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BHFinance increased before delivery

Discussion in 'The UK and Ireland' started by Breakfast, Sep 20, 2019.

  1. Breakfast

    Breakfast Member

    Joined:
    Aug 13, 2019
    Messages:
    33
    Location:
    UK
    Has this happened to anyone else?

    I was content with my quote from Black Horse Finance, which I have had since the start (for a M3P). It’s now 6 days to go until my delivery appointment and I have been sent a new finance quote, out of the blue. No explanation. And, of course, it’s more expensive.

    I’d like them to tel me a reason for this and I’d ideally like for them not to increase my costs.
     
  2. TezzyMod3

    TezzyMod3 Member

    Joined:
    May 30, 2019
    Messages:
    215
    Location:
    London
    How much more expensive? I believe the residuals have gone down a bit.

    I had to reapply and it came up by £7
     
  3. AndrewR

    AndrewR Member

    Joined:
    Aug 31, 2019
    Messages:
    110
    Location:
    Cambridgeshire, UK
    Is it £3500 more expensive by any chance? I had the exact same, called them and it's because the OTR price needs to reflect the full price of the vehicle excluding government grant. The monthlies and GFV were the same, just the OTR price had changed.

    Have you called BH / Tesla to ask?
     
  4. Breakfast

    Breakfast Member

    Joined:
    Aug 13, 2019
    Messages:
    33
    Location:
    UK
    Yes it’s £3,500 more. My brain is failing to compute this.
    My monthlies are also £31 higher and the final payment has also changed over my original quote.

    How do I call BHF - I can’t see a number for them?
     
  5. AndrewR

    AndrewR Member

    Joined:
    Aug 31, 2019
    Messages:
    110
    Location:
    Cambridgeshire, UK
    I called the number on their website 0344 824 8888

    They confirmed that the monthlies and GFV were the same as per my original application, and the e-mail I received was incorrect. Apparently the problem is due to the system Tesla use called CodeWeavers not being compatible with Black Horses system meaning you get conflicting data.

    I would recommend calling Tesla and querying it, they have access to all your finance info so can tell you all the details.
     
    • Like x 1
  6. Breakfast

    Breakfast Member

    Joined:
    Aug 13, 2019
    Messages:
    33
    Location:
    UK
    Thanks, you are a gent.
     
  7. AndrewR

    AndrewR Member

    Joined:
    Aug 31, 2019
    Messages:
    110
    Location:
    Cambridgeshire, UK
    NP, I had a panic when I saw it come through as my monthly payments went up by ~£150. The bloke at BH was fantastic at explaining it all after we figured out what had happened. The way it SHOULD work is:

    BH PCP quote shows total OTR price, excluding government grant
    Your deposit = whatever you agreed
    Additional deposit = £3500 government grant

    However, what Tesla has been doing is putting the OTR price as the car price including the government grant which breaks the BH system.
     
    • Like x 1
  8. Coooler

    Coooler Member

    Joined:
    Sep 20, 2019
    Messages:
    18
    Location:
    Manchester, UK
    Thanks for this, it's really helpful.

    I went into Tesla Stockport after placing my order as I wanted to see what the payments and GFV would be to extend the PCP period from 2yr to 3yr - the staff there couldn't reconcile the £150ish difference in the monthly payments as shown on my BH CodeWeavers confirmation email, and the PCP payment estimator on the Tesla website - would make sense that it's for the reason you've explained above.
     

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