Ponsonby Posted June 6, 2019 Share Posted June 6, 2019 3 minutes ago, coldel said: I get that things have moved on - I am still yet to buy a car with any sort of finance, I always pay for them outright. I only take finance if it is interest free or very low interest and a significant deposit contribution. I then leave my cash invested earning interest. Quote Link to comment Share on other sites More sharing options...
coldel Posted June 6, 2019 Share Posted June 6, 2019 1 minute ago, Ponsonby said: I only take finance if it is interest free or very low interest and a significant deposit contribution. I then leave my cash invested earning interest. Yep, like I say no quibbles with people that do this reasonably. And I am not boasting that I don't, I just never had the need to.This YT chap though is just borrowing hugely to effectively try and build clicks on his channel and show off. Quote Link to comment Share on other sites More sharing options...
GranTurismoEra Posted June 6, 2019 Author Share Posted June 6, 2019 Sounds like a plan. Get a car that all the youngsters and banksters aspire to get. Do some mods and get people watching, build subscribers and views. Sell quickly and move onto the next highly desirable car. Quote Link to comment Share on other sites More sharing options...
ilogikal1 Posted June 6, 2019 Share Posted June 6, 2019 Why bother selling? Just default on your agreement and let the dealership come and collect it for you... Quote Link to comment Share on other sites More sharing options...
davey_83 Posted June 6, 2019 Share Posted June 6, 2019 (edited) Lots of people in the comments above don't get YouTube, it's a business. Not all shop owners own the premises. They're not classed as fronting, it's business. Most corporate companies lease vehicles not buy them, having cash tied up in a depreciating asset. If a car costs 15k in depreciation during the first 3yrs, and leasing or PCP for the same car for the same term costs 10k and you have no intention of keeping it, why pay the extra?..….... People that own their car outright with undeclared mods aren't in a advantageous position should a claim be needed. Edited June 6, 2019 by davey_83 2 Quote Link to comment Share on other sites More sharing options...
Stutopia Posted June 6, 2019 Share Posted June 6, 2019 It’s not my fault! TV did it, Brexit did it, Jeremy Corbyn did it, celebrity culture did it, Twitter did it, late recognition of my non-binary gender identity did it, ADHD did it, Ritalin did it, not being breast fed until I was 14 did it, the break up of the Spice Girls did it, my teachers didn’t teach me, MOMMY DIDN’T LOVE ME! I’m definitely not to blame. In all seriousness, I feel for the guy but a simple google search, or an old skool phone call to the financiers, would have yielded the answer. You live and learn but you gotta take it on the chin when you drop a nut and we’ve all dropped a nut. 1 Quote Link to comment Share on other sites More sharing options...
MDMetal Posted June 6, 2019 Share Posted June 6, 2019 2 hours ago, davey_83 said: Lots of people in the comments above don't get YouTube, it's a business. Not all shop owners own the premises. They're not classed as fronting, it's business. Most corporate companies lease vehicles not buy them, having cash tied up in a depreciating asset. If a car costs 15k in depreciation during the first 3yrs, and leasing or PCP for the same car for the same term costs 10k and you have no intention of keeping it, why pay the extra?..….... People that own their car outright with undeclared mods aren't in a advantageous position should a claim be needed. I think most people get YouTube.... The issue isn't that he financed it, he broke the terms.of the agreement. It's not his property why on earth should BMW want him messing with their property? Quote Link to comment Share on other sites More sharing options...
davey_83 Posted June 6, 2019 Share Posted June 6, 2019 (edited) You can mod a financed car, like what Litchfield and Mountune do for Nissan, Porsche and Ford - yes what Ricky did was wrong and his close friends should have had a word. This won't have been his first financed car that he's modded over the years. Dare I say it most financed performance cars get modded, like I said it's if you get caught. He got caught that is the only difference. Edited June 7, 2019 by davey_83 1 Quote Link to comment Share on other sites More sharing options...
TT350 Posted June 6, 2019 Share Posted June 6, 2019 I'm a moronic Brexiteer and even I know, don't even think about nodding a car on finance. Quote Link to comment Share on other sites More sharing options...
GranTurismoEra Posted June 7, 2019 Author Share Posted June 7, 2019 15 hours ago, ilogikal1 said: Why bother selling? Just default on your agreement and let the dealership come and collect it for you... LOL what about the credit score? Quote Link to comment Share on other sites More sharing options...
ilogikal1 Posted June 7, 2019 Share Posted June 7, 2019 49 minutes ago, GranTurismoEra said: LOL what about the credit score? What's a "con... se... quence"? You've just made that word up! [/Millennials everywhere] However... Meh, by the time it affects your credit score enough not to get credit, you'll have made your mint from your YouTube videos. And if you haven't, just whinge about it on social media until you get whatever ridiculous demands you want regardless. And if all else fails; crowdfunding. People, en masse, are idiots. [/A brief summary of society today] 1 Quote Link to comment Share on other sites More sharing options...
