Unfair PCP & HP deals - £1000 compensation


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Well-known member
S1000RR Supporter
Jan 17, 2017
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Just spotted this on MoneysavingExpert forum.

Apparently many of these deals had hidden 'optional' commission to those selling the deals.
If this applies to your specific deal then it may be possible to claim £1000 compensation. MoneysavingExpert explain how to do this without involving any claims companies who take a chunk of the compensation.

This is interesting. I have always thought that BMW interest rates were expensive, this might explain why... Even so, I've bought a few bikes via BMWFS in this period. However, when I bought a BMW car in 2018 I distinctly remember the sales manager being very disappointed when he learned I was not using BMWFS for the car, because of the difference in monthly cost (because I got something like 4/5% elsewhere, when they were charging 8/9/10% APR).

When I told him how much cheaper the interest rate I'd got elsewhere was, he said that the FS rate was 'a starting point' (or words to that effect), and they could have 'done something about that'... which sounds like what MSE are talking about. In my experience there has always been a bit of give and take on the purchase price/accessories package, but I never thought to question/haggle the finance rate - I just learned, slowly, not to take it if I could avoid it..
BMW have taught us all to ignore their FS deal and distrust the offering. You reap what you sow.
I do wonder how much the dealers make out a sale. Not nearly as much as we think, I’ll wager. Hence the incentive to sell overpriced finance and ‘extras’.
I'm not sure I'll get £1,000 with my claim on BMWFS. When I bought my K46 from Vines, Guildford, I got 0% finance over two years 50% deposit and £1 per month PCP payment for 24 months and I paid off the balloon at the end. I thought that finance deal was as good as a discount as I tried to haggle and the only thing I got was the pillion seat replacement thrown in.
In September 2022 I took some finance purely to get the contribution from BMW. I paid it off before the first payment was due I think. Not sure if I'd be entitled to any compo?

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