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Mini/BMW Financial Services - Mini VT

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  • Mini/BMW Financial Services - Mini VT

    Today we VT'd our Mini Countryman using the standard template provided by @R0b by both signed-for post and email - I'm hoping this will be a reasonably straightforward process as we are well within our pro-rated mileage allowance, well past 50% contribution on our PCP, there are no arrears on the account and the car is going in for a full valet tomorrow at which point I'll take lots of pictures!

    We've terminated immediately as of today, received an automated email reply from Mini Financial services, and therefore cancelled our Direct Debit too - as the automated email reply we took from other posts here to be sufficient acknowledgement of receipt of termination. The usual payment date of the Direct Debit is the 1st of the month, we viewed this as more than sufficient notice giving the immediate termination date of the 25th.

    We're VT'ing because the car is no longer suitable for us - the wife's increasing disability means she cannot now drive a manual car comfortably, so we are replacing the current manual Mini with an automatic VW. The car is in great shape and considerably under mileage allowance, though we have been mildly irritated by a small scratch on the rear bumper that we expect will cost us a few quid at collection time given Mini's love for the BVRLA regulations and standard remediation pricing of between £40-£110 + VAT :-(

    So this is simply a short note to say "thanks" to everyone involved here for running this great resource, and I dearly hope I don't need any further help, assistance or advice on this matter. However we would absolutely never have been brave enough to even start this process without the information and templates here.

    My wife thanks each and every one you in advance for giving her personal mobility back to her a clear 7 months earlier than we would otherwise have been able to do without VT'ing the current car.

    U.
    Last edited by Utumno; 25th August 2017, 13:47:PM.
    Tags: None

  • #2
    Re: Mini/BMW Financial Services - Mini VT

    The VT is currently going swimmingly, thanks entirely to @R0b's templates and the confidence they inspired in us to stand our ground. Mini Financial Services attempted to get us to sign to say we will pay for collection then backed down immediately once I quoted the letter template to them. Mini FS agree that there is no question of excess mileage (car has done 31,000 miles in 41 months, we contracted for 1000 miles a month, so we are well under the mileage allowance) and have said there will likely be an overpayment which they will settle back to us by cheque at the end of the process. I'm not expecting any actual payment, as it happens, as I'm sure they'll find a way to keep hold of that "overpayment" somehow ;-)

    The car is being inspected and collected by their agents (BCA) on 6 September only 7 working days after the VT, which I consider pretty good.

    Comment


    • #3
      Re: Mini/BMW Financial Services - Mini VT

      Glad to hear it, fortunately Mini don't sound as awkward as some other lenders i.e. Moneybarn, Startline, VWFS or MBFS.

      I would suggest that you re-read the VT checklist on the guide to get an idea of what you should do and be looking out for. I don't think I've updated it but you do not need to sign any document about the condition report though I would suggest you take a paper copy of it or a photo at least, just in case there are discrepancies between the report carried out and any future assessment of the vehicle's condition.

      Surprised that Mini have suggested that there has been an overpayment on the account, unless you terminated the agreement and they have taken a payment following the termination - you might want to double check that. Otherwise any payments over and above the 50% of the total amount payable are not recoverable.
      If you have a question about the voluntary termination process, please read this guide first, as it should have all the answers you need. Please do not hijack another person's thread as I will not respond to you
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      LEGAL DISCLAIMER
      Please be aware that this is a public forum and is therefore accessible to anyone. The content I post on this forum is not intended to be legal advice nor does it establish any client-lawyer type relationship between you and me. Therefore any use of my content is at your own risk and I cannot be held responsible in any way. It is always recommended that you seek independent legal advice.

      Comment


      • #4
        Re: Mini/BMW Financial Services - Mini VT

        Final update : we received the letter stating no further liability on the Mini this morning. The whole VT process took under 3 weeks to complete and in the end we didn't have to pay anything in damages as BMW/Mini Financial Services waived the (very minor) damage identified on the BVRLA inspection. To be clear, we have paid nothing extra, but in our case there were no excess miles on the clock.

        Many thanks [MENTION=71570]R0b[/MENTION] for the excellent template again - we would have been unaware of our statutory rights without this forum, and we wouldn't have had the confidence to proceed without the templates and knowledge gained from here.

        Best wishes!

        Comment

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