Sytner £2k Used M Finance Deposits

[James-1u8cl]

Looking for some help from anyone that might have purchased a pre-reg M car from Sytner recently.

They are currently offering a £2k deposit contribution on finance but that's on the basis of the rather horrendous 10.9% APR. I know it is apparently possible to take such contributions on new car finance and then withdraw without having to repay the finance contribution but wondered if anyone had also done this on the used scheme being offered by Sytner.

Ideally I'd take the finance then withdraw/settle immediately but don't want to lose the £2k.

Any experience appreciated.

Thanks

[CSLchappie]

I did it at the start of the year with Sytner, took the finance at 10.9% with a BMW Supported deposit contribution. Got a settlement figure shortly after and paid off in full with no penalty, the only hassle I had at the time was with BMW FS customer service who I believe were having a massive reorganise so it ended up taking a couple of weeks to get the settlement sorted.

[James-1u8cl]

Thanks very much, very helpful.

[st33ly]

Was the settlement figure the same as the full finance figure? No extra charges ect?

[CSLchappie]

st33ly said:

Was the settlement figure the same as the full finance figure? No extra charges ect?

Pretty much, I just had to pay the accrued daily interest between the start of the agreement and the day it was settled, something like £2 per day IIRC.