VWFS PCP deals and paying balance

[teeceeee]

Hi, am seriously considering a just over 3 year old Cupra.

I could pay cash, but the finance 'perks' here

https://www.cupraofficial.co.uk/used-cars/cupra-us...

for used petrol cars over 3 years old are persuading me to finance it with max deposit - and then pay off asap.

The dealers have recommended that i dont settle the finance for at least 6 months as VWFS could potentially revoke those 'offers'...

Not sure how they could do that once all signed and sealed etc - or is there something where the dealer does not get their commision or whatever if i pay it back quickly and VWFS will never revoke the warranty, MOT plan and roadside assistance.

Thanks

[Macneil]

I've often wondered this too, but surely it is spelt out in the agreement?

[highet]

I've done the "take finance and pay it off straight away" trick to get the extra perks with VW,Audi, Volvo and MG over the last few years - apart from paying a negligible amount of interest I've never had any problems and there's never been any hint of having to pay anything back - I was even advised to do this by the Audi salesman to get the best deal on my A3!!

[loskie]

Ask salesman to show you this in the ts and cs. Probably more like they need that to secure their commission.

[Grant Urismo]

Reminds me of negotiating with a Ford dealer about a decade ago. The sales rep kept insisting we'd save money by taking a 1.9% finance deal instead of paying cash in full. Obviously nonsense, but the they kept floundering about trying to argue the point until my partner offered to go home and get her accountancy qualification certificates and laptop and show them on a spreadsheet exactly how it would work out worse. We even offered to compromise on taking out the finance then paying it off when we drove home before eventually the dealer realised they had no hope of pulling the wool over our eyes. They cracked and admitted they would get a £1000 bonus if they could sell finance that wasn't paid off in the first 6 months.

We offered to split the commission and they accepted: £500 off the price of the car, we took out the finance and promised to not to pay off until month 7.

My advice is screenshot the web page (in lots of overlapping chunks if you have to) so you have proof that the deal you were offered does not say they can to take the perks off you, then ask them to level with you about why they are so keen on pushing you to go down that route. Given the recent misselling fiasco they will probably be acutely aware that lying to you could come back to bite them, so they are likely to tell the truth.

If you are asked to sign anything, read it it thoroughly to make sure there's no extra added text about taking the perks off you.

[Mr R]

The six months will only relate to the period where their commission gets debited back by the finance company - absolutely zero issues for you as a consumer to settle as soon as you want to and still benefit from the additional offers (provided no stipulation on having a live finance agreement).

[shtu]

I have used VWFS several times, and called up next working day to cancel the finance each time.

It costs a handful of £ interest, and has never had an effect on any discounts or other perks included in the deal.

The "six months" thing is a salesman trying to retain their commission for the finance sale. It has zero impact on your credit score or anything else.

VWFS literally couldn't care less about you backing out of the finance. Despite all the tales about it on the internet, almost nobody does and the minimal cost of some doing it is calculated-in.

[teeceeee]

shtu said:

I have used VWFS several times, and called up next working day to cancel the finance each time.

It costs a handful of £ interest, and has never had an effect on any discounts or other perks included in the deal.

The "six months" thing is a salesman trying to retain their commission for the finance sale. It has zero impact on your credit score or anything else.

VWFS literally couldn't care less about you backing out of the finance. Despite all the tales about it on the internet, almost nobody does and the minimal cost of some doing it is calculated-in.

thats what i would have expected - as VWFS have made their (albeit little) commison, why would they care..

thanks all