Discussion
Wondered if anyone has recent experience of doing a VT on a car?
I've now (EDIT - phone had this saying not!!) paid 50% and owing to a number of changes in circumstances the car and finance no longer fit my needs, hence...
I understand things from the finance side, as I'm in the financial services industry but more questions on the practical side...
- How long from your letter was it til the car physically went back?
-Did you continue to use the car between the letter and hand-back?
- Were you able to take it somewhere or did they insist on collecting?
- Was there any sort of inspection at handover and any paperwork handed over (including filling the V5 slip)
- How long before the bill came for any damage, extra miles etc (although technically there shouldn't be....)
Thanks PH'ers.
I've now (EDIT - phone had this saying not!!) paid 50% and owing to a number of changes in circumstances the car and finance no longer fit my needs, hence...
I understand things from the finance side, as I'm in the financial services industry but more questions on the practical side...
- How long from your letter was it til the car physically went back?
-Did you continue to use the car between the letter and hand-back?
- Were you able to take it somewhere or did they insist on collecting?
- Was there any sort of inspection at handover and any paperwork handed over (including filling the V5 slip)
- How long before the bill came for any damage, extra miles etc (although technically there shouldn't be....)
Thanks PH'ers.
Edited by MondeoMan1981 on Thursday 31st January 09:18
- How long from your letter was it til the car physically went back?
a matter of days
- Did you continue to use the car between the letter and hand-back?
yes
- Were you able to take it somewhere or did they insist on collecting?
collected, but i would prefer this so it's not sat in a car park picking up potential damage prior to inspection
- Was there any sort of inspection at handover and any paperwork handed over (including filling the V5 slip)
posted the relevant v5 section off transferring it back to BMW finance, standard inspection at handover and the advice is not to sign anything
- How long before the bill came for any damage, extra miles etc (although technically there shouldn't be....)
mine was pretty much perfect, couple of minor stone chips etc on the inspection (that I disputed/didn't sign for) but about a week later got a letter saying some damage noted but no charge.
a matter of days
- Did you continue to use the car between the letter and hand-back?
yes
- Were you able to take it somewhere or did they insist on collecting?
collected, but i would prefer this so it's not sat in a car park picking up potential damage prior to inspection
- Was there any sort of inspection at handover and any paperwork handed over (including filling the V5 slip)
posted the relevant v5 section off transferring it back to BMW finance, standard inspection at handover and the advice is not to sign anything
- How long before the bill came for any damage, extra miles etc (although technically there shouldn't be....)
mine was pretty much perfect, couple of minor stone chips etc on the inspection (that I disputed/didn't sign for) but about a week later got a letter saying some damage noted but no charge.
- How long from your letter was it til the car physically went back?
About 2 weeks but I dragged it out a bit as I was waiting for my new car. The car went back Friday, I collected the new car Sat
-Did you continue to use the car between the letter and hand-back?
Yes - ultimately you will pay any excess mileage and for any damage incurred during the period of VT and collection
- Were you able to take it somewhere or did they insist on collecting?
They collected from my home address but will collect from anywhere I think - you or a suitable adult need to be there
- Was there any sort of inspection at handover and any paperwork handed over (including filling the V5 slip)
Yes - full and thorough inspection - you will have to sign to say you agree or disagree with their findings. I sent V5 back to BMW when I agreed to VT it
- How long before the bill came for any damage, extra miles etc (although technically there shouldn't be....)
About a month for me. They flagged up a chipped windscreen which they stated would be £202 to replace. On contacting BMW Finance they actually repaired it for £30. I get the feeling if I hadn't queried it and just paid the amount they would have said nothing. It also took them ages to send a replacement invoice - which I had to chase
About 2 weeks but I dragged it out a bit as I was waiting for my new car. The car went back Friday, I collected the new car Sat
-Did you continue to use the car between the letter and hand-back?
Yes - ultimately you will pay any excess mileage and for any damage incurred during the period of VT and collection
- Were you able to take it somewhere or did they insist on collecting?
They collected from my home address but will collect from anywhere I think - you or a suitable adult need to be there
- Was there any sort of inspection at handover and any paperwork handed over (including filling the V5 slip)
Yes - full and thorough inspection - you will have to sign to say you agree or disagree with their findings. I sent V5 back to BMW when I agreed to VT it
- How long before the bill came for any damage, extra miles etc (although technically there shouldn't be....)
About a month for me. They flagged up a chipped windscreen which they stated would be £202 to replace. On contacting BMW Finance they actually repaired it for £30. I get the feeling if I hadn't queried it and just paid the amount they would have said nothing. It also took them ages to send a replacement invoice - which I had to chase
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