I have read many cases of people exercising their right to terminate the finance within the 14 day cooling off period and still keep all contributions.

All audis mind.

NPI

1,310 posts

125 months

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[news]

Friday 24th January 2014

rehab71 said:

NPI said:

rehab71 said:

OP, do not withdraw within the first 14 days, you'll have to pay back the deposit allowance and loose the incentive.

Read the thread I linked to.

It does seem a bit bonkers that you can keep the incentives, but apparently you can.

I know, I've been selling cars for 11 years!

Ah yes - you gave the wrong answer several times in the linked thread.

Silverage

2,048 posts

131 months

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[news]

Saturday 25th January 2014

I was the OP in the other thread mentioned and I can confirm that you need to exercise your right to WITHDRAW from the agreement within 14 days of taking it out. Do not wait more than 14 days, do not make any of the monthly payments.

You will be charged how ever many days' interest it takes (it was 5 in my case I think) and that's it. I did this about 2 months ago now and none of the incentives have been clawed back. In fact I had a letter a couple of weeks ago confirming the details of the free servicing.

rehab71

3,362 posts

191 months

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[news]

Saturday 25th January 2014

NPI said:

rehab71 said:

NPI said:

rehab71 said:

OP, do not withdraw within the first 14 days, you'll have to pay back the deposit allowance and loose the incentive.

Read the thread I linked to.

It does seem a bit bonkers that you can keep the incentives, but apparently you can.

I know, I've been selling cars for 11 years!

Ah yes - you gave the wrong answer several times in the linked thread.

I think different manufacturers have different rules, so it's best to let the 14 days pass before you settle, just in case.

I sell Fords and we currently have some large deposit allowances (up to £1950 on some models) and if you withdraw within the 14 days you have to pay back the deposit allowance.

Silverage

2,048 posts

131 months

[report]

[news]

Sunday 26th January 2014

It's your legal right to withdraw within 14 days of signing up. After you do so, you're paid up and the car is 100% yours. How would the finance company then be able to get any deposit contribution back from you?

mcflurry

9,103 posts

254 months

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[news]

Monday 27th January 2014

I think Toyota have got wise to this.
Their "free servicing with finance" offer only applies if you have the finance agreement open at months 6 and 18, when you get a voucher to use for the next 2 services frown