Audi, Mercedes, Porsche, BMW Forum

Welcome to Deutschespeed.com the newly launched community for German Performance car lovers. The site is in it's launch phase at the moment and so content and membership is small (but growing). Soon we'll have competitions and much more. If you'd like to be apart of what's going on, sign up and join in!

Finance company have lost an M4

moonstone

Tyre Kicker
Posts
3,162
Likes
1,678
Location
Lanarkshire
Drives
Audi R8 V10+ • Taycan GTS
So here’s an interesting story…

One of my neighbours bought a new M4 about 3 years ago. Lovely guy and a fellow car enthusiast. He had issues with it from the get go. Namely an issue with the drivers seat. Dealer had it back a number of times and they couldn’t fix it. So he decided to reject the car. This was after about a year of ownership.

BMW Finance rejected his rejection on a number of spurious counts and so he took his case to the financial ombudsman, who upheld his complaint.

During all this time that it had been back at the dealer for extensive periods of time, they gave him an X4M, which is really liked. I have to say in the metal it was a much more handsome thing than the magazine photos portray and he was seriously thinking about doing a deal to swap the M4.

Anyway, after his rejection was upheld, BMW Finance closed his agreement and confirmed in writing that the agreement was finished and the car was no longer his responsibility (and that they would arrange for it to be collected).

He then bought an X3M (preferring it over the X4) and patiently awaited it to be collected by BCA or whatever agent BMW Finance were using.

Fast forward to today - TWO YEARS LATER - the car is still parked on his drive. Multiple calls to BMWF have only yielded confused promises to “look into it and get back to him” but nothing has ever happened

As it was a PCP agreement (rather than a lease) he is the registered owner and keeper.

He’s at the point where he’s going to take legal advice. The ironic thing is that dealers last attempt to fix the problem with the seat actually worked, but by then it was too late and he’s had one of the last F82s sitting rotteng on his drive ever since! Think how much that has cost them in depreciation!
 

saltyamigo

Tyre Kicker
Posts
24
Likes
16
Drives
S Box.
Tell them he'll keep it and generously write off their bill for the parking fees 😉
 

saltyamigo

Tyre Kicker
Posts
24
Likes
16
Drives
S Box.
I doubt it has depreciated that much over the last two years the way the car market has been especially as no miles have been added, although it probably hasn't done the battery or brakes much good. Most dealers were desperate for stock at times and would have got a good price for it.
 

moonstone

Tyre Kicker
Posts
3,162
Likes
1,678
Location
Lanarkshire
Drives
Audi R8 V10+ • Taycan GTS
I doubt it has depreciated that much over the last two years the way the car market has been especially as no miles have been added, although it probably hasn't done the battery or brakes much good. Most dealers were desperate for stock at times and would have got a good price for it.

It's two years worth of depreciation from brand new. Look at the difference between a 1 year old M4 and a 3 year old one. This is the period where you take the biggest hit. Battery is knackered. It's locked out due to the voltage drop (Lithium Ion) and he'll need to climb into the put to get to it.

Situation is just bizarre. Never heard the likes of it before.
 

saltyamigo

Tyre Kicker
Posts
24
Likes
16
Drives
S Box.
Yes, it's very strange especially considering the value of the car. I just sold my car to webuyanycar yesterday, in October 2020 at 6 months old they valued it at £42,000 got £49500 for it almost 2 years later with over 10K miles added. Would be interesting to see what a 2019 M4 was selling for in 2020 compared to now.
 

moonstone

Tyre Kicker
Posts
3,162
Likes
1,678
Location
Lanarkshire
Drives
Audi R8 V10+ • Taycan GTS
Yes, it's very strange especially considering the value of the car. I just sold my car to webuyanycar yesterday, in October 2020 at 6 months old they valued it at £42,000 got £49500 for it almost 2 years later with over 10K miles added. Would be interesting to see what a 2019 M4 was selling for in 2020 compared to now.

That's bananas!
 
Top