How much off list price?

ComicGeek

zooks wrote: »

Really? i was under the impression if I settled I would be charged admin and a minimum interest cost but if cancelled it I would only pay a few days interest?

I agree. I 'withdrew' (that was the term on the agreement rather than cancel) from the finance within 14 days, and only had to pay the daily interest cost for the days up to withdrawing. I thought settlement was only when you had gone beyond the 14 days period, and could include additional costs depending on the finance provider.

The dealership did try and convince me to pay the 1st monthly payment so that they could get their commission, but it would have been stupid to not cancel within the 14 days when I had the cash.

ComicGeek

Tom99 wrote: »

That is an interesting question. There seems to be a view that if you cancel within your 14 days you might have to pay back the discount you got.

Unless it's written in the agreement they can't make you. It was specifically written into my agreement (Kia) that any manufacturer contributions wouldn't need to be repaid if you cancelled within 14 days. It was well worth getting the £1k contribution and then cancelling the finance.

One thing to be aware of though is that there were 6 days between the date on the agreement and when I actually received it in the post. The agreement stated that the 14 days started from when I received the agreement rather than the date on the accompanying letter - however even though I phoned up to cancel the day after collecting the car I was told that it was 16 days, and that I couldn't cancel. Obviously sorted it out with a manager in the end, but it also annoyed me that the 14 days didn't start when I actually picked the car up (which was the earliest the dealership could do as well, not my decision). So best to do it as quickly as possible to prevent increased stress levels!

zooks

ComicGeek wrote: »

Unless it's written in the agreement they can't make you. It was specifically written into my agreement (Kia) that any manufacturer contributions wouldn't need to be repaid if you cancelled within 14 days. It was well worth getting the £1k contribution and then cancelling the finance.

One thing to be aware of though is that there were 6 days between the date on the agreement and when I actually received it in the post. The agreement stated that the 14 days started from when I received the agreement rather than the date on the accompanying letter - however even though I phoned up to cancel the day after collecting the car I was told that it was 16 days, and that I couldn't cancel. Obviously sorted it out with a manager in the end, but it also annoyed me that the 14 days didn't start when I actually picked the car up (which was the earliest the dealership could do as well, not my decision). So best to do it as quickly as possible to prevent increased stress levels!

My dealer (VAG Group) wants me to come in the week before collection to sign the finance forms but I can't withdraw until I have an acceptance letter from the finance department which could be a week after I collect the car? Is that correct?
If so I think I might be really busy right up to collection day ;-)

Sorry to off topic the OP's thread but might be useful to them too,

ComicGeek

zooks wrote: »

My dealer (VAG Group) wants me to come in the week before collection to sign the finance forms but I can't withdraw until I have an acceptance letter from the finance department which could be a week after I collect the car? Is that correct?
If so I think I might be really busy right up to collection day ;-)

Sorry to off topic the OP's thread but might be useful to them too,

No idea, but sounds like you need to investigate further to avoid being caught out. Just remember never to trust anything the salesman tells you...

For both Toyota and Kia I've been able to phone up to withdraw from the agreement and pay by BACs on the same day - sounds like a delaying tactic to have to wait for a letter!

neilmcl

uknick wrote: »

As you've said any new car, if you could point me to a genuine 20% off a new i3 I would be most grateful.

I say "genuine" because all BMW dealers I've spoken to give about a 15% discount off list, but conveniently forget to mention this is the government allowance of £5k plus the BMW contribution available on pretty much all new BMWs. These prices have come through Carwow and face to face with the dealer.

I got around 22% off my current 1 series, although I did have to take out finance deal to get all the relevant contributions. I know some have had even better deals for an M140i. It'll come down to which dealers, timing and your own powers of persuasion.

neilmcl

Tom99 wrote: »

That is an interesting question. There seems to be a view that if you cancel within your 14 days you might have to pay back the discount you got.

That just doesn't happen.

uknick

neilmcl wrote: »

I got around 22% off my current 1 series, although I did have to take out finance deal to get all the relevant contributions. I know some have had even better deals for an M140i. It'll come down to which dealers, timing and your own powers of persuasion.

I'm not surprised by the discount you got on your 1 series, my partner managed to get 30% on a stock X1 a couple of years ago without taking out any finance.

But, if you're looking to buy a car where demand outstrips supply why on earth would dealer/manufacturers discount them? So, the comment earlier in the thread appears to be correct; it all depends on the car you're interested in.

Your comment contradicting this saying ALL cars can attract 15% to 20% is based on your, might I say limited, experience and not the complete marketplace.