Voluntary Termination With BMW

Shammy67

Thanks for the quick reply.

Im taking the line that i was mislead by the dealer who is trapping car buyers into returning to trade in the car with them otherwise your stung for mileage charges.

Your running 6 months ahead sp good luck and let me know how you get on

Cheers

kazmire

Hi Shammy & Fergy - I'm currently considering VT for the same reasons as you guys - fully roped in to the 8k miles and don't worry about it spiel! (so angry about it!)

Just wondering how you both got on with your claims? Should I pursue or bend over and take the charges if I VT?

I heard on the news the other day that PCP miles mis selling, such as "don't worry about the excess miles" and "by the end the car will be in equity enough to serve as deposit for your next car" is set to be the new PPI! I've been caught by both of these! My 3 year old BMW is £4000 in negative equity, with £2500 of excess mileage charges, that's still a negative of £1500. I even said at the time "I'm not happy with this, I do 12-14k at the moment" and he was adamant I didn't need to worry! I don't even have the option to trade in now as I know £1500 will have to be sunk in to the new deal, so I think VT is my only option!

So even if not successful, keep hold of the paper work for the future!

AdrianC

kazmire wrote: »

I heard on the news the other day that PCP miles mis selling, such as "don't worry about the excess miles" and "by the end the car will be in equity enough to serve as deposit for your next car" is set to be the new PPI!

Oh, good. Another one. Just what the world needs.

neilmcl

kazmire wrote: »

Hi Shammy & Fergy - I'm currently considering VT for the same reasons as you guys - fully roped in to the 8k miles and don't worry about it spiel! (so angry about it!)

Just wondering how you both got on with your claims? Should I pursue or bend over and take the charges if I VT?

You do realise the thread is nearly 1 year old and the posters in question have not contributed since.

kazmire

Yep, thanks - realise it's old and that they've not contributed since (I did check this out), but still worth posting to see? They might get a notification!?

K_Fergy

Kazmire,

My VT was 2 years ago now, and every 6 months they send an invoice which is done from there automated system. I return it to sender as unopened.

I initiated my VT on the 7th of December 2015 with a letter in line to the requirements of my
contract sent via email to BMW customer Services.
I got a response email on the same day to say my request to terminate was received and has been processed and the voluntary termination figure was to be paid no later than the 25th of December.
I then got a letter in the post on the 10th of December dated the 8th of December which give the same information as the response email but with the additional words to say "Further to written instruction your agreement has been terminated" it then stated that the termination figure was overdue. This was paid on the 14th of December.
The vehicle was then collected on the 18th of December (10 Days after termination confirmation)
Another letter was received, dated 23rd December 2015, from BMW Financial Services, advising me
that there was now a charge for pro‐rated excess mileage (5 Days after the car was collected & 15 Days after termination confirmation letter dated 08/12/15)
My stance was that Under the Termination clause of my agreement I am only liable for “any arrears
and any other sums which have become payable under the agreement prior to termination”. This
therefore ensures that my liability for any such sums can only occur prior to confirmation of the
termination; however, BMW confirmed termination of my agreement on 8th December 2015. Once
the agreement is terminated, I have no further obligation under this contract and therefore am not
liable for any other costs, including excess mileage charges, damages or arrears as termination
confirms that the contract has been settled in full.
They then sent another invoice dated the 30th of December (22 Days after full termination) for payment,

The finance agreement is on my credit report and it states that it was VT'd, this has not affected my credit score but will stay on there for a period of time.

I'd say go with the VT option as it's within your rights and stick to your guns.