[MarkG_M5Comp]

I've been talking to my dealer about the next car and potential trade in versus voluntary termination, I'm 10k over my mileage at 27 months into my agreement....

So, trade in prices for F30s have bombed over the last year (he showed me their graph!), value in my £50k Sept 2013 car is £18-19k with £27k outstanding finance. VT it is then!

So I called BMW FS to confirm VT details, they duly advised 33.5 months which is just what I calculated. The process is this; fill in a form and return, once received I'll get a call from BCA (British Car Auctions) who will send two guys; one to drive it away and one to evaluate condition in line with industry standards. The car will then be driven directly to the auction (5 minutes from my house!). That's it, never goes back to BMW!

The next bit stunned me...

I asked for a price to increase the mileage limit on my wife's 8k p/a agreement....

No cost!

Excuse me?

No cost sir, we do it as a concessionary increase.... (they have the right to withdraw at any time).

Ok, so I then ask them to increase my 20k p/a to 24k p/a... Ok, no problem, form is in the post.

Doesn't affect VT or return charge or anything, literally FOC.

So, I ask, if I wanted to change the 8k p/a to 20k p/a on the other car? Yes, we can do that sir....

What the hell? Free money???

This has just saved me ~£800 mileage fees!

[Tengocity]

I am going to be at 60k by the end of the month so 10k over where I should be at 2 years (100k/4 years), so that's very interesting indeed.
So if I understand you correctly we can phone up BMW FS and change my agreement to 30k per year?

[MarkG_M5Comp]

Originally Posted by Tengocity

I am going to be at 60k by the end of the month so 10k over where I should be at 2 years (100k/4 years), so that's very interesting indeed.
So if I understand you correctly we can phone up BMW FS and change my agreement to 30k per year?

Yup, seems incredible doesn't it.

I was told the maximum they will allow is 150k over the contract term - just give them a call on 0370 505 0150 to discuss.

Apparently they've only offered it since March so it's a new thing, personally I think it's because they moved into my neighbourhood this year and therefore become much, much nice people.

It could be that their profits are too high!

[teaston]

What the hell?!

If this is right i'm going to change the deal on my new car to 8k pa and save about £60pm!

[Martan]

I'm currently sitting at 26k after 15 months with a 8k PA agreement looks like I'm doing the same, phoning up and increasing the mileage!? Or just VT it and not worry about the excess mileage, as has been discussed that they (BMW) can't force you to pay it anyway .

[So, trade in prices for F30s have bombed over the last year (he showed me their graph!), value in my £50k Sept 2013 car is £18-19k with £27k outstanding finance. VT it is then!]

As above the value v finance is totally crap. 19-20k trade in v 30k finance who says BMW hold their value, I'm probably going to be no bettter off in a years time?
And with the monthlies, I'm seriously considering buying a cheap runaround every year and being so out of pocket

[Mark1966]

I have my doubts, I think someone has cocked up.

[dubdemand]

Very interested in this as I was planning to contact Bmw finance to increase my mileage.

I think I've understood most of this thread but can someone please tell me what VT stands for?

[SaintMac]

Just phoned them and yes it is free. What they told me - someone called Donald - is that bmw currently don't have the ability to increase monthly payments and as mark said is currently a concession. He did say they could withdraw this at any time and then you might be liable for increased monthly fees in the future?
He did also advise me increasing the mileage would impact the cars future value

Just saved myself about £500, when I am looking to vt around March time

[teaston]

This is incredible!

[MarkG_M5Comp]

The only thing I can say is...

Happy F**king Christmas Guys!!!

May hay while the sun shines - I can't possible see how this will last...

[Tengocity]

Originally Posted by MarkG335

The only thing I can say is...

Happy F**king Christmas Guys!!!

May hay while the sun shines - I can't possible see how this will last...

Indeed. Will be on the phone to them shortly myself!

[Wills2]

So let me get this right.

1. You can phone them up and increase your annual mileage.....for no additional cost?
2. When you come to the end of the term, your GFV as per your original agreement is still valid?

If so I'm calling them!

[teaston]

Originally Posted by Wills2

So let me get this right.

1. You can phone them up and increase your annual mileage.....for no additional cost?
2. When you come to the end of the term, your GFV as per your original agreement is still valid?

If so I'm calling them!

SaintMac said they told him it will affect the GFV, so you don't pay extra per month, you don't pay excess mileage charge, and you can buy the car cheaper at the end! It's a triple win situation!

[Wills2]

Originally Posted by teaston

SaintMac said they told him it will affect the GFV, so you don't pay extra per month, you don't pay excess mileage charge, and you can buy the car cheaper at the end! It's a triple win situation!

[DazC]

This doesnt seem right.

If so im taking an M4 on 8k pa and upping to 20k!

[teaston]

Originally Posted by DazC

This doesnt seem right.

If so im taking an M4 on 8k pa and upping to 20k!

I might get an M3 on 1k pa!

[Tengocity]

Ok, so I've just changed mine from 4 years/100k to 4 years/120k

Only helps if we intend to hand the car back at 48 months though, and doesn't fundamentally magic something out of nothing. Our plan is to keep the car longer anyway, so not sure it will help, but seems daft not to do should circumstances change.

[73henny]

No concern over VT and being less likely to be accepted in the future?;

http://www.thecarexpert.co.uk/car-fi...nation-pcp-hp/

[DazC]

Originally Posted by 73henny

No concern over VT and being less likely to be accepted in the future?;

http://www.thecarexpert.co.uk/car-fi...nation-pcp-hp/

Many have VT'd and got a new car from BMW finance immediately after.

[teaston]

Originally Posted by 73henny

No concern over VT and being less likely to be accepted in the future?;

http://www.thecarexpert.co.uk/car-fi...nation-pcp-hp/

In there it says:

"You cannot be billed for excess mileage, although you can be sure the finance company will try to charge you for it."

So is this extra mileage allowance they're giving out pointless, as they can't charge you for excess mileage if you VT anyway?? :

[Kal101]

Kind of gob smacked by this so just to re- iterate

Increase the included mileage at no final cost

Increase the mileage and there's no additional monthlies to pay

GFV will drop so it will be cheaper if you want to keep the car - assuming you advise them of the higher mileage on vehicle at the end of term and that you have really ( cough) done the miles

If you hand back however the lower GFV might / will bite you in the butt ???

[Tengocity]

Originally Posted by Kal001

Kind of gob smacked by this so just to re- iterate

Increase the included mileage at no final cost

Increase the mileage and there's no additional monthlies to pay

GFV will drop so it will be cheaper if you want to keep the car - assuming you advise them of the higher mileage on vehicle at the end of term and that you have really ( cough) done the miles

If you hand back however the lower GFV might / will bite you in the butt ???

Basically if you're just handing back and over mileage then it's great, but if you were likely to trade in at any time then it doesn't help in the slightest.