Tony Posted June 10, 2019 Report Share Posted June 10, 2019 Good!! Got enough money to spend on mods and ripped jeans but not clever enough to read the small print. Finance Fail Quote Link to comment Share on other sites More sharing options...
Rich Posted June 10, 2019 Report Share Posted June 10, 2019 I don't see what the problem is. Providing he makes the repayments on time he should be able to do what he likes with the car. If he fails to make the repayments or pay the remaining balance once the finance ends they can still take the car off him. He also likely paid for the modifications with credit too. Quote Link to comment Share on other sites More sharing options...
Tony Posted June 10, 2019 Author Report Share Posted June 10, 2019 I think BMW are worried he's devalued the car and the repayments for the cars finance and seemingly modifications are out of his finance ability. Quote Link to comment Share on other sites More sharing options...
Viking Posted June 10, 2019 Report Share Posted June 10, 2019 Until the finance is cleared (including the final balon payment) then the car doesn't being to him, it still belongs to the finance company. Ultimately, it wasn't his car to modify. Quote Link to comment Share on other sites More sharing options...
Tony Posted June 10, 2019 Author Report Share Posted June 10, 2019 Exactly, so BMW are well within their rights assuming it was them who financed the car. Point of the topic is "read the small print". Quote Link to comment Share on other sites More sharing options...
adam_r Posted June 12, 2019 Report Share Posted June 12, 2019 The guy is a tool to think it's his car whilst only paying finance . Watching some of his other videos it seems he likes going in fast modified cars and tries to be a bit gangsta... Quote Link to comment Share on other sites More sharing options...
Steve-O Posted June 12, 2019 Report Share Posted June 12, 2019 I'd agree, this Melt is larging it with a car on finance (and i believe he was telling people he was paid up). He has no business modifying a car that doesn't belong to him, and was even more stupid to plaster it all over you tube! What is it with the 'yoof' these days trying to make out they are the bollocks, but when in actual fact they haven't got a pot to p**s in. Its all an act as illustrated here. Pathetic. Quote Link to comment Share on other sites More sharing options...
Tony Posted June 12, 2019 Author Report Share Posted June 12, 2019 My wife works in finance dealing with those who default..... It's a tender line between negotiating a payment plan with those who default or reclaim the property. It seems the last thing they want is the property back, so as a lender they do seem to favour the debtor. BMW's take on this i initially thought was harsh but on reflection i now actually agree with them. In the return of goods act under 1/3 a default could be sent and the property can be reclaimed but with losses. Over 1/3 a judge will/ could conclude on behalf of return of goods unless contested. Over 50% including interest there's an option to terminate the agreement and the loss is 100% to the debtor but there will be losses to the lender. Final payment or settlement in full is the only point the borrower owns the property. Quote Link to comment Share on other sites More sharing options...
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