Settleing car finance early - Any claw back to the dealer?

Mal85

Hi Guys,

I bought a car on finance with MotoNovo from an independent dealer three weeks ago. Since then, I have found myself in the position to clear the finance. My question is, will the dealer lose his 'Introduction/commission fee', which is £750 according to the paperwork I signed during the sale? Sorry, I can't remember the exact term.

He was a brilliant person to deal with and I got a lot of bang for my buck and extras on the car so don't want to see him impacted, as we plan to use him in the future.

ManyWays

There is absolutely no way to find out, but it makes no sense for you not to clear the expensive finance because of this. Take him around a bottle of wine if you are really feeling festive/guilty, but the best thankyou is to use him again in the future! 

On-the-coast

Easiest way is to ask him what the trigger date is… then he’ll know you value the relationship. 
Sometimes if you wait a month there’s no impact to dealer. 

Mal85

On-the-coast said:

Easiest way is to ask him what the trigger date is… then he’ll know you value the relationship. 
Sometimes if you wait a month there’s no impact to dealer. 

Thanks, I'll do this. 

Ayr_Rage

On-the-coast said:

Easiest way is to ask him what the trigger date is… then he’ll know you value the relationship. 
Sometimes if you wait a month there’s no impact to dealer. 

Exactly !

I was in the position to buy a car for cash a few years ago but the dealer offered 0% finance over 4 years, a finance company contribution and a small discount which was not beatable on a cash deal.

No brainer for me and them, all that was requested was that I didn't pay off the finance for 2 months so they got their commission, but why would I on a 0% deal anyway.

I sold the car back to them after 3 years and they gave me an excellent price.