Mis sold car deal

desigap

I am in position of having bought a BMW car four years ago - the third one from the same dealer. This is the first to go the whole time without a trade in. I rang BMW financial last week to find out how they were going to pick car up - I have always bought PCP ie at the end of the deal you either pay the car off or hand the keys back over.
I have now discovered that I have never signed for a PCP but a Lease Purchase so now have to find £14.2K by Monday!!
On each occasion I have sat round the table with the Salesman and made it clear what I expected on the finance of the deal and having agreed the deal, shaken hands.
I am obviously a fool to trust both the Salesman & the Dealer[BMW] as I have signed the contract blindly [expecting it to contain exactly what we have discussed!]
I feel that I have been mis sold but the Dealer says that it would have been made perfectly clear what the deal was.
Anybody else had the same misfortune or am I really that stupid and naive?
The BMW is based in the Teesside area.

smitchy73

desi, you're not the only person affected by this, there are similar people further on in the list of threads who have all had similar problems, believing they were in PCP but in fact not, others being told their cars would be worth £X in 3/4 years time, but going back after 2 years and only being worth £Y and a big difference between both.
Scroll through the threads and I'm sure you'll find it. There may be some good discussions there for you.

C_Mababejive

Hmmm...maybe salesmen make more commission on leases than PCPs so they..erm..made a mistake when they signed you up??

plane_boy2000

Do you know what its worth? As you are a regular customer is there any chance that they would take it back at an amount that would cover the payment?

I guess that if you cant find the money and are credit worthy then they could refinance the remaining amount into HP or something?

Have you checked what you signed up to carefully - its going to be difficult to prove you were miss sold

Hintza

Trust nobody and read the contract.

desigap

I think in every corner of my life in the past ten years I/ we are getting screwed over - as I said before I am a very trusting person, but I now find my self doubting everybody I deal with - this should not be like this!
The dealership is basically washing it's hands of me, they just say a Lease Purchase is what I took out and no amount of he said/ I said will change that - strange how I have a limited mileage on my agreement - if I was ment to buy the car at the end of the agreement, no matter what, the mileage would not be an issue - it was there to assist in the illusion of the PCP. My only option at the moment is to arrange for the finance arrangement to carry on at the same monthly rate and try and sell the car for as much as I can - the best I can expect is about £11K to £11.5K so I need to find £2.8K!

Hintza

Don't get me wrong I think many of us would be in the same boat.

When I signed my last lease I asked if VED was included and was told yes. I managed to pick one if the few that didn't include it so I lost another £500. By not checking the paperwork thoroughly.

Is the mileage issue something worth looking at?

Pew_Pew_Pew_Lasers!

I'd try a letter to BMW head office. You're a repeat customer so they may be more sympathetic to your case.

If it all goes sour, make absolutely sure you remind the dealer that they've just lost your custom, permanently.

LandyAndy

Pew_Pew_Pew_Lasers! wrote: »

I'd try a letter to BMW head office. You're a repeat customer so they may be more sympathetic to your case.

If it all goes sour, make absolutely sure you remind the dealer that they've just lost your custom, permanently.

TBH he's bought three cars from them in, say, ten years. I doubt they'll be much bothered.

Hintza

LandyAndy wrote: »

TBH he's bought three cars from them in, say, ten years. I doubt they'll be much bothered.

Crikey I think that is pretty good. Don't think I've been back to same dealer twice.

neilmcl

LandyAndy wrote: »

TBH he's bought three cars from them in, say, ten years. I doubt they'll be much bothered.

I'd say that's fairly regular myself, should be enough to score points with BMW customer services.