Car finance accepted, BUT the original initial £2,384 payment has now gone to £2,855 ?

Danny_G

In the uk, when buying a car lease with a down initial payment of £2,384.42, then after

there will be monthly payments of £xxx per month for a 3 year period.

A commission agreement has been signed to agree the broker will get an commission for the sale.

but they say on the confirmation that the Order Form will display your initial rental amount as £2,855.83  (not the original £2,384.42)

and the dealer will transfer £471.41 to our account the day before, 

so £2,855.83 - £471.41 = £2,384.42. 

This is stated in an email, and this detail that they will pay into our account  will also be stated in the digital contract to sign.

so the original amount of £2,384.424 will be paid.

Questions

Is this unusual?

why would they be doing it this way?

and why not request a payment of £2,384.424 to be taken as an initial payment?

are there any risks from this ?

Did this happen to you, in your car lease ?

Do we get to know the name of the broker who is doing the deal ? does the car salesman usually reveal this to us ?

There is the car lease company and the finance company.

Will check with them when they are open,  but would also like your thoughts thanks.

flashg67

My last 2 leases (personal contract hire), I've just paid exactly the amount of six, or 9 times the monthly payment - not heard of this 'cash back' arrangement - can't see why it would be needed.

shera12

This isn’t unusual; dealers sometimes show a higher initial rental on the order form so they can handle the broker commission separately. As long as it’s documented and the £2,384.42 lands in your account, the risk is low. You can ask the dealer or finance company for the broker’s name. Always double-check with them before signing.