Car Leasing

PhilYeoman

I have been leasing cars for over 20 years with no trouble at all, until now.

Last September I signed a personal lease for a new BMW, paid my deposit and settled in for the six month wait for a factory order. Chased up beginning of this month to discover that the car was in build and arriving at the dealership week beginning 28th of March. The conversation seemed a little off and just as I was ending the call they dropped a bombshell. The car had been built to 2023 spec and because of this the cost would increase. The new spec has a slightly changes grill and and a larger center display. The retail price had gone up by around 2%. The dealer is trying to charge me a 17% increase in the lease!

I have never experienced this before. Am I been naive in thinking they should not be able to re-do the deal?

visidigi

What do your contract and your terms and conditions you 'signed' state?

PhilYeoman

The payments are only mentioned as fixed. Their is nowhere in the agreement where they state they can be changed other than if taxation amounts change.

Aylesbury_Duck

In which case, they have to honour the agreement.  If they won't, then you can cancel the deal.

Flight3287462

Cancelling the deal with lead times the way they are is probably just what they want.

PhilYeoman

I would prefer not to cancel as I am then without a vehicle. The Car is £135k so I don't expect it to fly off the shelf as at that price people like to spec just for them.

Aylesbury_Duck

PhilYeoman said:

I would prefer not to cancel as I am then without a vehicle. The Car is £135k so I don't expect it to fly off the shelf as at that price people like to spec just for them.

Whilst that's true, you don't need to tell them that.  Without the threat of cancellation, you don't have any leverage.  They're not going to want to be saddled with a £135k car built to someone else's specification.

Surely if you can afford the lease on a £135k car, you can afford an interim vehicle so that if you do ultimately have to cancel, you're not without a car?

It looks to me like you have a strong hand of cards here, but without seeing exactly what you agreed to I can't be sure.

Manxman_in_exile

PhilYeoman said:

I would prefer not to cancel as I am then without a vehicle. The Car is £135k so I don't expect it to fly off the shelf as at that price people like to spec just for them.

Please don't take this the wrong way, but if I could afford to lease a car with a purchase price of £135K, I think I'd be asking my solicitor what my options were rather than some random people on some internet forum... 

PhilYeoman

Manxman_in_exile said:

PhilYeoman said:

I would prefer not to cancel as I am then without a vehicle. The Car is £135k so I don't expect it to fly off the shelf as at that price people like to spec just for them.

Please don't take this the wrong way, but if I could afford to lease a car with a purchase price of £135K, I think I'd be asking my solicitor what my options were rather than some random people on some internet forum... 

Not at all. You are correct and ultimately it probably will end up there. The post was more to see if anyone else had experienced of this type of behavior!

m0bov

If they won't honour it, then they could be liable for the consequential loss of leasing from elsewhere. Def get some legal advise.

KatSam2742

Let me guess - Vanarama?