The carexpert page was written in 2014, then updated in 2017. As mentioned above people have been forced to pay for additional mileage usage. I think that is only fair to be honest. People clearly signed an agreement when taking out a PCP.ellingtj wrote: ↑Thu Jun 21, 2018 10:57 amThis I had not seen, but it does raise the question of how a strict legal interpretation would look in court?Uncle Tupelo wrote: ↑Wed Jun 20, 2018 9:16 pmThe Financial Ombudsman has already found against someone who tried to avoid over-mileage charges when VTing.ellingtj wrote: ↑Wed Jun 20, 2018 6:25 pm
4 is not strictly correct, over mileage charges are not a feature of voluntary termination. As long as the vehicle is in good condition then mileage charges are not enforceable. However, if you wish to use BMWFS again then a VT will make you look less attractive especially if they had to swallow an over mileage.
https://www.thecarexpert.co.uk/car-fina ... on-pcp-hp/
http://www.ombudsman-decisions.org.uk/v ... leID=65660
HP finance deals didn't have any stipulation on mileage and just instructions about the care of the vehicle. PCP deals the contract has similar stipulations, but also clearly states the mileage conditions.
Using VT I already think is a bit of a dodgy thing to do. It is a legal right, but seems a little wrong taking on a debt and trying to get out of it. It's for a little protection for those who fall on hard times, but it's just a clause used by most to try and leave behind debt when they are looking to change car.
I've seen advice on forums that when taking out a PCP to pick the lowest mileage option available. Their plan is to keep payments as low as possible and VT the car later. That's not using VT for what it was designed to be, that is just plain abuse.
It'll just make borrowing for cars more expensive for everyone else.