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Will a car dealer let me finance car repairs?
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Will a car dealer let me finance car repairs?

01/02/2022

You don’t know what you've got ‘til it's gone, and that’s definitely the case when your car is out for repairs.  

Being suddenly car-less can upend your life completely. How do I get to work? How will I get the kids to school? Where will I find the money to pay for servicing and parts? As with most major purchases there are options for financing, from simply putting it on your credit card to getting a loan from a lender. But your credit card limit might not be enough, and even if it is, today’s card interest rates can be punishing.  

A car repairs loan might be a more attractive option, but they can be time consuming and complex to obtain, with applications, credit checks, and long waits. Meanwhile you’re still stuck without a car. 

Most of us take our cars back to the dealer when something goes wrong. But will a car dealer let you finance an unexpected repair job? 

The answer is ‘sort of’. While many manufacturers have established repair financing programmes for new car owners, not every dealer in their networks takes part. When they do, you may have to visit the dealership to complete an application in person.  

After that, the number of payments you can spread the cost over are often restricted to two or three. For repair jobs above £2,000, the approval processes and credit checks typically get tougher. 

And what do you do if you own a used car or one that’s no longer covered by manufacturer's warranty? 

Luckily, there are new finance options available to help get you back in the driver's seat with minimum fuss and without gouging you with extra fees or high interest. 

A better way to pay 

New digital platforms are changing how we select and pay for products and services. Services like Klarna, for example, let you pay ‘buy now and pay later’ (BNPL) for things flexibly. You can make a purchase and try it out in real life before paying, or spread the cost of a larger purchase out into easy instalments. If you commit to a fixed schedule of payments at a fixed amount, the additional cost is often zero. 

That’s where Bumper comes in. We’re addressing the evolving ways customers want to pay for goods and services by bringing easy 'pay later’ options to the automotive sphere.

What’s the secret? Bumper lets you split hefty a repair bill into smaller, easy-to-manage, interest-free payments. 

How it works 

Bumper offers car owners a simple four-step process for using its BNPL service. 

First visit our home page and enter your vehicle registration and postcode.  

After that you search for a local repair centre and select the one you want.  

Then complete a soft credit application for up to £5,000 and receive your unique Bumper Code  

Processing typically takes less than a minute. Once approved you can book an appointment at your chosen garage  

When agreeing the cost of the repairs, drivers simply give the garage their Bumper Code. They’ll send a link to your smartphone, where you can choose how you want to spread out the payments. 

Just pick the number of months you want to spread the cost over and fix a suitable date to complete the payments. You can even use Apple Pay or Google Pay to set it up.  

Bumper ensures that you never pay more for servicing or repairs when spreading the cost. And the maximum credit limit you’ve been offered is never shared with the garage. 

About Bumper 

We’re a fintech startup founded by entrepreneurs James Jackson and Jack Allman. A few years back they saw a market opportunity to bring a BNPL service to the car repairs and aftersales market. The platform they’ve created provides car owners with a simple, interest-free way to access flexible payments that’s both mobile and fully automated.  

Car owners love Bumper, and so do garages. Our unique AI-driven automotive scorecard helps avoid loan defaults. Over 60 percent of Britain’s franchised UK dealers are already using us, including Ford, Volkswagen, Nissan, and Jaguar Land Rover, and Nissan. 

Stop worrying about unexpected repairs 

At Bumper we’re committed to giving car owners more financial flexibility by taking the worry out of unexpected car repair costs. 

The automotive sector can be a bit old school when it comes to technology, but offering a BNPL option can help move it more in-sync with consumer buying habits. In the COVID era people have massively pivoted towards digital payment methods. Bumper is helping bring the automotive aftermarket into the digital age. 

Want to learn more? Visit our How It Works page and try the online calculator. 

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*By using Bumper, you are taking out a form of credit. You must be 18+ & a UK resident to apply. There are no fees, no interest or additional charges, however missed payments may incur a £12 administration fee and may impact your credit score. In extreme cases, recovering missed payments may include using a responsible debt collection agency, or as a last resort, taking legal action. Bumper’s instalment credit products are not regulated by the FCA.