I am in arrears with BMW Finance. They want to take the car which is fine but do I have any option to mitigate my losses?
The car is worth about £3-4k less than the settlement figure but it is on a PCP and is over the mileage allowance. They also want to charge me for collection and sales costs. I am quite far away from VT position.
Do I have any options at this stage or is it just a case of biting the bullet?
I am about to enter into a debt management plan with Step Change and I have another car so I do not want to carry on paying for this one anyway.
The car is worth about £3-4k less than the settlement figure but it is on a PCP and is over the mileage allowance. They also want to charge me for collection and sales costs. I am quite far away from VT position.
Do I have any options at this stage or is it just a case of biting the bullet?
I am about to enter into a debt management plan with Step Change and I have another car so I do not want to carry on paying for this one anyway.