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I’d advise people to check the cooling off period for any finance they are taking out simply to get the finance deposit contribution.
If you cancel during the cooling off period just be sure that the finance company does not conclude that the finance never happened at all, in which case you’ll be chased for the finance deposit contribution.
And as someone upthread correctly said, the dealer tells you to wait X months simply because they don’t get the full kick-back from the finance company if you pay it off within X months.
Thanks for the feedback. My plan was to pay off the majority of the finance straight away and then leave less than £1000 left, then pay back over the 6 months that the dealer advised. That way the interest is limited and the dealer still gets his comission. Hopefully everyone will be happy!
Once it is all set up i will give them a call and update.
Any recent experience with this?
Hoping to pay off Volkswagen PCP using Virgin Atlantic credit card
Do you mean the monthly payments? Is it via VW Finance?
Do you mean the monthly payments? Is it via VW Finance?
Yep VW Finance – nope, talking about paying it off in full
I recently bought a new car and took the finance for the £2,500 discount they offered. I waited for 2 weeks and paid it off in full with the Barclaycard Avios+ card and didn’t attract any fees. I don’t know if Virgin will charge fees though.
I recently bought a new car and took the finance for the £2,500 discount they offered. I waited for 2 weeks and paid it off in full with the Barclaycard Avios+ card and didn’t attract any fees. I don’t know if Virgin will charge fees though.
This business of a discount for taking finance, even at 0%, is so dodgy! We will see what happens when the Supreme Court hands down its judgment re car finance later today – unusually timed at 16.35 so as to be after stock market hours rather than the usual 09.45.
I recently bought a new car and took the finance for the £2,500 discount they offered. I waited for 2 weeks and paid it off in full with the Barclaycard Avios+ card and didn’t attract any fees. I don’t know if Virgin will charge fees though.
This business of a discount for taking finance, even at 0%, is so dodgy! We will see what happens when the Supreme Court hands down its judgment re car finance later today – unusually timed at 16.35 so as to be after stock market hours rather than the usual 09.45.
yes, I agree! But it also allowed me to pay for the majority of the cost via card, as the dealership would only allow a couple of thousand and then wanted the rest by bank transfer, so worked in my favour!
On a similar note, we are looking at buying a used VW car and there’s perks to buying with PCP (longer warranty, longer RAC cover, etc) but we have no interest in having PCP and just want to buy the car.
Is there any way to wangle the perks, but shirking out / paying off the agreement?
The only tangible avenue appears to be buy the £99 two year service plan, and cancel the PCP the day after purchase for minimal interest payments but ideally would like the extended warranty etc
On a similar note, we are looking at buying a used VW car and there’s perks to buying with PCP (longer warranty, longer RAC cover, etc) but we have no interest in having PCP and just want to buy the car.
Is there any way to wangle the perks, but shirking out / paying off the agreement?
The only tangible avenue appears to be buy the £99 two year service plan, and cancel the PCP the day after purchase for minimal interest payments but ideally would like the extended warranty etc
From speaking to VWFS / garage , they said you keep the benefits even if cancel PCP
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