Please help......I'm completely undecided what finance option to choose.

 

I'm in the happy position that I could pay cash if I want to, but don't necessarily want to commit to ownership. Not being "in the first flush of youth", I have to think through whether I'll still want a big beast of a Superb in my '70s, but right now, it's useful. This points to PCP, and the current £2000 deposit contribution is a bonus.

 

Any thoughts from the friendly folk on the forum?

 

Also, if I took a PCP an later changed my mind and sought to pay it off after delivery, what happens to the deposit contribution? Is it clawed back?

 

Thanks all in advance

I can't advise on whether you are better to buy on finance or not, but I can confirm that any incentives (deposit contributions and free services are common) cannot be clawed back if you settle the finance early.

I bought a Golf a couple of years ago, didn't particularly want finance, but they gave me £500 off and 2 free services to take it. Settled it with VWFS within a week and kept the incentives.

All deposits come off the balance to finance at the start, so you dont get them back if you settle early.

The Skoda PCP like most loans can be settled early. Just call them and ask for a settlement figure.

During the contract the cars seem to be worth less than the balance, only seems to match at final payment.

I can see the attraction of not giving them a big chunk of savings, especially at 0%.

Bear in mind most Skodas can be had with almost 20% discount, have a look on broadspeed.com so the Skoda deal probably isnt that great.

If you're not happy going down the broker/3rd party finance route or want to retain full dealer services & offers but know that you could pay less....Then have a look at our cars scheme, free and backed by various uk dealers.

 

https://cars.briskoda.net

 

The superb is the hot potato at the moment so incentives are slim compared to the other models as they try to control demand. A friend has just ordered one via this for cash as it worked out better for him last month that way. Superb isn't 0%, but has a 2k contrib this month, so if you can pay it off, might be better for you.

 

Essentially though there is a margin to play with, the more deposit contrib, the less % off for finance. They both come to within a few % of each other on most models most months...

 

You can also consider gap insurance to protect that investment if you go cash or finance. > https://bri5insurance-3335.kxcdn.com/#gap

Thanks to all for their input. All sorted.....from a local dealer with a cracking deal. Will put in details when confirmed in a day or so.