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VT of HP agreement with BMW Finance - What should I be aware of

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  • VT of HP agreement with BMW Finance - What should I be aware of

    Hello,

    I have confirmed the VT of my HP agreement on my BMW. I have also paid the termination payment of about a £1000. There are a few things I wanted to clarify and prepare for collection

    VT conditions clarifications:
    1. Excess mileage will be prorated on the date of collection. My annual contracted mileage is 8000, which means I should be at or less than 24000 as of 26th June 2018. My current mileage is 23956, so I hope I will be fine and I am not driving the car anymore
    2. The VT notice says that the vehicle will be inspected according to BVRLA Fair Wear & Tear standard. Does anyone know how this differs to other fair wear and tear standards? There are 4 minor scratches and 2 tiny windscreen chips in 3 years. Would these be considered to breach BVRLA standards?
    3. Below the above point, the VT notice says I may be charged for any items which fall outside of this standard. Does anyone know what this "standard" is?

    Re collection, I am still waiting for a call from BCA. I hope to receive this call next week. I will scan all the documents I have so far and save it for my records. I will take pictures of the car either the day before or the morning of the collection

    What should I look out for on the day of the inspection and collection?
    1. If my car meets fair wear and tear standards according to me, but if the inspection agent thinks otherwise, can I dispute it and refuse collection?
    2. If there is no disagreement on the day, should I add a note like "No further charges apply" before I sign? Alternately, if there is a disagreement between me and the inspection agent, should I say "Signed under Duress"?
    3. Anything else I should be aware of?

    R0b
    I would really appreciate any advice based on past experiences and expertise.
    Tags: None

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