Xpower leased - final payout shortfall due to vib issue

[powerfulx]

With the probability that the vibration issue will probably never be fixed, the payout figure will leave a shortfall for us. Hopefully based the issue being MGs failure a new figure might be easier to negotiate. Im happy that i have it in writing from MG directly (not the dealer) that they will fix the issue under warranty. In Australia we are a bit luckier on that front as i understand MG didnt indicate publicly in other countries ?

 

[siteguru]

You must have a different definition to "leased" than we do in the UK? Over here a lease is merely a rental - you never own the vehicle.

Here the equivalent may be PCP - Personal Contract Plan - wherein you're "renting" the vehicle with an optional final payment (Minimum Guaranteed Future Value) to purchase it, or you can simply hand it back with nothing more to pay. (Or if the car's value is greater than the MGFV - which is rare - then you could sell the car, pay off the MGFV and pocket the balance).

 

[Chrisdriving]

Yes sounds like a PCP setup, but if it is a lease then you can normally buy the car from them in a round about way( via someone) so the price could still be negotiated.

 

[tsedge]

You can negotiate with a PCP too. They will most likely face disposing of the car at auction for a low value, so if you offer something more than the auction value but less than the MGFV, they may well take it.