Coronavirus. 3yr PCP Ending: are we forced to extend a year?
Discussion
My wife's Mini was on a 3 year deal which ends this month. We had planned to change the car as we need something bigger. (See my previous thread on the Mini Countryman).
We started looking a few weeks ago, and have briefly sat in a Countryman but never driven one: we were investigating a test drive when the Coronavirus pandemic struck and increased social distancing was advised. Now everything went into lockdown, closing showrooms.
Mini have been in contact regarding the usual options: extend, settle the outstanding finance or return the car. The issue we have is that we need to change the car but cannot reasonably do so at this time. We don't want to buy the car as then we'll have the hassle of selling after the restrictions are lifted and we can't just hand it back as she needs a car to travel to and from work. (As a hospital doctor things are pretty busy at the moment!)
I'm guessing we are not the only people in this situation. In view of the extraordinary circumstances the country is operating under at the moment and the increased leniency banks and lenders are showing because of this, I'm surprised we've been offered some kind of temporary extension until we can go out and sit in and drive the car we want to replace it with!
Is anyone else in this situation?
We started looking a few weeks ago, and have briefly sat in a Countryman but never driven one: we were investigating a test drive when the Coronavirus pandemic struck and increased social distancing was advised. Now everything went into lockdown, closing showrooms.
Mini have been in contact regarding the usual options: extend, settle the outstanding finance or return the car. The issue we have is that we need to change the car but cannot reasonably do so at this time. We don't want to buy the car as then we'll have the hassle of selling after the restrictions are lifted and we can't just hand it back as she needs a car to travel to and from work. (As a hospital doctor things are pretty busy at the moment!)
I'm guessing we are not the only people in this situation. In view of the extraordinary circumstances the country is operating under at the moment and the increased leniency banks and lenders are showing because of this, I'm surprised we've been offered some kind of temporary extension until we can go out and sit in and drive the car we want to replace it with!
Is anyone else in this situation?
I saw another thread somewhere which was relating to Audi rather than BMW/Mini so their criteria may be different but I understand Audi were saying you could technically hand the car back which involved leaving the car locked and secure preferably off road until such a time it could be collected but there was a specific stipulation which said you cannot use the car further which wouldn't be helpful to you.
Although it doesn't directly answer your question I don't know if you are aware but Hertz are currently doing a deal for key workers where you can hire a car for £1 per day for up to 5 days at a time. on cars upto Astra size. It may offer an alternative solution if you have to put the mini out of use.
Although it doesn't directly answer your question I don't know if you are aware but Hertz are currently doing a deal for key workers where you can hire a car for £1 per day for up to 5 days at a time. on cars upto Astra size. It may offer an alternative solution if you have to put the mini out of use.
Mefster said:
My wife's Mini was on a 3 year deal which ends this month. We had planned to change the car as we need something bigger. (See my previous thread on the Mini Countryman).
We started looking a few weeks ago, and have briefly sat in a Countryman but never driven one: we were investigating a test drive when the Coronavirus pandemic struck and increased social distancing was advised. Now everything went into lockdown, closing showrooms.
Mini have been in contact regarding the usual options: extend, settle the outstanding finance or return the car. The issue we have is that we need to change the car but cannot reasonably do so at this time. We don't want to buy the car as then we'll have the hassle of selling after the restrictions are lifted and we can't just hand it back as she needs a car to travel to and from work. (As a hospital doctor things are pretty busy at the moment!)
I'm guessing we are not the only people in this situation. In view of the extraordinary circumstances the country is operating under at the moment and the increased leniency banks and lenders are showing because of this, I'm surprised we've been offered some kind of temporary extension until we can go out and sit in and drive the car we want to replace it with!
Is anyone else in this situation?
The simple solution would be to extend the term, and then sell / part ex when business starts up again.We started looking a few weeks ago, and have briefly sat in a Countryman but never driven one: we were investigating a test drive when the Coronavirus pandemic struck and increased social distancing was advised. Now everything went into lockdown, closing showrooms.
Mini have been in contact regarding the usual options: extend, settle the outstanding finance or return the car. The issue we have is that we need to change the car but cannot reasonably do so at this time. We don't want to buy the car as then we'll have the hassle of selling after the restrictions are lifted and we can't just hand it back as she needs a car to travel to and from work. (As a hospital doctor things are pretty busy at the moment!)
I'm guessing we are not the only people in this situation. In view of the extraordinary circumstances the country is operating under at the moment and the increased leniency banks and lenders are showing because of this, I'm surprised we've been offered some kind of temporary extension until we can go out and sit in and drive the car we want to replace it with!
Is anyone else in this situation?
Quick update. After an hour on hold waiting to speak to Mini Financial Services last night (I'm guessing we're not the only ones in this predicament!) they were really helpful.
Offered two solutions:
1. Extend the PCP for 3 or 6 months more (further payments will come off the settlement cost), which is better if we P/Ex or buy outright, but not good if we choose to hand back. If we P/ex the car before the extended term the dealer will pay the final monthly payments.
2. 'Hand back' the car at the end of the term, but on the understanding that it can't be collected/we can't replace it until restrictions are lifted. Keep using the car until this time
Sounds like the second is a good option, although I'm trying to source a replacement car now so we can just P/Ex it when the ban is lifted.
Offered two solutions:
1. Extend the PCP for 3 or 6 months more (further payments will come off the settlement cost), which is better if we P/Ex or buy outright, but not good if we choose to hand back. If we P/ex the car before the extended term the dealer will pay the final monthly payments.
2. 'Hand back' the car at the end of the term, but on the understanding that it can't be collected/we can't replace it until restrictions are lifted. Keep using the car until this time
Sounds like the second is a good option, although I'm trying to source a replacement car now so we can just P/Ex it when the ban is lifted.
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