A Youtuber based in the UK got a firsthand lesson in how not to brag about doing something prohibited to your BMW. YouTuber LivingLifeFast posted a video that explains how he lost the car. In the UK, the car financed through BMW is still owned by the company until full payment is made and with that comes certain restrictions.
One of them is keeping the car stock or as stock as possible. That’s not the case now since the owner of this M4 decided to raise up the power of his sports coupe to a whooping 700 horsepower. Clearly that could not have been achieved without heavy modding and tuning.
After closing the deal, he’d taken it down to Belgium to spice it up a bit, adding a hybrid turbo, methanol injection, an upgraded exhaust and more.
According to BMW, this is a breach of contract and they have given him a week to pay up or face having the car repossessed.
Ricky says BMW gave him two reasons for the ultimatum. One is that he’s “altered the vehicle without [its] consent” and the other has to do with the company’s doubts that he’ll be able to make the payments on the Personal Contract Purchase (PCP) plan.
Within the contract, the customer gives a deposit and multiple payments including a final instalment based on the value of the car as it exists at the time. If the buyer decides they don’t want the vehicle at that point, they’re free to return it without making the final payment. When cars are modified, however, their value diminishes, potentially leaving the brand with a car that’s worth less than it would be if it were unmodified.
“Based on these two breaches, BMW are demanding the full amount for this car by next week,” Ricky tells the camera in his BMW PSA. “If I don’t make the payment for this car by next week, they’re threatening to recover the vehicle and probably auction the car off and bill me for the remainder of what’s left of the debt.”
Lessons learned? Don’t breach a contract and if you do, don’t brag about it on Youtube.[Source: Driving.ca]