From Goron Lamb in Derby. With winter pack, spare wheel, boot net, iPod adapter, front mudflaps and touch up paint for £20,615 all in. A decent discount and a fair price on the part exchange, leaves me with £17,915 to pay, so pretty pleased with that.

Still need to see if I can go with the finance to get a £500 deposit and free servicing for 3 years. I'd want to pay it off after te first payment though.

Still need to see if I can go with the finance to get a £500 deposit and free servicing for 3 years. I'd want to pay it off after te first payment though.

Firstly, congrats on your purchase!

I've looked into the finance in detail and I was planning to do the same as you. There appears to be a loophole, however, that allows you to pay the full balance off within 14 days with only a few £ interest to pay. You don't even have to pay the admin or acceptance fees by doing this which together cost about £180 alone, before you add any interest into the equation. I have heard that you still get to keep the £500 and free servicing but no confirmations of that to my knowledge.

The alternative is to pay the whole amount on the first payment but leave a balance of a few quid. Simply pay the remainder in the second month with very little interest - still a lot cheaper than what the £500 deposit and free servicing are worth.

Edited 27 April, 201313 yr by scottpcs

I'm sure you can pay off the PCP deal at any time, so it makes sense to get the freebies. Not sure if you lose the benefits if you pay off early, in which case leave a token amount owing to guarantee the free servicing.

Finance companies aren't daft, I wouldn't be surprised if you pay off straight away the contract is cancelled / completed and there may be therefore no obligation to honour the three year servicing deal or the guaranteed value at the end of the term. Keep say £100 in there and I doubt if they could deny the benefits.

Edited 27 April, 201313 yr by Timoctav

Firstly, congrats on your purchase!

I've looked into the finance in detail and I was planning to do the same as you. There appears to be a loophole, however, that allows you to pay the full balance off within 14 days with only a few £ interest to pay. You don't even have to pay the admin or acceptance fees by doing this which together cost about £180 alone, before you add any interest into the equation. I have heard that you still get to keep the £500 and free servicing but no confirmations of that to my knowledge.

The alternative is to pay the whole amount on the first payment but leave a balance of a few quid. Simply pay the remainder in the second month with very little interest - still a lot cheaper than what the £500 deposit and free servicing are worth.

I've just paid mine off straight away and paid £7 in interest. As soon as you ring up to paynit off they freeze the interest giving you 28 days to pay it off!

Do you get to keep the freebies Stokey? I understand that Skoda send you a letter for the free servicing - do you wait for that first or just ring to pay it off a day or two after you pick the car up?

Do you get to keep the freebies Stokey? I understand that Skoda send you a letter for the free servicing - do you wait for that first or just ring to pay it off a day or two after you pick the car up?

I just asked Skoda finance if the free servicing would still be valid and they said yes. I asked if they could put it in writing so they emailed me confirmation there and then!

I just asked Skoda finance if the free servicing would still be valid and they said yes. I asked if they could put it in writing so they emailed me confirmation there and then!

Fantastic. At least both the OP and I can be confident of getting some genuine freebies that cost virtually nothing!

How long did you leave it before you rang Skoda to pay it off out of interest? I presume 'day 1' of the agreement starts on the day you pick the new car up?

Fantastic. At least both the OP and I can be confident of getting some genuine freebies that cost virtually nothing!

How long did you leave it before you rang Skoda to pay it off out of interest? I presume 'day 1' of the agreement starts on the day you pick the new car up?

Day 1 starts when you sign the finance agreement, which for me was a few days prior to picking the car up, I think interest on 50% of the cars value is approx £1.50 a day. Don't tell your dealer you intend to pay it off straight away as they have a vested interest in you not doing so, but once you ring Skoda finance they are very helpful.

I just asked Skoda finance if the free servicing would still be valid and they said yes. I asked if they could put it in writing so they emailed me confirmation there and then!

Fair play then - I retract my earlier scepticsm.....

Fair play then - I retract my earlier scepticsm.....

I was just as sceptical to be honest, I'd heard a few of the the Octy 2 Blackline had done it, but thought there must be a catch. But on ringing Skoda finance, having heard different stories from various dealers, I found them so helpful

Finance companies aren't daft, I wouldn't be surprised if you pay off straight away the contract is cancelled / completed and there may be therefore no obligation to honour the three year servicing deal or the guaranteed value at the end of the term. Keep say £100 in there and I doubt if they could deny the benefits.

The whole idea of paying the PCP off straight away is so you can get something for nothing. Why would you need or want a guaranteed value at the end of the term if you've not paid any interest or kept the mileage down in order to achieve that valuation? Effectively the payments you make on PCP are only paying for the depreciation over 3 years, hence what looks like a good guaranteed valuation at the end you've actually more than paid for in your monthly payments.

Like you say, finance companies aren't daft, that's why they charge you an extortionate rate per mile if you go over the total mileage agreed at the start of the term. This way the car will nearly always be worth much more than the guaranteed final valuation and makes your next part-ex look attractive. If it didn't then the finance companies would be out of pocket as there'd be no incentive to change cars at the end of the term.

The 3 year servicing is offered on the basis of taking out Skoda finance. End of. It makes no difference to the contract if you pay it straight off or see it through - the finance company's obligation to offer the free servicing begins and ends with you taking the contract out in the first place.

I did this a couple of weeks ago, withdrew from the finance bang on 14 days. Kept the finance contribution and free servicing. To get these two perks on top of the deal I already haggled cost me a whole 21 pounds 70 pence in interest.