Arnold Clark Dealer finance , paying off early

[jonny70]

I have seen a used car at a VW main dealer

If i take arnold clarks HP/finance and pay the finance off (like within a month ) can this be done?

If the finance is taken can I pay it off early without a penalty (like within a month)

Reason I ask is I have seen a car and wont have the money available for 3 weeks and I think the dealer will give additional discount if take finance
anyone done this?


Thanks in advance

[tonygt3]

Yes, that's the way.
Pay off ASAP , before the the monthly repayments kickin

[jonny70]

tonygt3 said:

Yes, that's the way.
Pay off ASAP , before the the monthly repayments kickin

have you done this before? so whats the grace period 30 days?

[rfoster]

Assuming it's a regulated hire purchase agreement then you can 'withdraw' from the finance within 14 days by paying back the money you borrowed, plus a daily interest rate which will be shown on your agreement. It it's after 14 days then you'll need to request a settlement figure from the finance company and you'll have to stump up for any document fees outlined in the agreement.

[jonny70]

rfoster said:

Assuming it's a regulated hire purchase agreement then you can 'withdraw' from the finance within 14 days by paying back the money you borrowed, plus a daily interest rate which will be shown on your agreement. It it's after 14 days then you'll need to request a settlement figure from the finance company and you'll have to stump up for any document fees outlined in the agreement.

thanks for that.

Will check with the terms with Arnold.