Umster Posted June 7, 2019 Share Posted June 7, 2019 I do find it ironic that baby boomers are talking about consequences. . . 49 minutes ago, ilogikal1 said: What's a "con... se... quence"? You've just made that word up! [/Millennials everywhere Taking this off topic but I have to say it. Millennials didn't sell housing, utilities or Royal Mail for under market rate then complain about price hikes, nor are Millennials the ones who trashed the environment. Give the young generation credit where its due and avoid trash talking a group over the actions of one individual. Back to the point, I do wanna see his next video and find out what happens 1 Quote Link to comment Share on other sites More sharing options...
sipar69 Posted June 7, 2019 Share Posted June 7, 2019 Interesting. Never really occurred to me when I modded the Nismo with an exhaust and HFCs. I had that on PCP but paid off the balance when I sold it on to an independent dealer. 1 Quote Link to comment Share on other sites More sharing options...
coldel Posted June 7, 2019 Share Posted June 7, 2019 1 hour ago, Umster said: I do find it ironic that baby boomers are talking about consequences. . . Taking this off topic but I have to say it. Millennials didn't sell housing, utilities or Royal Mail for under market rate then complain about price hikes, nor are Millennials the ones who trashed the environment. Give the young generation credit where its due and avoid trash talking a group over the actions of one individual. Back to the point, I do wanna see his next video and find out what happens No one is denying other segments of society are perfect, but then again we arent talking about those other segments, or those other issues. We are talking about this particular generation and these particular traits. And you cannot deny that technology, the required need to be seen often by complete strangers on the internet, as being successful be it from acquiring material goods, to showing that you can still cook a dinner on facebook. It's all about front, face, to be seen in a certain light and it's never been more prevalent - and moreso in this segment of society - thanks to social media and the internet. 2 Quote Link to comment Share on other sites More sharing options...
davey_83 Posted June 7, 2019 Share Posted June 7, 2019 Its like it you bought a set of wheels and tyre for £1800 on finance and after a few months decided you wanted to get the wheels refurbed in a difference colour, nobody would think twice. Its the same the for cars, yes not yours until paid off but evidential mods//alterations take place. Poor example I know, but in principle the same. I think its a tough call, has BMW sold more M cars due to LLF? Possibly a lot of owners would say yes, the channel had influenced their decision over a similar spec Audi, Nissan, Jag or Merc. Are BMW happy with the extra sales, yes but no. Still could all be fake news??? Quote Link to comment Share on other sites More sharing options...
GranTurismoEra Posted June 7, 2019 Author Share Posted June 7, 2019 (edited) 1 hour ago, sipar69 said: Interesting. Never really occurred to me when I modded the Nismo with an exhaust and HFCs. I had that on PCP but paid off the balance when I sold it on to an independent dealer. I called up Nissan and they just said to me warranty wont cover exhaust The dealer had no issue with backbox delete. They knew. I told them everything else was standard and no tunes or messing with the engine. Also I made sure outstanding was settled.....Its still a mod but not a pisstake like adding methanol injection and hybrid turbos. That definitely breaches the terms and diminishes the value of the car. Also the car was sold with the standard exhaust anyway. So the new owner has nothing to worry about in terms of warranty etc I guess thats why I liked the Short Tails. Didnt need much modification and a 10 minute job Edited June 7, 2019 by GranTurismoEra Quote Link to comment Share on other sites More sharing options...
Rikz2004 Posted June 7, 2019 Share Posted June 7, 2019 13 hours ago, ilogikal1 said: What's a "con... se... quence"? You've just made that word up! [/Millennials everywhere] However... Meh, by the time it affects your credit score enough not to get credit, you'll have made your mint from your YouTube videos. And if you haven't, just whinge about it on social media until you get whatever ridiculous demands you want regardless. And if all else fails; crowdfunding. People, en masse, are idiots. [/A brief summary of society today] You realise millenials is a term covering anyone born from 1981-1996. Some millenials are 38 years old and I'm pretty sure most millenials do not fit your stereotype. The general summary of *some* people in today's society I agree with, however I don't think it's that dissimilar to previous generations. It's just that now credit is so much more readily available. I feel for the YouTuber as I follow him on YouTube and he seems like a decent guy and produces great content. I think he has made a mistake and probably does realise that but at the same time it's all too easy for people in today's society to fall into that trap as credit is too easily available and there is not much/any education around finance. I have the view that he's bought the car and made modifications to it to produce content without realising the ramifications and possible fallout from this. Hopefully he finds a way to get himself out of the hole and doesn't resort to anything like crowd funding as others have suggested he might do. 2 Quote Link to comment Share on other sites More sharing options...
