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Question on car finance agreement - early settlement

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  • TrevUK
    TrevUK Posts: 41 Forumite
    Any idea what sort of bonus it would have been?

    He's a nice guy, did her a cracking deal on the car however he didn't tell her or us that if we cancelled within 14 days we would get the £750 and no pay interest. I feel bad he wouldn't get the bonus, but sort of serves him right for not mentioning it.
  • SeanG79
    SeanG79 Posts: 977 Forumite
    Part of the Furniture 500 Posts Name Dropper
    No, it will depend on his individual incentive structure and how many vehicles he has sold in the month/quarter, etc. and also what incentives the dealership receive from Audi.
  • TrevUK
    TrevUK Posts: 41 Forumite
    Part of me says he's done what he said he'd do all along (with the exception of the 58 day interest charge), so she should really stick to her word and make the first payment.
  • National_Debtline
    National_Debtline Posts: 7,998 Organisation Representative
    Tenth Anniversary 1,000 Posts Combo Breaker
    TrevUK wrote: »
    Thank you David, it is a regulated agreement.

    Hi TrevUK,

    It must be cancelled within the 14 days. That's really important.

    Best wishes,

    David.
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • redpete
    redpete Posts: 4,735 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    We bought a Skoda recently using VAG finance (same group as Audi). The deal with finance included 3 years free servicing, and additional discount off the purchase price. I paid the VAG loan off in full after about a month and the incentives still stand.
    loose does not rhyme with choose but lose does and is the word you meant to write.
  • TrevUK
    TrevUK Posts: 41 Forumite
    Other half called today. The Audi agreement hasn't been activated apparently and it isn't on the system. It's also not on the system at the dealership.

    So the upshot is after calling and speaking to a rude guy at the dealership, if we cancel the agreement we will keep the servicing as that was with the car but we will lose the £750 apparently as the agreement isn't activated.

    As my partner has already informed Audi that she wishes to cancel it, they won't activate it now. So effectively lost the £750! What a nightmare. Be aware, make sure that the agreement is activated!!!

    We are going to pop in and speak to the neighbour tonight to see if he has any pull, even if it is to actually get it activated and then pay a month as that would be cheaper than losing the £750!
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