Car Finance Being Cancelled After Modifying

[Dutch77]

I don't think it is relevant where the clip took place or how it came about.

It is fairly logical and common sense to conclude that any lease or HP will have clauses preventing modification to the vehicle. CMs will be on a case by case basis, but even a fairly broad comment "car to be maintained and serviced in accordance with manufacturer requirements" will rule you out if challenged.

But my other point holds - the chances of the above sequence of events occurring is slim, but it's there all the same.

[Sharkie]

I don't think it is relevant where the clip took place or how it came about.

It is fairly logical and common sense to conclude that any lease or HP will have clauses preventing modification to the vehicle. CMs will be on a case by case basis, but even a fairly broad comment "car to be maintained and serviced in accordance with manufacturer requirements" will rule you out if challenged.

But my other point holds - the chances of the above sequence of events occurring is slim, but it's there all the same.

Agree, any lease where the car has to be handed back to the manufacturer at the end of the term (including where there is a "Guaranteed Future Value"), could be subject to some clause (or a number of clauses) specifying the condition in which the car is to be returned in or in which condition it is to be kept during the term.

Such a clause will likely be fully enforceable in Australia and can lead to an immediate termination of the lease if breached.

The point is, if you modify your car while it is under such a type of lease you are putting at risk not only the manufacturers warranty but also your lease. Lots of us accept that risk, but it is there all the same (in dutch's words ).

[Captain Courteous]

If it were a secured personal loan, like what many of us on here would have, I don't see an issue with mods. The only time your financier might find out, I suspect, is if you're part of a big accident and insurance gets involved (especially if you're at fault). If your dealer is your financier and you mod your car, then bring it to them for service, that's just silly. Go to a specialist.

Lease is another story altogether..

[Ozsko]

No one here has got their car financed and can report what the agreement says? It seems common sense any who has a car leased would figure out he/she does not own it but a finance agreement to buy is not a lease agreement and a personal loan is different again.

[Mattlock]

My cars are typically on novated leases against my salary.

I know (because I asked when I set it up for my Golf R) that I am entitled to modify my car as long as the mods are roadworthy. My lease company can demand a RWC at any time.

They also state that if my mods reduce the value of the car then that is my problem and I will have to make up the difference.


Sent from my iPhone using Tapatalk Pro