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  • BlueLabel 11 posts

    I’m thinking of buying a Skoda on PCP Finance, essentially to get the £2,000 dealer incentive. Planning to pay it off / withdraw within 14 days (assuming no clawback).

    Has anyone done this and do you know if I can use a credit card or Curve debit card linked to Virgin to pay off the finance? Ta

    walace 25 posts

    I paid off my VW Finance recently so I guess the process will be similar given the same parent company. You can pay up to £5000 by credit or debit card, so if the settlement figure if higher than that just call back over a few days.

    Bear in mind though the I tried to buy a Service Plan from VW Finance a while back (when you could use the IHG Card and Curve together) and they tried to run it as a cash payment. Whether I tried it directly to the IHG Card or through Curve it declined as it exceeded my Daily Cash withdrawal amount. I’m glad it did due to the fees and interest through this type of payment. As such it’s more than likely settling the finance by credit card would be treated as cash so any points gain (if any) would be negated by fees and charges.

    Suffice to say, I used my debit card!

    elguiri 233 posts

    I paid off my skoda finance (which is actually VW financial services) via card after a few months (again, did PCP for the finance incentive). I was told not to pay it all off until about 3 months had passed, which was okay anyway as I needed a few more months to get the full amount together.
    I didn’t know about potential CC usage, so actually just avoided the interest and paid off by debit card, but I definitely had to make the payment over the phone back then.

    @NorthernLass
    was successful I believe using the IHG card for this (obviously before it’s recent changes).

    CarpalTravel 328 posts

    The three months is so the dealer gets their commission from VWFS. If you pay it off early they get reduced/nothing.

    NorthernLass 6,706 posts

    Yes, VW Finance accepts cc payments. You need to find someone in the back office who actually knows this though! Think it’s just MC or Visa, but obviously still a points-earning opportunity.

    *Just for the record, I have NEVER been charged fees or interest for paying car finance, and have done it with a few companies and various different cards. I always use the actual card, not Curve, so that might make a difference.

    • This reply was modified 54 years, 2 months ago by .
    marks7389 377 posts

    I did exactly this three years ago, paid off directly via the Virgin Atlantic+ credit card. All-in-all, with Drive The Deal and PCP incentive discounts, it was one very good deal….

    Andrew. 466 posts

    Start by checking to see if you are genuinely getting the best price by ordering using the traditional model.

    If you are military or public sector then you should be able to significantly undercut dealer prices – even with the faux discounts.

    Tariq 57 posts

    Have paid VWFS using Hong Kong (direct and Bendy), and with Beardy. No additional charges/interest from the cards. I only use it to pay my monthly lease agreement.

    johnny5a 14 posts

    Has anyone done this recently? I am about to pay mine off.

    BlueLabel 11 posts

    We paid the final bit of our Skoda finance off in August, after about 9 months (so not all in the first 14 days as I originally planned when I started this thread, but still made a chunky saving 😀).

    I used an Avios Barclaycard, didn’t get any extra charges – my basic Curve didn’t work for some reason. I’d totally recommend.

    italiastar 1 post

    Has anyone done this recently? I am about to pay mine off.

    Hi, How did you get on – I’m looking to do the same when I get my car – how long did you wait before settling – I’ve been told by different salespeople between 1 minute and 6 months in order to keep the benefits.

    redethernet1 33 posts

    Remember that you wont know you got hit with any charges until your bill is generated!

    robkeane 77 posts

    Just check the details of the finance and how long the cooling off period is. It’s possible it you pay it off within the cooling off period that the finance company will consider that finance never happened, in which case it means they may consider that you are not eligible for the finance contribution dealer incentive.

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