Not happy at all, after I posted this I searched the internet and found many people with the same complaint with the E70 diesel, quoted economy is virtually identical to the quoted economy of the 730D but real world it seems 30%+ worse.
I will contact the dealer tomorrow and discuss my options, my HP agreement states:
Right of Withdrawal
You have the right to withdraw from this credit agreement under Section 66A
of the Consumer Credit Act 197 4 by giving us written or oral notice of
withdrawal before the end of the period of 14 calendar days beginning with
the day after the relevant day. If you sign this agreement at the dealership
which supplies the vehicle, the relevant day is the day on which you receive
a copy of the executed agreement from the dealership. In any other case, the
relevant day is the day on which you receive written notice from us that the
executed agreement is in identical terms to the copy of the unexecuted
agreement which has been given to you:
(a) You must give us your notice of withdrawal by post or delivery to us at
BMW Financial Services, Customer Accounts Department, Europa
House, Bartley Way, Hook, Hampshire RG27 9UF, or by email to us at
customer.accounts@bmwfin.com, or by fax to us to on 01256 749200 or
by phone to us on 0870 5050 198. You do not need to give us any
reason;
(b) If you withdraw from this agreement after the credit has been provided,
we will keep any advance payment you have paid and you must pay
£19,490.21 (the amount of credit) plus the interest at £2.6~er day
which has accrued from the date the credit was provided up to, and
including, the date you pay the amount of credit. You must pay these
sums to BMW Financial Services at the above address without undue
delay and no later than the end of the period of 30 calendar days
beginning with the day after the day on which your notice of withdrawal
was given. Please give your agreement number as the payment
reference. For the purpose of calculating the number of days' interest, if
paying by cheque sent by prepaid first class post or recorded delivery
you will be deemed to pay the credit on the second day (excluding
Sundays) after posting or, if paying by bank transfer, on the day your
payment leaves your account (in each case providing your payment
clears).
(c) We will remain the owner of the Vehicle until you pay us the credit and
interest specified above. If you do not pay us the credit and interest
within the 30 day period specified above, we will be entitled to recover
the Vehicle and sell it to someone else (and you will lose all rights in
relation to the Vehicle). We will deduct the sale proceeds we obtain for
the Vehicle (less our reasonable vehicle recovery and sale costs) from
the credit and interest and you must pay us any shortfall. If the sale
proceeds (less our reasonable costs of sale) exceed the cred it and
interest, we will pay the surplus to you. You must retain possession of
the vehicle, keep it insured and take reasonable care of it until you
become the owner or we recover it from you.
Early Repayment
You have the right to repay all or part of the credit early at any time:
(a) You must give us notice by writing to us at BMW Financial Services,
Customer Services Department, Europa House, Bartley Way, Hook,
Hampshire RG27 9UF, or email to us at
customer.services@bmwfs.co.uk, or fax to us to 0870 5050285 or by
telephone to us on 0870 5050 150;
(b) To repay all the credit early, you must pay all amounts payable by you to
us under this agreement, including the Purchase Fee, less any rebate of
charges allowable by law. You will then become the owner of the
Vehicle;
(c) To repay part of the credit early, you must pay some of the amount
payable by you to us under this agreement before the time fixed by this
agreement and before the end of the period of 28 days beginning with
the day after we receive notice under paragraph (a) above, or on or
before any later date specified in the notice. We shall reduce the total
amount payable by you under this agreement by the amount of your
early payment and any rebate allowable by law. If you have any arrears,
any payment you make will first be applied to those arrears;
Does this mean I can hand back within the 14 days (I only signed on Tuesday remotely, they emailed the agreement) and collected the car on Wednesday, as I am well within the 14 day cooling off can I hand the car back and withdraw from the finance with no penalty (will I get my deposit back?)
Thanks for all answers so far,
Andy