PCP early settlementki

[iluvkefalonia]

Hi

I'm thinking of a new 3 series and have cash so no need to finance, but the dealer says I if I take out a PCP deal, BMW will give me a £1000 deposit contribution, I can settle the finance after a couple of months without penalty and will only incur a small amount of interest, sounds fine but is it correct?

[iluvkefalonia]

Sorry my heading sounds like I'm Russian!!

[iluvkefalonia]

Sheepshanks said:

You can usually withdraw from the finance completely (you've got 14 days to do this) and still keep the incentives. Advantage of this is you don't pay any fees or interest at all.

Thanks for this, it does seem right but (almost) too good to be true, I'm going to give it a go.

[iluvkefalonia]

Just for an update, I've had my new car for a week, I received a £1000.00 deposit contribution from BMW for taking a PCP finance deal and I have just paid the finance off no problems, BMW finance were excellent to deal with, no questions as to why I wanted to withdraw from the deal, it cost me £14.00 in interest payments. I think there are much higher deposit contributions on some models so it might be worth a look if you have cash but can make this work to your advantage as I have.