This topic contains 0 replies, has 1 voice, and was last updated by Leighton Porter 1 month ago.
19 June 2019 at 12:18 pm #170686
Hi, can someone please tell me how rejection of vehicle and negative equity from p/x works?
I have had problems throughout with vehicle and bad customer service etc, I escalated to finance company who have been reviewing the case for the past month and after speaking to them last week, they stated that if they were to agree with the rejection, the negative equity from BMW would have to be paid. Is this correct? My finance agreement does not mention part x or anything, it states cash price for goods (which adds up to the amount of new car + negative equity) then it just adds the interest payable over the term.
Also, under the section: TERMINATION
It states the amount payable to terminate contract is half, and the half amount is the half the total finance amount.
Old car £3199.44 negative equity
New car £15000
Total finance £18,199.44
Cost of goods £18,199.44
Hire Purchase charges £3263.76
Total amount £21,463.20
Termination your rights
Half the amount payable under agreement
that is £10,731.60
Can anyone help me with this?