85 year old and PCP lease
Discussion
Hi, 1st post and hope i got right forum 
Last month my father passed away, aged 87.
So to start the story he PX his 3 y/old Lexus CT200h, which he paid cash for 2nd hand a year old, for a brand new CT200h, on a PCP lease of 3 years (ending next march) and for the last 8 months before he passed away he didn't drive it, just my mum who is 75. And is a named driver on his insurance, (more help needed later).
They are not married (divorced 20 years ago) and mum hates the car.
Lexus finance want £12k for settlement, we have agreed a price with bestcarbuyers that we are happy with, and clears the settlement with a few £££ for mum. But I phoned the dealer, on advice of finance company, this week to see if they would buy the car back.. offered us £8.5K !!! told me that they're not fetching any value now.. yet the same dealer ship was selling 2 similar models with more mileage for £17K!!!
Also the dealership said any repairs or bodywork must be done by an Lexus approved place or themselves (IE saying new bumpers for the scratched, scuffed bumpers, and a new alloy wheel for kerbed wheel)
Now a few questions,
Should the Lexus dealership have sold a car on PCP to an 85 Y/old man? and for the last 18 months we think he had dementia.
Do we (the estate/family) have any recourse with Lexus or the dealership for selling PCP to my dad?
Any way my mum can get NCB? Lexus insurance said they would, but a years cover with them, with full NCB is about £300 more than other sites via confused etc, with no NCB. Thinking maybe Adrian Flux would be helpful.
Last month my father passed away, aged 87.
So to start the story he PX his 3 y/old Lexus CT200h, which he paid cash for 2nd hand a year old, for a brand new CT200h, on a PCP lease of 3 years (ending next march) and for the last 8 months before he passed away he didn't drive it, just my mum who is 75. And is a named driver on his insurance, (more help needed later).
They are not married (divorced 20 years ago) and mum hates the car.
Lexus finance want £12k for settlement, we have agreed a price with bestcarbuyers that we are happy with, and clears the settlement with a few £££ for mum. But I phoned the dealer, on advice of finance company, this week to see if they would buy the car back.. offered us £8.5K !!! told me that they're not fetching any value now.. yet the same dealer ship was selling 2 similar models with more mileage for £17K!!!
Also the dealership said any repairs or bodywork must be done by an Lexus approved place or themselves (IE saying new bumpers for the scratched, scuffed bumpers, and a new alloy wheel for kerbed wheel)
Now a few questions,
Should the Lexus dealership have sold a car on PCP to an 85 Y/old man? and for the last 18 months we think he had dementia.
Do we (the estate/family) have any recourse with Lexus or the dealership for selling PCP to my dad?
Any way my mum can get NCB? Lexus insurance said they would, but a years cover with them, with full NCB is about £300 more than other sites via confused etc, with no NCB. Thinking maybe Adrian Flux would be helpful.
Sorry to hear about your dad
There are a number of conflicting issues here.
Lease is a pure rental agreement
PCP is something different and goes with your use of "GFV"
It isnt clear from your post if the deal ends March 2020 or 2021
If there are really just a few payments left then Id just roll with it and cough up
By all means use his dementia diagnosis as leverage but take a look in the mirror before you do so and ask yourself why you were still happy for him to drive if you knew about it
Cheers, and good luck
Final payment ends in march 2020 with a final sum of £11k. We didn't know he took out a PCP until early this year when bailiffs arrived asking for money as DD was cancelled or payments missed. We thought he paid cash for it. Was a shock to my mum. Tow truck outside house. Ready to take car away.
There is not much left in the estate. No property.
But at least no negative equity in car.
So hopefully getting small city car for mum. c1 108 Aygo sort of car. Preferably auto.
She needs her independence whilst she still able
There is not much left in the estate. No property.
But at least no negative equity in car.
So hopefully getting small city car for mum. c1 108 Aygo sort of car. Preferably auto.
She needs her independence whilst she still able
Sorry to hear your news.
If you have a buyer who will take the car and give you a price which clears off all the money outstanding on the car and leaves a little left for your mum then I would go with that and then move on.
You could try and fight the lease company over the car but to what end? Likely the best you would achieve is them taking the car and writing off any outstanding money. This would leave nothing for your mum and would be a stressful route to take.
