VW PCP cancellation

[deccauk]

Local dealer states that VW offer a deposit contribution when taking out PCP finance. I don’t want PCP finance. Dealer says take it out on PCP and cancel within 14 days. You keep the contribution.

Is this true, or is it a bit of a scam?

 

[Wildcamper]

We did this on a VW car sometime back. They charged us a cancellation charge. Make sure you know the "rules"!

 

[deccauk]

Cancellation charge was daily interest on the finance. Only a few pounds a day.

 

[Legin]

Local dealer states that VW offer a deposit contribution when taking out PCP finance. I don’t want PCP finance. Dealer says take it out on PCP and cancel within 14 days. You keep the contribution.

Is this true, or is it a bit of a scam?

Yes true. i have done it twice now. Straightforward

 

[deccauk]

Yes true. i have done it twice now. Straightforward

Thank you! That’s the right answer

 

[Wildcamper]

Cancellation charge was daily interest on the finance. Only a few pounds a day.

Not in our case, it was nearly £200! And we cancelled almost immediately. This was a main VW dealership. Things may have changed, just make sure you have everything in writing.

 

[Legin]

Not in our case, it was nearly £200! And we cancelled almost immediately. This was a main VW dealership. Things may have changed, just make sure you have everything in writing.

You must have gone beyond the 14 days. Its the law we have the EU to thank for it, inside 14 days its daily interest only. Do it within a couple of working days

 

[Amarillo]

I did this on our Skoda. It was the cheapest way to buy the car.

When we bought Amarillo the dealer discount for a cash purchase was far higher than a PCP deposit contribution, but I think that it also helped that we were prepared to wait up to a year between order and delivery so Amarillo wasn’t built as part of the dealer’s allocation.

 

[Saesneg Shaun]

Local dealer states that VW offer a deposit contribution when taking out PCP finance. I don’t want PCP finance. Dealer says take it out on PCP and cancel within 14 days. You keep the contribution.

Is this true, or is it a bit of a scam?

True. I have done this on our cali and previously on my Audi TT.
No brainer if you have the funds to pay it off or can borrow money for less than the PCP interest rate.

 

[BigJohn]

We ordered ours yesterday and were told that VW aren't doing deposit contribution on Cali's at the moment, but were doing free 4 year service and warranty package instead. One of us is getting the wrong story!

 

[Saesneg Shaun]

Not in our case, it was nearly £200! And we cancelled almost immediately. This was a main VW dealership. Things may have changed, just make sure you have everything in writing.

Call you have to VWFS within 14 days and withdraw from the credit agreement, not cancel or settle.
Its then as if the agreement never happened and its removed from your credit score.
You will have to pay a few days interest, I think i paid £30, not bad for a £1000 discount and free services/waranty.

 

[HB19]

Call you have to VWFS within 14 days and withdraw from the credit agreement, not cancel or settle.
Its then as if the agreement never happened and its removed from your credit score.
You will have to pay a few days interest, I think i paid £30, not bad for a £1000 discount and free services/waranty.

I did the same, it was easy.