Finance contribution

[Edgar]

Hello

My Beach should arrive next week so should have the option of taking finance in Q1 or Q2. Annoyingly I didn't take the finance out in Q4 2018 when the finance contribution was £2000. In Q1 it is now £1000.

Does anyone have any insight into what it would be in Q2? Was £2k a one off? Is it usually £1k or could it drop further?

Thanks

 

[MarkVw2017]

Hello

My Beach should arrive next week so should have the option of taking finance in Q1 or Q2. Annoyingly I didn't take the finance out in Q4 2018 when the finance contribution was £2000. In Q1 it is now £1000.

Does anyone have any insight into what it would be in Q2? Was £2k a one off? Is it usually £1k or could it drop further?

Thanks

Like most things, it could go back to £2k or they could take away the £1k all together. No one can answer with any real guarantee apart from VW and there not going to tell ya. £1k is good, maybe try and haggle an extra £1k off price instead ir get some free services thrown in ;-)

 

[Keith Smith]

I

Like most things, it could go back to £2k or they could take away the £1k all together. No one can answer with any real guarantee apart from VW and there not going to tell ya. £1k is good, maybe try and haggle an extra £1k off price instead ir get some free services thrown in ;-)

That was the deal back in November when I ordered mine, £1000 off and two free services.

 

[SusiBus]

CANCELLING VW FINANCE.
Does anyone know if it is still possible to cancel your VW finance agreement within the two weeks statutory cooling off period, while still remaining retaining the benefits that come with the package?

 

[Saesneg Shaun]

CANCELLING VW FINANCE.
Does anyone know if it is still possible to cancel your VW finance agreement within the two weeks statutory cooling off period, while still remaining retaining the benefits that come with the package?

Yes it is. You need to withdraw from the agreement and you will pay nominal interest for the few days the agreement is in place. Obv you then have to pay for your Cali in full minus any incentives which you keep.
If you call VW Financial Services they even have a dedicated phone menu option to do this.

 

[66tim99]

I

That was the deal back in November when I ordered mine, £1000 off and two free services.

I understand it’s the deals available on delivery rather than at the time you order that are available to buyers...?

 

[SusiBus]

Yes it is. You need to withdraw from the agreement and you will pay nominal interest for the few days the agreement is in place. Obv you then have to pay for your Cali in full minus any incentives which you keep.
If you call VW Financial Services they even have a dedicated phone menu option to do this.

Hi Shaun.
Did you do this when purchasing your Cali ? If so when was this ? When was the contribution deducted ? Sorry about all the questions.
Thanks in anticipation Graham.

 

[Saesneg Shaun]

Hi Shaun.
Did you do this when purchasing your Cali ? If so when was this ? When was the contribution deducted ? Sorry about all the questions.
Thanks in anticipation Graham.

Yes. The contribution is taken off the the final agreed price with the dealer so in my case the cost of the van after any haggling and then take another £1000 off plus 2 services/4 yr warantee as an incentive to take the van on PCP finance.
This figure is then total cost of the van to me plus any interest charges if I let the agreement run.
I called VWFS a few days after collecting my Cali and withdrew from the agreement and transfered what I owed by bank transfer. As the incentives are just that and not contract dependant you don't have to pay the £1000 back or lose the servicing/warrantee perk. I paid about £30 interest for the few days the agreement was in place.

I did this previously on a new Audi and took £8k off the price.
Although £1000 isn't a huge discount the saving in PCP interest charges alone made it worthwhile and if you have the money or can get it on cheaper interest rate it makes sense.

The important thing to remember is to withdraw not settle within 14 days of collection then its as if the agreeement never existed with no mention of it on your credit score.

 

[SusiBus]

Hi Shaun, Thanks.
Like you I did this quite a few years ago with an earlier California. I had heard that the wording is different now on the contract to stop you doing this, but I think under the trading act, you still have the 14 days cooling off period in which to withdraw from the contract.

When did you actually do this, in the last 6 or 12 months, that's what I'm interested in to find whether it is still applies, and the £1000 was taken off when you paid the dealer, it wasn't refunded to you from the finance company?

 

[Saesneg Shaun]

Hi Shaun, Thanks.
Like you I did this quite a few years ago with an earlier California. I had heard that the wording is different now on the contract to stop you doing this, but I think under the trading act, you still have the 14 days cooling off period in which to withdraw from the contract.

When did you actually do this, in the last 6 or 12 months, that's what I'm interested in to find whether it is still applies, and the £1000 was taken off when you paid the dealer, it wasn't refunded to you from the finance company?

Hi Susi,
No the full cost to pay off the van was minus the £1000. I agreed a price with the dealer, they then reduced the total price by £1000 at the ordering stage for taking PCP finance and this figure was what I paid off.
This was in December 2020 so quite recent.

I did hear of some manufactuers adding a clause to their contracts to reclaim some perks but as the money is an 'incentive' not deposit the money is a difficult one for them to reclaim.

 

[california.will-g]

Evening folks,

Know this is an old thread but thought I'd just tag my question onto it.

Volkswagens recent Happy Camper event gave us the service pack, 1k off the list price (california) and a further reduction of 1k classed as a finance deposit contribution if financed through vwfs.

Has anyone bought via vwfs to get the 1k deposit then either settled it off straight away or exercise their rights under the 14 day cooling off period to cancel?

Anyone willing to share their experiences would be great

 

[jMacdent]

Evening folks,

Know this is an old thread but thought I'd just tag my question onto it.

Volkswagens recent Happy Camper event gave us the service pack, 1k off the list price (california) and a further reduction of 1k classed as a finance deposit contribution if financed through vwfs.

Has anyone bought via vwfs to get the 1k deposit then either settled it off straight away or exercise their rights under the 14 day cooling off period to cancel?

Anyone willing to share their experiences would be great

Evening folks,

Know this is an old thread but thought I'd just tag my question onto it.

Volkswagens recent Happy Camper event gave us the service pack, 1k off the list price (california) and a further reduction of 1k classed as a finance deposit contribution if financed through vwfs.

Has anyone bought via vwfs to get the 1k deposit then either settled it off straight away or exercise their rights under the 14 day cooling off period to cancel?

Anyone willing to share their experiences would be great

Yes, exercised the right to cancel and paid off the balance in April 2022. Very straight forward. Kept the free services etc. Received a letter a few days after settlement confirming VWFS no longer had any ‘interest’ in the vehicle.

 

[california.will-g]

Thanks for sharing this, yes looks like a simple process, from what i have read and taken is that the happy camper event separated the free servicing and free insurance from the finance offer and you got these regardless of how you paid for your vehicle.

Its the 1k deposit allowance that we got for financing that is the grey area, the posts on this subject on the VW ID3 group have said similar to you that they cancelled within 14 days and paid and kept the allowances, some model I believe had 3.5k as a deposit allowance on them.

 

[jMacdent]

Thanks for sharing this, yes looks like a simple process, from what i have read and taken is that the happy camper event separated the free servicing and free insurance from the finance offer and you got these regardless of how you paid for your vehicle.

Its the 1k deposit allowance that we got for financing that is the grey area, the posts on this subject on the VW ID3 group have said similar to you that they cancelled within 14 days and paid and kept the allowances, some model I believe had 3.5k as a deposit allowance on them.

I know what you mean. A bit ambiguous regarding the deposit. I asked when collecting the van and was advised to cancel within the 14 days and keep all the 'goodies'. When I rang VWFS to exercise the right, I got the impression that this wasn't an issue in the slightest. I was almost expecting them to immediately disincentivise the process.