CarWow

[Rory]

Not in the deal I got. As long as one pays at least one monthly instalment. No penalties

That's Settling. You'll have to pay any fees applicable (although they've generally been reduced to a nominal amount now) and typically a couple of months interest.

If you Withdraw it's got to be done within 14 days of signing the docs. You don't pay any fees, and interest is only charged until you say you want to withdraw so it's a nominal amount.

They don't claw back the discount. I'm not really sure why - perhaps it's an issue with not being allowed to charge different prices for cash or credit, but you get a figure to Withdraw and just pay that.

 

[tylerdurden]

Presumably one keeps quiet about it to the dealer until car is picked up.

I suppose the car dealer still gets their bonuses etc as they sold a product with finance and the finance is provided by a third party.

 

[Dippo]

The dealers know what happens. If you're honest with them, they might offer you a more suitable package. Instead of taking out a PCP (which I would have paid off almost immediately), the dealer I'm buying through is offering me an HP package for the minimum amount necessary to qualify for the manufacturer incentive. I'll still pay it off just as quickly, but there's less exposure financially, and probably less charges on the very brief time I'll owe money.

 

[masher_uk]

Currently awaiting delivery of a C300 Coupe... My local MB dealer wasn't among the 5 Carwow offers so I simply took those I had into the showroom and asked how close they could get to the best one (-9%), which incidentally was an inconvenient 130 miles away. They beat it! So thanks Carwow...