BMW cancels YouTuber's finance after tuning £60K M4 to 720hp
BMW have given Riccardo Senior of LivingLifeFast just a week to pay, threatening to take away his £60,000 BMW M4 Competition, if he fails to cough up the full amount.
BMW says he is in breach of their contract because the car is modified, Ricky has fitted a hybrid turbo, methanol injection, an Armytrix exhaust and various body modifications. The M4 now runs at 720hp, a 276hp increase on the standard car's 444hp.
The Youtuber has made a video in a bid to warn others who may have a car on finance, but are unaware of the problems they may face with their finance company, who can demand payment at any time if their contract is breached.
The problem is that the car is on a PCP (Personal Contract Purchase), meaning that there is a deposit, a number of payments and a final payment based on what the car will be worth at the end of the contract. A PCP contract means that the customer could hand the car back at the end of the contract instead of paying the final payment. LivingLifeFast's BMW is modified, meaning it would be typically worth less than a standard used car when BMW came to sell the vehicle to cover the final payment.
Chances are you've probably seen a LivingLiveFast film before, the videos featuring 'Arthur' have received a lot of attention in particular. Arthur is an OAP with an addiction to modified cars. He has featured in LivingLifeFast's videos with his 560hp M135i, 600hp Golf R, and 900hp TTRS.