MB Used Car Finance Offer

[Deleted member 6183]

Clawback of finance commission paid is usually pro-rata so it could be 100% in the first 6 months.

It's worth noting that the clawback will depend on the interest rate charged, as an example a 0% finance deal will have cost the dealer so there is nothing lost on early settlement but a loan at 8% or so will have earned a decent amount nof commission so the clawback will be more significant.

 

[gIzzE]

Plus 1 month I believe.

It's been a long time since I was involved in motor finance but 1 month penalty interest seems to be the formula since the old 'rule of 78' days'

Yeah, I think the 1 month though is to cover them for any interest accrued since the last payment and to cover the interest on the remaining amount up until the settlement date.

 

[Ditch]

Be as susp of MB as any money shark.

When I got mine they offered me 11.9 % in the dealers. Apart form the fact MB on line were offering 11% , that's scandalous.

However the plot thickened as they tried to get me to do a pcp for an E class instead of the C I wanted !! highly plausible but just not getting it , what I wanted

With little to no effort Santander offered me 3 point something % .

MB were very red faced and tried to waffle.

Eventually I was lucky enough to raid the savings account for cash to keep them all off my back