k1 on finance, can i Revo?

[westoncraig]

I`ll have to check my agreement.

It is the 3 year, 0% finance deal they have been offering lately. So after 3 years i will have paid it off, so does the car not belong to me to modify?

As you can see below though, i haven't really changed anything major!

totally depends if its a hire purchase or a lease... youd need to check your docs to be 100%

 

[westoncraig]

ok just had a look on the SEAT website and theres 1.4 leons on HIRE PURCHASE, as aslong as you make all payments you will take title at the end of the lease... obviously i have not seen the contract so cant see if theres a final payment (admin fee or something) but i would presume there will be a final payment of some kind

 

[Petrol-Head-Pete]

I agree that after 3 years the GFV will be re-financed onto a standard hp lease so after them 3 years the car will be mine but that means i would have the same car financed for 6 years before i own it and can modify it.

 

[Bedlam]

Who is shown on the logbook as the registered keeper (i.e. owner) ?

 

[Invisible]

It's a grey area but check the 'words' on your contract.

If it states it then be careful

I know for a fact that mine has a specific clause in the finance agreement that states I can't do any 'engine' modifications to the vehicle (well I haven't read or found the clause but do recall when setting up the agreement this was made clear)

If you have a car on finace or under warranty it will always be a risk if you start modding.

My view would be, certainly for your 3-year term is to go with a revo or bluefin map with the switching unit and leave it at that till you own the car.

That is what my consideration will be but havent approached it yet myself as service, tax and a few other cosmetic things need attention on the car 1st

 

[Petrol-Head-Pete]

Sorry guys i just checked my agreement and its a lease purchase over 36 months with 3 options at the end

1. Sell the car

2. Part-exchange the car

3. Re-finance the car

I would say by that, that i do own the car and have full responsibility over it as there is no way the car will be given back at any time only part exchanged and any loss of value caused by moddifying will be down to me. Do you agree?

 

[bobphatboyphat]

To add my 10pence worth, would say that although your name is on the log book, you don't own the car, i have a 42 month PCP and from what i can remember from the small print it does state that the car can not be modified. if you do modify the car, seat can cancel the agreement, have a read of the below of a fellow members experience of modifying there Cupra and seat canceling the finance

http://www.seatcupra.net/forums/showthread.php?t=193416

 

[RobsCupra]

Until you have finished the agreement (ie paid in full what you borrwed against the car including the balloon payment at the end) you do not own the car.

Bluefin is a great option and costs £435 currently and you can upgrade the stages for free should you choose to do any further mods to the car.

 

[phil3012]

I've financed new cars various ways in the past.

The registered keeper on the log book is just that, it is not neccessarily the legal owner of the vehicle.

With many agreements you pay a fee at the end to transfer the legal ownership of the vehicle into your name.

You can think of PCP as renting something, although you can usually purchase the car outright at any time and I think you do have additional rights.

I know one guy on here heavily modded his Cupra and was issued an ultimatium to give the car back within 10 days as standard (removing the mods at his cost) or pay the outstanding finance on the car.

There was a long discussion on it at the time, including input from dealers and possibly SEAT I believe and it all boils down to it's not yours to modify.

 

[westoncraig]

some good feedback there great what an hour in the gym brings you back to

 

[SeanCorky]

My finance doesnt have payments at the end etc, just 36 months of a steady payment?

 

[Fl@pper]

My finance doesnt have payments at the end etc, just 36 months of a steady payment?

just 36 months of higher payments to go then

just to throw a spanner in the mix, is this finance as such actually related to the vehicle ? or to a loan for the money to pay for it.

reason being my mrs bought a new bed 2 years ago and went for the 0% option and when i looked at the paperwork it was all done through a different company as a loan and payments

 

[westoncraig]

look in the additional provisions part of the contract..you will see for certain if theres a final payment there

 

[phil3012]

My finance doesnt have payments at the end etc, just 36 months of a steady payment?

I'd check the small print that there isn't a hidden charge at the end. Sometimes it just something like £75 extra on the last payment as another admin fee.

My Astra had an arrangement fee added at the start and a final payment fee at the end. That was on straight HP not PCP.

 

[SeanCorky]

just 36 months of higher payments to go then

just to throw a spanner in the mix, is this finance as such actually related to the vehicle ? or to a loan for the money to pay for it.

reason being my mrs bought a new bed 2 years ago and went for the 0% option and when i looked at the paperwork it was all done through a different company as a loan and payments

I required something like 12500 credit at 0% after deposit, which divided into 36 made my monthly payments.

I`ll have to read when i get home!

 

[Gudgie]

I've financed new cars various ways in the past.

The registered keeper on the log book is just that, it is not neccessarily the legal owner of the vehicle.

With many agreements you pay a fee at the end to transfer the legal ownership of the vehicle into your name.

You can think of PCP as renting something, although you can usually purchase the car outright at any time and I think you do have additional rights.

I know one guy on here heavily modded his Cupra and was issued an ultimatium to give the car back within 10 days as standard (removing the mods at his cost) or pay the outstanding finance on the car.

There was a long discussion on it at the time, including input from dealers and possibly SEAT I believe and it all boils down to it's not yours to modify.

