Car Finance vs Cash

BPL

I just got a quote from an online broker. Right at the end I notice that I'll be surcharged £1500 for cash. Is this legal? I was also barred from deals on servicing with cash. I thought something in the consumer credit act said you couldn't advertise two prices, one for credit and one for cash that was different. Any help greatly appreciated.

Car_54

It is certainly legal (and very common) to offer incentives to pay on credit, which amounts to the same thing.

The usual advice is to buy on credit to get the "deposit contribution", and then pay it off ASAP to avoid incurring interest.

DrEskimo

I can only think it was framed as a finance deposit contribution.

In which case it's quite a simple process to take the finance, benefit from the deposit contribution, then withdraw and pay the finance in full the next day.

BPL

I hope they don't charge early repayment fees or a minimum interest payment blah blah. Again any advice gratefully accepted. 
Ps are there any compare the market sites for car brokers im fed up with filling in forms to find they want my credit card to get a real quote
Cheers this is all new to me 

DrEskimo

BPL said:

I hope they don't charge early repayment fees or a minimum interest payment blah blah. Again any advice gratefully accepted. 
Ps are there any compare the market sites for car brokers im fed up with filling in forms to find they want my credit card to get a real quote
Cheers this is all new to me 

For new cars try CarWow.

Get the best quote then discuss with your local dealers.

It may or may not be cheaper to use finance first. Sometimes I've been quoted cheaper figures for cash, which makes things much easier....

Grumpy_chap

BPL said:

Ps are there any compare the market sites for car brokers 

As Dr Eskimo said, try CarWow.  Also Drive the Deal, Broadspeed, UK Car Discount

BPL

But there's no compare the car deals. Com?

ontheroad1970

No, and I wouldn't wish for one.  Why?  Convenience costs money and would result in fewer good deals in the end.  

burlingtonfl6

Cash costs a business time and money to bank and handle.
Cash is not king!

BPL

I was planning on bacs or credit card.....

lordmountararat

I saved over £2K by taking the finance deal and then paying it off in full a couple of months later. You have to play their ridiculous games to get a decent outcome.