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BMW Finance PCP Voluntary Termination

Home Forums Car finance BMW Finance PCP Voluntary Termination

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This topic contains 1 reply, has 0 voices, and was last updated by Avatar Emma 1 year, 4 months ago.

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  • #129216 Reply
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    Jon

    Hi,

    Just checking to see has anyone VT’d early and not had to pay excess milage due to the Consumer Credit Act 1974 and excess milage not being legally enforceable.

    I’ve been reading a good bit about it on here and just wondering if anyone has actually been successful.

    Thanks

  • #129458 Reply
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    Emma

    Hi, I’m wondering the same thing. My boyfriend has PCP on a BMW 118d msport and we’re applying for a mortgage at the end of this year so want to get rid ASAP. We sat and worked out he can VT in November this year when he’s paid 50% of the Value. Only problem is, he’s already 1500 miles over his mileage allowance. I have read that if your car is in good condition you can argue the toss over the excess mileage as the car is still in good condition (which his is)

    Alternatively, would be looking to potentially try and change the car now or in November when the 50% has been paid; to a cheaper one with the same finance company so we can avoid the excess mileage charges. So keeping it with BMW and starting again on a cheaper car. Would we have to wait till the end of the 4 years to do this?

    So many grey areas on this topic! Thanks in advance.

    Emma

http://www.start-sport.com.ua