BMW demand full payment of modified M4 on finance

It even says on the V5 (in big letters) it isn't proof of ownership. You need a receipt for the car and you won't get one unless you've actually bought it, just like deeds for a house. But people are dumb I guess :/
 
In the video he says he had planned on keeping the car for 1 year. So was he gonna take off all the mods? Seems like it was obvious he was gonna have problems.
 
Kenai said:
HP isn't yours until you pay it off, it belongs to the finance company, same as PCP.

The very name 'hire' purchase should give enough of a hint it's not just a straight purchase.
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TBH it's all variations of the same thing. If you buy a used car with any kind of finance remaining on it the person advertising it isn't really the owner. Which is why most people won't touch it.
 
Living life on jam butties. Financing a lifestyle to keep up with all the other flash YouTubers.

Obviously judging heavily there but seems life is on tick for many; half their house deposits are borrowed, cars on PCP and life to live on top. Surely it's stressful when time starts running out for balloon payments, negative equity and paying back government house deposit loans. After you've paid out £££ you might not actually have something to show for it in the end which is crazy really.

The worst part is it seems we can all go out and get these deals but not realise they charge for any damage to hand it back, expect big balloon payments or know you don't even own the car at the end. Is it lazy convenient "buying" or is it mis-selling?
 
What will twist my knickers is if he'll crowdfund to buy the car outright.
Blimmin charlatan.
Bet loads of dumb people will donate as well.
Basically buying a car for a random stranger just because he ****ed up
 
Kenai said:
HP isn't yours until you pay it off, it belongs to the finance company, same as PCP.

The very name 'hire' purchase should give enough of a hint it's not just a straight purchase.
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Indeed. The point is, if the car is effectively security for the loan then the bank has certain rights over the vehicle. To own it outright you need an unsecured loan, which is typically more expensive for obvious reasons. PCP is effectively HP with a balloon (or break clause) part way through instead of seeing it through to the end.
 
IAmATeaf said:
When I first saw his woe is me he made it sound like he had purchased on finance therefore the car was his? But then mentioned BMW Finance!
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Any dealer/manufacturer finance, PCP or not, would end in the same way. Personal cash (full amount or part Bank Loan) is really the only way to own a car and modify it at will.
 
If people are daft enough to modify something they don’t own, then they invite the actual owner to exercise its rights under the contract.

The Seat example linked is equally funny, the guy had multiple opportunities to make more appropriate choices, agree to pay the dealer for diagnosis, pay a 3rd party to recover/diagnose it, instead he took a heavily modified car to a dealer under its recovery and then got upset when they said they wouldn’t touch it.
 
weathmatth said:
The guy probably didn't make the best choice by modifying a financed car, but to call him a cretin after watching one video is a bit harsh. I personally think that the videos he puts out in terms of quality and content is extremely good.
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He comes across as educationally sub-normal, he talks like a cretin and he behaves like a cretin. It's hardly a stretch to suggest he is a cretin.
 
Dogbreath said:
He comes across as educationally sub-normal, he talks like a cretin and he behaves like a cretin. It's hardly a stretch to suggest he is a cretin.
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He talks as though he's from south London, which I'm fairly sure he is. You can't exactly call someone a cretin based off of that! I agree that he's been a bit of a wally but I think you're taking it a bit far.
 
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