VW Solutions Finance

Trebor16

With the solutions deal you will have a right of withdrawal which means as long as you inform VW Finance within 14 days of signing the agreement and settle the loan then all you will have to pay is any interest accrued within the 14 days.

If they are making a deposit contribution this will not be affected by withdrawing from the agreement.

I did this with BMW finance last who were offering a £800 deposit contribution on certain motorcycles and I still kept the deposit contribution. A friend of mine also did the same.

anotherbaldrick

Trebor16 wrote: »

With the solutions deal you will have a right of withdrawal which means as long as you inform VW Finance within 14 days of signing the agreement and settle the loan then all you will have to pay is any interest accrued within the 14 days.

If they are making a deposit contribution this will not be affected by withdrawing from the agreement.

I did this with BMW finance last who were offering a £800 deposit contribution on certain motorcycles and I still kept the deposit contribution. A friend of mine also did the same.

You can withdraw from the VW Solutions finance agreement at ANY TIME and all you will pay is the amount autstanding, no penalty. That is stated on the agreement contract form.

Trebor16

anotherbaldrick wrote: »

You can withdraw from the VW Solutions finance agreement at ANY TIME and all you will pay is the amount autstanding, no penalty. That is stated on the agreement contract form.

But only if you withdraw within 14 days of signing the agreement. Outside of the 14 days then you would have to settle and could be liable to any interest penalties that are part of the contract.

anotherbaldrick

Trebor16 wrote: »

But only if you withdraw within 14 days of signing the agreement. Outside of the 14 days then you would have to settle and could be liable to any interest penalties that are part of the contract.

NO , I have just done it at 4 weeks and as I said it is anytime, no penalty. 14 days just relates to the Finance Law , not what VW Solutions actually gives you!.

Trebor16

anotherbaldrick wrote: »

NO , I have just done it at 4 weeks and as I said it is anytime, no penalty. 14 days just relates to the Finance Law , not what VW Solutions actually gives you!.

I very much doubt you withdrew from the agreement. You would have been able to settle it which is very different to your right to withdraw.

https://www.vwfinance.co.uk/content/sites/vwbank/vwfinancecouk/en/privatecustomers/kundenservice/zeit_test_23_30111111.html

anotherbaldrick

Withdraw or settle , you just pay the outstanding finance and you are not penalised for terminating the agreement , compre ? They also make it very easy, one quick phone call, they advise you the amount and confirm it, you send them the cheque and they send you a letter stating they have no further interest over the car and have notified the agencies accordingly . Could not believe they did it so swiftly.
You can do this at any time during the life of the agreement.

GP_1

Great thread!

I've just been offered this arrangement by my VW dealer - a £2K "deposit contribution" off my new Tiguan and 3-year serving plan for £249 if I take the VW Solutions finance. I've ordered the car but it won't be here until October so haven't fully signed up for Solutions yet.

The dealer said I could pay the loan off early and reduce the interest Charges payment based on the "Rule of 78s" without loosing the discounts, though he has been rather vague about when I could do this saying "they like you to keep it for about 3 months if possible".

3 months of payments comes to about £600 of charges (interest,first and final payment) so Trebor16's suggestion of withdrawing from the agreement within 14 days looks the cheapest way to do this. Is there really no way they can re-claim the deposit contribution? It all seems too good to be true!!

magnet

I'm in the exact same position - buying a new Tiguan and being offered the £2K "deposit contribution" and 3-year service plan for £249 if I take the VW Solutions finance.

Similarly; I don't really want the finance but don't want to lose the incentives, so want to pay it off as early as possible to achieve the lowest overall cost.

Did you get an answer GP 1? Or does anyone else know how early you can withdraw or pay off the 'VW Solutions' credit without losing the incentives? And is it really necessary to pay it off in two bits (ie: 'the bulk' followed by 'the settlement') as mentioned earlier in the thread?

TradePro

The Tiguan is 'average' at best in it's class, and has been out for 5 years now so I would guess a replacement is around the corner - the £2,000 incentive isn't that great based on this.

anotherbaldrick

The Tiguan is a very comfortable , reliable and economical in it's 140 ps TDI 2WD configuration (54mpg) makes a good buy especially with £2K off .