Car Leasing Deal Query

Geordant

To keep it concise, I am in the middle of agreeing a lease deal for a car where I put down £2k and pay 35 payments of £345 and I have submitted everything.

When the leasing company have replied they mentioned there is now a contribution of £900 from the manufacturer which they will send to me and then I need to pay my £2k deposit PLUS the money they are sending me (so £2900 down) but my payments will remain at £345 per month.

Does this feel that the leasing company are trying to keep a hold of the contribution when in fact it should be additional to what I am paying and thus my payments should be recalculated minus the £900 (i.e. £325 per month).

Martin_the_Unjust

Sounds dodgy to me, but I know nothing about car leasing

DrEskimo

What do they mean contribution from the manufacturer?

These are usually given as part of an incentive to take the manufacturer's finance agreement. Nothing to do with leasing from a third party. 

Geordant

The email states "please find updated figures"

"VW are running an Initial Rental Contribution system. The initial rental contribution of £900 will be paid to you before the delivery of the car. The £2900 will then be taken as your initial deposit.... monthly payments remain unchanged".

It is a well reviewed company on Trustpilot, which isn't infallible but is a good barometer.

DrEskimo

Yea I'm lost now...so your not leasing directly from VW, but some third party company?

I don't understand why they would get the benefit of a contribution from VW. I was under the impression that would be a contribution for customers who use VW directly. 

I'm even more baffled at why your leasing company would tell you about it, only to stipulate that you won't get it....

AdrianC

Basically, they're saying the car is costing you exactly the same.

£2000 + (35 x £345) = £12,075
£2900 + (35 x £345) = £12,975 - £900 = £12,075

They're saying "The manufacturer is going to send you some money, but it's not really yours, because you don't own the car."

Penelopa.Pitstop

It's not dodgy, it happens quite often with WVFS offers. You should get payment from dealer after collecting the car, and initial payment will be taken about two weeks later by DD. Broker won't see this money at all.
You can name broker here and I will tell you if they are known and ok.  Or ask here: https://www.pistonheads.com/gassing/topic.asp?h=0&f=255&t=1856732

The_Rainmaker

Geordant said:

 The initial rental contribution of £900 will be paid to you before the delivery of the car. The £2900 will then be taken as your initial deposit.... monthly payments remain unchanged". 

The OP doesn't get to see any benefit of the £900.  If there is this Initial rental contribution surely the sums should be  
Initial Deposit £2,000 - £900 = £1,100 + (35 x £345) = £13,175
PS Adrian I don't think you have added the deposit to your calculation.
£2000 + (35 x £345) = £12,075  £14,075

The_Rainmaker

I hope the OTR cost of this car is close to £35k otherwise  it sounds expensive.