The clauses included in each agreement will differ depending on which comany it is that has provided the finance in the first instance. SEAT may have a clause that states no modifying during the term of the agreement. If this is the case then this would be the first agreement i have heard ofthat has this written into it.

just 36 months of higher payments to go then

just to throw a spanner in the mix, is this finance as such actually related to the vehicle ? or to a loan for the money to pay for it.

reason being my mrs bought a new bed 2 years ago and went for the 0% option and when i looked at the paperwork it was all done through a different company as a loan and payments

Careful with this type of agreement. It tends to be set up so that if you have not paid the full amount by a set date then you can often end up suffering a large amount of compound interest on the full amount from the very start of the agreement.

 

[illustrious]

I'm picking up my new Lumina Orange K1 up tommorrow - I asked if I can Revo / Bluefin (not decided yet) and the dealer said I could have it done - but they would "get someone in" to do it with them, under supervision. They have had their own Cupras chipped so already have someone they get in.
I've got it on PCP, where I pay monthly & either return it at the end or settle a balloon payment to keep it. They also said they'd lower it too if I wanted.

 

[m0rk]

I'm picking up my new Lumina Orange K1 up tommorrow - I asked if I can Revo / Bluefin (not decided yet) and the dealer said I could have it done - but they would "get someone in" to do it with them, under supervision. They have had their own Cupras chipped so already have someone they get in.
I've got it on PCP, where I pay monthly & either return it at the end or settle a balloon payment to keep it. They also said they'd lower it too if I wanted.

they're wrong then.... just because a salesman says so - doesn't mean that the finance company that owns your car won't savage you

 

[Al]

Worth looking at these threads from a lad who went down the same route....

This is what was added;
http://www.seatcupra.net/forums/showthread.php?t=192504

This is how well it went;
http://www.seatcupra.net/forums/showthread.php?t=202415

Then some problems;
http://www.seatcupra.net/forums/showthread.php?t=200849

And other problems along with info about issues down to the car being on a similae scheme to the one suggested by the OP
http://www.seatcupra.net/forums/showthread.php?t=193416

and in particular this
http://www.seatcupra.net/forums/showpost.php?p=2133732&postcount=50

Ok peeps, I have had a pretty **** day because of the car. I have calmed down a bit, so will post the results here.

But it's not good...

This morning, Seat UK formally confirmed that the car's warranty on the ECU and Engine is void. They are not prepared to investigate the matter any further, believeing the REVO code, and that alone is the cause of the ECU's inability to communicate with the rest of the car, and VAGCOM. Furthermore, they have cancelled the breakdown assistance for the vehicle too, as it has been substantially altered outside of the original spec. They said that any further breakdown on the car is highly unlikley going to be atributed to the OE hardware in the car, and is due to the engine running outside of the recommended spec.

The vehice is under a contracted finance agreement also, and they also believe I have broken the terms of that contract, and have demanded payment in full within 28 days for the outstanding balance, or the goods returned to them in original condition (fair wear and tear excluded). I have asked for written proof of this by Friday.

They have also cancelled and taken back the hire car.

The guys at VagTech were present when this was all being discussed with the suited chap from Seat who was there this afternoon, and explained to him how none of the cars electricts ect were touched, but the person from Seat wasn't bothered. While he was there, they built a test bench with the aid of Carl from REVO to see if ECU info can be pulled up from it when it is removed from the vehicle.

As he expected, when the ECU is taken out the car, it did function correctly. This would lead to a wireing fault, but he said it's a needle in a haystack situation. And they also confirmed that no wires were touched during the IC installation. Seat still refuse to believe this.

Despite the fact that there is no longer a warrenty on this 9 month old car, Seat have instructed VagTech to stop carrying out work on the ECU, as it's their property! A few choice words from myself and the guys at VagTech were exchanged, then the Seat person left.

The instruction was then given to strip ALL modifications from the vehicle. The IC has now been removed, and the Miltek is being done tomorrow. I'm going back on Saturday to remove the Forge DV/Spacer, Carbonio and they are doing the Fuel Pump.

The car is then being towed back to Seat in stock condition where they are going to carry out fault finding on the wireing, at my own expense. The car will then be sold from that dealer once it is fixed, on a sale or return basis that they have agreed to.

All the parts removed will be sold on here to any takers, and consist of:
Milltek 100 Cell Sports Cat w/3" downpipe
Milltek non-res exhaust from the cat back
Forge DV Spacer
Forge Pressure Related DV
Carbonio CAI and Pannel Filter
Forge Twin Intercooler (Almost new!) with all hoses and fittings

Didn't see it ending like this TBH, but if they want to get really crappy over the financing and playing the legal card, i'm more than happy to show them the middle finger and buy something else.

Thanks to everyone on here for being so positive though, and Seat or no Seat, i'll still frequent this site as it is excellent...

Be aware of this.

 

[jcp]

There are two issues, the warranty and the ownership of the car. On finance I would always assume that you cannot modify without consent. As to the warranty Seat call the shots and are often said to be very unsympathetic with modded cars. So you take a risk of a void warranty and a finance company which can insist on the finance being terminated- at your cost.
If a dealer will bless chipping-and I would expect them to insist on it being done by their contacts they may well choose to honour the warranty but if it ever gets to Seat I would expect trouble- so you are OK so long as issues are kept at dealer level but face an arguable problem if you end up with Seat technical involved. Your dealer may well come through.
Tell your insurers as otherwise you risk them standing aside and leaving you paying for an accident.