BMW demand full payment of modified M4 on finance

[Django x2]

Good!! Got enough money to spend on mods and ripped jeans but not clever enough to read the small print.

Finance Fail

I'd love to think our very own modified Superb owner takes note of..

When cars are modified, however, their value diminishes, potentially leaving the brand with a car that’s worth less than it would be if it were unmodified.

 

[Django x2]

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!

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.

 

[Django x2]

Do PCP deals by BMW finance operate in a different way than normal PCP?

I ask because I had a car on PCP for the dealer-benefits and finance protection and ultimately the PCP was for the entire cash price of the car minus the deposit.
So why would BMW be bothered about taking the car back if he's "devalued" it? He's still liable for whatever he owes, the lump sum / vehicle value is just if he wants to return it at the end of the PCP contract instead of settling up the remaining amount?

Genuine question as I'm unsure, but do they require you take out fully comp insurance or GAP insurance? What happens if he were to write it off and it becomes Cat * repaired - lowering the vehicle value?

There are no dealer benefits or finance protection with PCP, and by the sounds of it what you had was HP not PCP. Almost all PCP deals are financed to a balloon payment which is more often than not the Guaranteed Future Value or GFV.

In this case, BMW can no longer assume the GFV, something which will have been calculated at the start of the agreement, as it's been compromised by the mods

 

[Django x2]

Yes it's @Micloi car.

Yeah the guy who modded it on PCP and thinks it's now worth more than what he paid for it...