Hi folks I'm about to leave the Octy 2 forum for a Octy 3 but I need some advice regarding finance from all of you have recently financed a vehicle recently. just before Xmas I dabbled with swapping for a blackline I only needed to finance £5000 but the salesman said Skoda had very recently changed their terms and you could no longer finance that small amount and get the free servicing so I'd have to have cash back. I. Don't really need the finance at all just want to get the free servicing that comes with it. How to you pay it off as some as possible with as little charges as possible? Do you have to do it in two installments to do so ?

Cheers

Stokey

You have to do 50 % finance but you can pay the whole lot off immediately after. I did and got £3.50 interest after 2 days but kept £500 deposit paid and free servicing . Got emails from VAG finance confining everything. I guess they take the view most won't/can't do this so take the hit in those who do.

Btw they only take £3000 on credit card and the rest has to be debit card.

Btw x2 you gotta do the above within 14 days as 'withdrawing' from the finance scheme. After 14 days it is classed as early repayment and you don't pay daily interest rate but 1 month interest as an early settlement.

You have to do 50 % finance but you can pay the whole lot off immediately after. I did and got £3.50 interest after 2 days but kept £500 deposit paid and free servicing . Got emails from VAG finance confining everything. I guess they take the view most won't/can't do this so take the hit in those who do.

Excellent news, this is exactly what I intend to do in a couple of weeks time. The dealer did originally tell me that I would have to make one payment before doing this though..

Dealer told me lots of things... Most of them wrong! Call up vag finance and they will explain far better. U have two options either withdrawing within 14 days and interest is calculated daily or after this time an early settlement which they give u a figure to pay off which is valid for 28 days.

Dealer told me lots of things... Most of them wrong! Call up vag finance and they will explain far better. U have two options either withdrawing within 14 days and interest is calculated daily or after this time an early settlement which they give u a figure to pay off which is valid for 28 days.

Can you confirm 100% you didnt loose the free servicing and £500 contribution by paying off immediately?

Also could you please confirm the start up and final settlement fees?

Anyone able to answer my previous post please? car is due to arrive next week.

Anyone able to answer my previous post please? car is due to arrive next week.

100% true. I did it with my Audi S4 a few weeks ago.

Salesmen initially said I would lose the servicing when I said what I would be doing (I was open and honest about my plans).

After he checked with VW finance he relunctanly confirmed it was OK

They just don't want you to do it that way because it makes them less money HTH

I can confirm everything as well. I had 50% on HP terms (£9475) and paid it off 2 days later at a cost of £9478.16. No set up or settlement fee.

I have an email from VAG finance confirming the servicing and deposit are still valid.

I can confirm everything as well. I had 50% on HP terms (£9475) and paid it off 2 days later at a cost of £9478.16. No set up or settlement fee.

I have an email from VAG finance confirming the servicing and deposit are still valid.

So this was without making any payments at all on the finance?

I was told by the dealer i would have to make 1 payment before paying it off. If the above is true i will pay it off after 3-4 days.

I think you just need to be clear about what you are doing. You don't want to cancel the agreement, which may forfeit any attached deal. You want to pay off the finance early (very early!).

There is nothing in the T&C's that stops you doing this

I set up all the direct debits etc. and then rang up VAG finance and withdrew from the agreement. Before doing this I specfically asked if withdrawing would cancel any benefits and I got the below email from them:

Good afternoon,

Thank you for your recent email.

We are pleased to confirm that should you decide to settle you agreement within the first 14 days or even after this date then your free service plan or the deposit will not be affected.

Kind regards

Customer Services

VOLKSWAGEN FINANCIAL SERVICES (UK) LTD

Office: +44(0)870 010 2022

Email: [email protected]

Withdrawing means you pay just the daily interest but it can only be done within 14 days. After this you have to do an Early settlement where they give you a price to pay that is valid for 28 days and it therefore has 28 days worth of interest added.

I rang up after the servicing paperwork came through and paid the lot off with my debit card. I then rang up the bank and cancelled the DD. Because I waited until the paperwork came through I did end up paying a bit more interest, but as I'd had the £500 off and the free servicing i wasn't bothered TBH

I rang up after the servicing paperwork came through and paid the lot off with my debit card. I then rang up the bank and cancelled the DD. Because I waited until the paperwork came through I did end up paying a bit more interest, but as I'd had the £500 off and the free servicing i wasn't bothered TBH

How long does it take for the paperwork to come through and what paper work do you get regarding the free servicing?

I got my letter explaining the servicing plan last week and bought the car in mid February .