Car finance - hidden commission payments

[Crasher242]

SmoothCriminal said:

Has anyone had bmw/mini send you a decision saying no hidden finance for a car you haven't even queried but then radio silence for the one you have?

Other than the auto reply, I've not heard a peep out of them for any of mine yet.

[OddCat]

sugerbear said:

OddCat said:

DonkeyApple said:

Not quite right. The issue with the scenario is that when you walk in with your own money you don't get the same offer price on the car. That's the key to the jig and the issue with captive house finance.

So you get the car cheaper if you take the dealer finance ? Is this not six of one and half a dozen of the other ? Does the price discount for taking the finance therefore not have to be offset against the discretionary commission refund ? Otherwise the buyer had the penny and the bun ?

DonkeyApple said:

The key to equitable pricing, transparency and eliminating over charging is to always segregate the finance deal from the purchase deal.

This is a discretionary purchase ! There isn't any equitable element. It's like buying a washing machine. I'm sure various places sell the same machine at different prices and have different finance deals with different splits of who gets what.

Caveat emptor and all that....

You do understand the difference between obtaining credit and buying a washing machine right?

Well, I understand the difference between a car and a washing machine. And I understand the difference between buying cash and buying on credit.

And that these are interchangeable pairs.

Hope that helps

[Y not]

Looking forward to the autumn decisions.

Prediction 1 - it’s found to need compensation and the winter car market goes bonkers as everyone follows the rules of man maths and spends the “free money” on more cars. Prices also go up immediately as dealers realise there is blood in the water again.

Prediction 1a - divorce numbers escalate as people celebrate the decision and immediately cause the smoke and mirrors of man maths to disappear and partners throw the calculator at car nuts after realising the real amount spent on cars….

[axel1990chp]

Just been discussing this at work today, seems a few of the lads have had positive claims on used vehicles bought through finance through various finance companies, none what so ever with new vehicles via VWFS.

I had my 2 new vehicles from VWFS confirmed as no commission.

Only other vehicle is an ex-demo I30N via black horse on a "used" finance agreement. They've sent me emails every month saying they're busy please wait, yet I see countless adverts everywhere saying they're liable.

As everyone is, waiting until September to see the outcome.

[Random_Person]

I have had no answer from Toyota, theu replied to me at the stat of March saying they would give me an answer within 28 days. That was 2 months ago and they have failed to respond to my initial and subsequent chaser emails.

[alscar]

Random_Person said:

I have had no answer from Toyota, theu replied to me at the stat of March saying they would give me an answer within 28 days. That was 2 months ago and they have failed to respond to my initial and subsequent chaser emails.

Yup same with Alphera.
Decided not to worry or bother chasing again and will just wait for the September announcement by the FCA.
ML said the important thing was to email now and just get your name on the list and the auto reply proves that apparently.

[gt4rs.wp]

Porsche Financial Services:-

We’re writing to let you know that based on our review of your complaint, we believe a Discretionary Commission Arrangement may have applied to your agreement and as such the pause applies to your complaint. We are therefore not in a position to issue a final response to your complaint at this time.