Voluntary Termination

[The Livster]

Anyone got any experience of VT with BMW FS. If I decide to proceed with VT would I be able to finance a new vehicle with BMW or would they decline. I realise it should not be an issue with another lender.

[jontymo]

Yep did in January, no issues whatsoever.

If you are buying another BMW why don't you go through px with them, they will inform you if better to VT for a deal.

[The Livster]

jontymo said:

Yep did in January, no issues whatsoever.

If you are buying another BMW why don't you go through px with them, they will inform you if better to VT for a deal.

Thanks, at the moment I am just weighing up all my options, ( p/ex, lease , vt ) will be June before I make a move

[theboss]

I VT’d a car with BMWFS and then signed another agreement shortly after. They couldn’t have made the process any easier to be honest. I received and settled an invoice for excess mileage but apart from that a bloke from BCA turned up, gave the car a once over and that was the last I heard of it.

[Wills2]

You'll have zero issues VT'ing a car and then getting another with BMWFS.

[The Livster]

Thanks for the reply’s guys, sounds like it may be the way to go for me

[CooperS]

Due to the miles I had racked up BMW encouraged me to VT. Process was easy and BMW and collection team were on the ball.

[The Livster]

CooperS said:

Due to the miles I had racked up BMW encouraged me to VT. Process was easy and BMW and collection team were on the ball.

Thats encouraging , my milage will be within agreed allowance so hopefully an easy process

[smashy]

CooperS said:

Due to the miles I had racked up BMW encouraged me to VT. Process was easy and BMW and collection team were on the ball.

....but you did have to settle up excess mileage I guess so why did they encourage you ?

[CooperS]

smashy said:

CooperS said:

Due to the miles I had racked up BMW encouraged me to VT. Process was easy and BMW and collection team were on the ball.

....but you did have to settle up excess mileage I guess so why did they encourage you ?

Sure but for an i3 in 2017 the contract was 3.9p per mile (I think) so paid less than £400 as a fine. If I had paid more attention I wouldnt of been on 20k mile PCP I'd of pushed it down to 12k.... The increase in mileage think put £80 per month but you live and you learn.

[The Livster]

smashy said:

...but you did have to settle up excess mileage I guess so why did they encourage you ?

Can’t charge for extra miles if you VT , may try but can’t enforce it so long as you did not sign anything after informing them .

[The Livster]

Interesting development confirming above advice. My local BMW dealer has just contacted me and first thing they mentioned was VT of my current car.