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2010 2011 BMW 5 Series Forum F10 BMW 5-Series (F10) Forums General 5-Series Sedan and Wagon (F10 / F11) Forum Official owner of returned PCP Vehicle
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      01-01-2017, 11:00 AM   #1
babaikram
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Official owner of returned PCP Vehicle

I am in the process of wanting to change PRE LCI F10 to used LCI F10. I intend to buy approved used BMW from a franchised dealer. For personal reason I would like to know who is the official owner of approved used vehicle on dealers' forecourts. Is it dealers or BMW that is the official owner of the approved used vehicles?
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      01-01-2017, 11:25 AM   #2
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Quote:
Originally Posted by babaikram View Post
I am in the process of wanting to change PRE LCI F10 to used LCI F10. I intend to buy approved used BMW from a franchised dealer. For personal reason I would like to know who is the official owner of approved used vehicle on dealers' forecourts. Is it dealers or BMW that is the official owner of the approved used vehicles?
I'm not sure all cars advertised on a dealer's forecourt (UK) are necessarily owned by the dealer. Whether the physical presence of a car makes a difference, I don't know.

My car is an example of being advertised by two dealers, at different times. I bought it from a third dealer, advertising the car. The first two dealers never actually had the car on their sites, it was still at BMW HQ and owned by BMW. The third dealer bought it from BMW and I did the deal to buy it, while still to be transported from BMW, before it even got to the dealer's forecourt.
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      01-01-2017, 12:10 PM   #3
babaikram
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So when a formerly PCP(ied) BMW is returned, it belongs to BMW rather than the dealer?
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      01-01-2017, 12:46 PM   #4
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Or is it only those that are advertised on approved used website owned by BMW rather than the dealer ?
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      01-01-2017, 03:00 PM   #5
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If your in the UK...Walk straight past approved used and find one which is only just under warranty and has a full service history. The premium you save you can put toward an extended warranty.

'approved used' is a complete and utter joke.

I bought a 2014/63 in Feb 16 from a car supermarket, had zero issues, put it through sytner with a health check and full service.

My brother bought an approved used 2015/64 6 weeks ago and it's been in for stupid things . Damage on seat, damage on boot carpet , broken switches - when it was booked in for 6 days to have stuff done to it, it had a 'quality enhancement' pending - smthng which should have been done prior to it being advertised and would've thought it would be picked up on the 'bazillion point check'

My advice - walk right past approved used, find a busy car supermarket and look for a vehicle that has been owned by alphabet and not been sitting on the forecourt long.
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      01-01-2017, 04:26 PM   #6
babaikram
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Thanks for your reply. The question still remains whether approved used cars are officially owned by BMW or the dealer? Is there anybody that could give a definitive answer?
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      01-01-2017, 04:36 PM   #7
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Quote:
Originally Posted by babaikram View Post
Thanks for your reply. The question still remains whether approved used cars are officially owned by BMW or the dealer? Is there anybody that could give a definitive answer?
I'm sensing you have a specific reason to 'challenge' a dealer on who owns (or owned) a certain car?

May be worth putting the question in the UK section of the forum.

I'm not sure there is a specific answer. Possibly it is a "depends" answer. May be stages (time) in ownership transactions as well. Clearing from BMW finance for/to dealer ownership, cars moved about by BMW, trade ins, PCP returns, etc.
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      01-01-2017, 04:41 PM   #8
babaikram
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How do I move it to the UK section of the forum. Re ask the question there?
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      01-01-2017, 05:22 PM   #9
babaikram
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I have asked in the UK forum
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      01-01-2017, 08:19 PM   #10
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Approved used are pre-owned by anyone and everyone.

A lot of BMW finance/ex lease/ex PCP/ex motability vehicles get approved for 'approved used' and the criteria is pretty basic to my understanding - car has to have below a certain mileage and full service, with only one owner. That's it.

Whilst the cars are on the forecourt, the vehicle is 'in the trade' and it is the franchising dealership and NOT BMW UK that are in possession of the car - it's Listers ltd / sytner ltd etc etc.

Buy from a reputable dealer and/or be thorough in checking the car over.
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      01-05-2017, 05:25 PM   #11
babaikram
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Thanks all. This is the answer from Honestjohn

My question:
s the dealer or the motor company (e.g. BMW conglomerate) that is the owner of retuned formerly PCP(ied) vehicles whilst they are waiting to be sold to a second owner?

HonestJohn Answer:

The finance house that financed it owns it. That's where it gets complicated because the finance house if often wholly owned by the manufacturer.
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