Toggle Nav
Close

Already a customer? Read our disclaimer

As an existing customer you are eligible for a $200 reduction in your establishment fee and comparison rate

^Comparison rate based on monthly repayments for a 5 year secured consumer loan of $30,000. WARNING: This comparison rate is true only for the example given & may not include all fees & charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Terms and conditions

*From Alphera Financial Services (a division of BMW Australia Finance Ltd, Australian credit licence 392387) on a consumer loan. No other offers apply. Fleet, government & rental buyers excluded. Fees, charges, terms, conditions & approval criteria apply.

 

^Comparison rate based on monthly repayments for a 5 year secured consumer loan of $30,000. WARNING: This comparison rate is true only for the example given & may not include all fees & charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Remediation - Frequently Asked Questions

 

What is BMW Australia Finance’s customer remediation program?

We recently agreed with ASIC, the Australian regulatory body, that due to shortcomings in our lending processes we may have caused some customers financial hardship. We are committed to making the situation right.  Therefore, we have established a free customer remediation program that has been agreed with ASIC and will be overseen by an Independent Expert.

 

Who is eligible for the remediation program?

The remediation program is available to all BMW Australia Finance customers who entered into a consumer loan from 1 January 2011 to 31 August 2016. 

 

When will the remediation program start and finish?

The remediation program will commence from December 2016 and will remain open until 31 December 2017.

 

How do I contact BMW Australia Finance if I want to participate?

We will proactively contact customers which have already shown signs of financial hardship. All other BMW Australia Finance customers, should they wish to register for the Program, or have any further questions, can contact us on:

 

Phone: 1800 448 225

Email: CustomerFirstAUS@alphera.com.au

 

Post: PO Box 742, Mulgrave, Victoria 3170

Within eight weeks of the start of the registration period, we will proactively contact customers who have already shown signs of financial hardship and those who have registered.

 

How will BMW Australia Finance consider my situation?

 The remediation program is designed to compensate customers that have suffered financial hardship as a result of our lending practices. If you register with the program we will:

  •          Contact you to discuss your personal situation
  •          Assess any hardship you may have suffered as a result of our lending practices
  •          Offer you a fair compensation amount 

 

 

What if I disagree with the outcome of the remediation program?

If you disagree with the outcome of our remediation program you have the option to raise your concerns with the Credit and Investment Ombudsman on the below details:

www.cio.org.au

Phone: 1800 138 422

Email: info@cio.org.au

Mail: PO Box A252, South Sydney NSW 1235