Voluntary Termination of PCP - Condition of Car

storage2012

I'm in a position to voluntarily terminate my PCP agreement on my BMW this month as will have paid 50% as of my next payment on Monday. My car is worth considerable less than the settlement figure and my intention is refinance / lease another new car.

I have spoken to BMW finance about doing this and they were quite helpful in explaining how it would happen etc. I feel quite comfortable that this is the best option for me but would like to know if anyone else has experience of VTing with BMW and what are the expectations with regard to the condition of the car?

I understand that wear and tear is allowable but what does that actually mean with regard to minor stone chips, scratches etc.? Where is allowable as wear and tear and what might be seen as outright damage that I might be charged for?

My car is generally in mint condition, has been valeted every 2 weeks since new but does have some scrapes on the front alloy wheels (the back pair are perfect), minor stone chips and a minor scruff on the bumper (but not so minor that it will buff out). A dealer would definitely refurb this details before reselling it and I'm confident it won't cost BMW a fortune to do so, but am I likely to saddled with a bill after VTing? Should I take the hit myself and get these things sorted before returning it or should I chance it?

Cheers.

Tiddlywinks

storage2012 wrote: »

My car is generally in mint condition, has been valeted every 2 weeks since new but does have some scrapes on the front alloy wheels (the back pair are perfect), minor stone chips and a minor scruff on the bumper (but not so minor that it will buff out). A dealer would definitely refurb this details before reselling it and I'm confident it won't cost BMW a fortune to do so, but am I likely to saddled with a bill after VTing? Should I take the hit myself and get these things sorted before returning it or should I chance it?

Scraped alloys and scuffed bumper is not 'wear and tear' it is damage.

Stone chips will be considered based on how many and if they've been touched up or have started to degrade - as you are expected to deal with these as part of protecting the paintwork.

Yes, you will be charged general market rates for addressing any required work - why wouldn't you be? Only you can decide if it's worth getting the work done behorehand.

molerat

https://issuu.com/bfwsn67/docs/car_fwt_standard_2015?e=2001091/11899511

Scrapes to alloys are generally not acceptable, may be worth getting them done yourself.

storage2012

Solid advice from you both. Get the car right up to "scratch". :-)
Cheers.

storage2012

Thought I'd post a follow-up as I've been able to find some more definitive information on the subject from BMW themselves:

http://www.bmw.co.uk/en_GB/topics/financial-services/existing-customer/returning-your-bmw.html

There a link to download the charging guide and a video explaining what will be charged and what won't.