stop money laundering however considering they credit checks that are needed in the first place to take out a finance agreement, it does seem to be a barrier to anyone wanting to make an overpayment and is just a pain. At present there is no system in place to setup a regular "standing order" for overpayments and this whole set of nonsense has to be gone through every single time. Painfully backwards. Reviewed on: 29th March 2023

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