Keeping a Kia PCP contribution and settling within 14 day

smjxm09

Kia offer a £1500 contribution if a PCP is taken out on a new car. I want to do a settlement within 14days and keep the contribution. I have done this before on new Mercedes with no problem.

My son has a Kia and settled after the first payment but was charged far more than my calculation. They sent me the figures but I could not make head or tail of them.

The question is has anyone bought a Kia and settled within 14 days without Kia asking for the contribution back?


The salesman is saying leave it for 3 months but I am thinking his motivation for that comment is his commission. I haven't found a dealer contribution covered in the T&C's regarding settlements.

neilmcl

Your son was charged more because of interest, although it wouldn't been that much. No need to worry, they won't/can't take back the contributions if you cancel/withdraw or settle the finance early.

iolanthe07

I bought a Kia with a £2K contribution subject to taking out a PCP. I was happy to do this, but I waited four months to pay the PCP off because I didn't want the very helpful (and extremely attractive) young lady who sold me the car to lose out on her commission. It didn't amount to much of a loss, and it was still an extremely good deal.

Car_54

iolanthe07 wrote: »

I bought a Kia with a £2K contribution subject to taking out a PCP. I was happy to do this, but I waited four months to pay the PCP off because I didn't want the very helpful (and extremely attractive) young lady who sold me the car to lose out on her commission. It didn't amount to much of a loss, and it was still an extremely good deal.

I bought a car a couple of years ago on PCP with £1k contribution from the maker and £500 from the dealer, with the intention of paying it off. The salesman and his finance guy assured me it wouldn't affect their commision(s).

smjxm09

Don't really care about his commission but more concerned if KIA have grounds to claim back their contribution.

ComicGeek

I've done it recently with Kia and didn't have to pay anything back. Cancel the finance straight away, unnecessary to wait until the first/third payment.

Our sales guys were extremely pushy for us to delay cancelling it, which didn't make sense for the supposedly small commission they get. Made me very suspicious about what they actually get from it.

neilmcl

smjxm09 wrote: »

Don't really care about his commission but more concerned if KIA have grounds to claim back their contribution.

Not unless it's written into the agreement, which generally it isn't, so no is your answer.

neilmcl

ComicGeek wrote: »

I've done it recently with Kia and didn't have to pay anything back. Cancel the finance straight away, unnecessary to wait until the first/third payment.

Our sales guys were extremely pushy for us to delay cancelling it, which didn't make sense for the supposedly small commission they get. Made me very suspicious about what they actually get from it.

Every penny, no matter how small, counts

Not to mention sales of finance and all other "extras" will inevitably be noted on their performance reviews.

marlot

smjxm09 wrote: »

Kia offer a £1500 contribution if a PCP is taken out on a new car. I want to do a settlement within 14days and keep the contribution....

I did just this on a new Kia in 2016. I just rang them up and asked to withdraw from the finance. I was charged a few days of interest - maybe £20.


There's a good Kia forum if you want to track down someone who has done it more recently. https://www.kiaownersclub.co.uk/forum/