Redsky Posted June 7, 2019 Share Posted June 7, 2019 I do feel a bit sorry for him, probably got a brilliant finance deal got giddy and decided to sign it and run home and start these big grand plans. BMW aren't wrong at all he violated the contract and he is paying the price for it but I do get that sort of almost childish glee when something happens. I bought my very first car and within 2 days found out one of the coil springs was buggered and it needed all new brakes, but you get into that mindset of "This is amazing and fantastic I want to do it, screw it lets do it". But if anything hopefully he will learn from it, or hide it better next time. I imagine he would have had a very confused BMW tech at his yearly service. 1 Quote Link to comment Share on other sites More sharing options...
coldel Posted June 7, 2019 Share Posted June 7, 2019 I don't feel for him at all. He is a grown up adult. He is throwing a lot of money at a big ticket item. He makes no effort to read and understand what he is getting into. He starts the video saying he is not complaining then spends half of it complaining, pathetic. Take responsibility for your own lack of due diligence, stick your hand up and say I messed up. He isn't doing that he pretends at the start then goes into whinge-mode, a thinly veiled video at attempting to pass the blame when 100% of it is his. Pathetic. 4 1 Quote Link to comment Share on other sites More sharing options...
davey_83 Posted June 8, 2019 Share Posted June 8, 2019 Ultimately he hasn't hurt anyone and isn't bad person *understand no one has said he has. I also doubt he's after anyone sympathy. He's documenting what can happen during a vehicle finance agreement. Anyone who has modded a car on manufactures finance is no different. Hundreds of thousands of car guys and girls watch his content finding it entertaining. Having personally met and spoke with Ricky at a Midlands meet he held, he's a sound lad and I challenge anyone to show first hand experience of anything other. 1 Quote Link to comment Share on other sites More sharing options...
ilogikal1 Posted June 8, 2019 Share Posted June 8, 2019 20 hours ago, Rikz2004 said: You realise millenials is a term covering anyone born from 1981-1996. Some millenials are 38 years old and I'm pretty sure most millenials do not fit your stereotype. The general summary of *some* people in today's society I agree with, however I don't think it's that dissimilar to previous generations. It's just that now credit is so much more readily available. I feel for the YouTuber as I follow him on YouTube and he seems like a decent guy and produces great content. I think he has made a mistake and probably does realise that but at the same time it's all too easy for people in today's society to fall into that trap as credit is too easily available and there is not much/any education around finance. I have the view that he's bought the car and made modifications to it to produce content without realising the ramifications and possible fallout from this. Hopefully he finds a way to get himself out of the hole and doesn't resort to anything like crowd funding as others have suggested he might do. I do. It was a sweeping comment made for comedic effect. Seems to have hit a nerve with a couple of people though. Also, he hasn’t bought the car, that’s very much the point here. Quote Link to comment Share on other sites More sharing options...
GranTurismoEra Posted June 8, 2019 Author Share Posted June 8, 2019 Theres the thing about credit. There are reasons why well off youngsters may opt to finance a 25k car as opposed to a 65k car because of youtube. A lot of bigger youtubers are still driving lower valued cars until they get big enough to take the plunge on a big ticket item costing 65k or have the finances in place to protect against any eventuality such as demand for payment etc. He could have got a used M4 for half the price from a third party. 30k is easier to obtain a loan for than 65k. But no go all out and get the highest spec when youre going to mod the hell out of it anyway. But thats the past. A finance company may offer him a deal or he may have business partners who could help him out. Crowd funding? He could do but he,ll never be able to repay a grand gesture like that. He could leave UK and produce content from benidorm or canary Islands. Either way he needs to find a solution fast. Selling it still leaves him owing a large chunk if his deposit was low due to depreciation. Maybe he can sell for 48k and pay the difference out of his own pocket. Whos going to buy a molested BMW though?! Quote Link to comment Share on other sites More sharing options...
coldel Posted June 8, 2019 Share Posted June 8, 2019 (edited) 10 hours ago, davey_83 said: Ultimately he hasn't hurt anyone and isn't bad person *understand no one has said he has. I also doubt he's after anyone sympathy. He's documenting what can happen during a vehicle finance agreement. Anyone who has modded a car on manufactures finance is no different. Hundreds of thousands of car guys and girls watch his content finding it entertaining. Having personally met and spoke with Ricky at a Midlands meet he held, he's a sound lad and I challenge anyone to show first hand experience of anything other. I am sure he is a sound lad, I am sure lots of people like his videos but that is nothing to do with this thread. It doesn't take away from the fact that he is clearly 100% in the wrong if the Ts and Cs of borrowing the money to buy the car state that until he has paid his debt he cannot modify the vehicle. What is he documenting? The obvious possibly? If all his watchers need to be educated on the importance of reading the Ts and Cs when borrowing thousands of pounds then they are clearly in the bottom 5% of the intelligence pool of the human race. Edited June 8, 2019 by coldel 1 Quote Link to comment Share on other sites More sharing options...
davey_83 Posted June 9, 2019 Share Posted June 9, 2019 Someone stepped up and paid it otf for Ricky. Quote Link to comment Share on other sites More sharing options...
ilogikal1 Posted June 9, 2019 Share Posted June 9, 2019 Stepped up. Quote Link to comment Share on other sites More sharing options...
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