If you have a buyer who will take the car and give you a price which clears off all the money outstanding on the car and leaves a little left for your mum then I would go with that and then move on.
You could try and fight the lease company over the car but to what end? Likely the best you would achieve is them taking the car and writing off any outstanding money. This would leave nothing for your mum and would be a stressful route to take.
andy2912 said:
Lexus finance want £12k for settlement, we have agreed a price with bestcarbuyers that we are happy with, and clears the settlement with a few £££ for mum.
Just do this - unless I'm missing something, most of the rest of your post seems redundant.On the NCB, try LV= Of all insurers I've used, they've been the most sensible, although I think over the last few years their service may have declined to match their competitors.
Sheepshanks said:
Just do this - unless I'm missing something, most of the rest of your post seems redundant.
On the NCB, try LV= Of all insurers I've used, they've been the most sensible, although I think over the last few years their service may have declined to match their competitors.
The service has declined as Rowney sold off the general insurance side to Allianz.On the NCB, try LV= Of all insurers I've used, they've been the most sensible, although I think over the last few years their service may have declined to match their competitors.
Dont like rolls said:
Dr Jekyll said:
HTP99 said:
I'm struggling with what the issue is with an 85yo having a pcp?
+1There's a issue around why family members where letting someone with suspected dementia make large purchases without stepping in (my own parents 73/82, buy nothing over £500 without running it past me.....to make sure it's not cheaper on the net if nothing else) but lets assume he just wasn't being monitored that closely for whatever reason.
Op.
With a PCP you can hand the car at the end of the term and walk away, subject to any charges for damage to the car itself.
You can also sever the contract once you have paid 50% of the full invoice value of the car, including interest. That cutover period will depend on when the payments stopped.
With a PCP you can hand the car at the end of the term and walk away, subject to any charges for damage to the car itself.
You can also sever the contract once you have paid 50% of the full invoice value of the car, including interest. That cutover period will depend on when the payments stopped.
Sheepshanks said:
andy2912 said:
Lexus finance want £12k for settlement, we have agreed a price with bestcarbuyers that we are happy with, and clears the settlement with a few £££ for mum.
Just do this - unless I'm missing something, most of the rest of your post seems redundant.On the NCB, try LV= Of all insurers I've used, they've been the most sensible, although I think over the last few years their service may have declined to match their competitors.
HTP99 said:
Dont like rolls said:
Dr Jekyll said:
HTP99 said:
I'm struggling with what the issue is with an 85yo having a pcp?
+1From age 80, any client purchasing a regulated financial product is classified as being vulnerable and subject to additional protections. I would need to take extra steps to ensure suitability if advising on a £20k investment. A PCP contract will also be regulated by the FCA so presumably also subject to additional protections? I would be keen to see the paperwork.
martinbiz said:
I would be very wary of the prices given by online buyers until they have viewed the car, they then normally try and knock it by 20%. I had this expereince with the most well known of them a couple of years ago, tried to deduct a grand for a tiny car park door ding and a 2 inch wheel rim scrape, probably £150 to fix max, on a 3 year old car that was otherwise immaculate. Told the inspector to do one and thanks for wasting an hour of my life
I've never heard of the company the OP mentioned. You may well be right, but it seems they come and collect the car, so it wouldn't be in their interests to argue to try and knock a big chunk off on your doorstep. They may well under-quote to prevent that happening too much, so OP might do better at WBAC etc.Tiggsy said:
There's a issue around why family members where letting someone with suspected dementia make large purchases without stepping in (my own parents 73/82, buy nothing over £500 without running it past me.....to make sure it's not cheaper on the net if nothing else) but lets assume he just wasn't being monitored that closely for whatever reason.
I find this post a bit annoying,TBH.You are lucky with your parents, then. Perhaps the OP’s father, like mine is just an independent, stubborn old bugger!
My father, 89, was struggling with the gears on his car, so thought he would go and get himself an auto. No mention of it to any of the family. He just went off to the dealer last year and bought a new Aygo.
It turned out that the dealer had also sold him a service plan and GAP insurance which we were not aware of until I took it in for a service for him.
I don’t believe car dealers have any morals at all.
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