M&G closing down

[kdevitt]

Rumoured that some dealers may be in some trouble as the PCP cars have begun to return this year and due to the flood of UK imports meaning that their Guaranteed Future Minimum Values may have been over-estimated. In essence, they will have forecourts full of overpriced 3yo cars.....

BMW Finance are on the hook for any losses on PCP cars, the dealers are free to offer whatever trade in value they want, so that's unlikely. Have found that out first hand!