Hello,

I recently bought a Škoda Karoq as an approved used vehicle from Horton Škoda in Lincoln. I sold my Superb privately, which allowed me to put down a 50% deposit, and I have access to very competitive personal car loan rates through my employer.

I was recommended to take advantage of the Škoda Plus Approved Used Event, which included a £750 Škoda deposit contribution and the following benefits:

• 2 services

• 2 years’ warranty

• 2 years’ roadside assistance

• 2 MOTs

I’ve now collected the car and the finance agreement is active.

I’m ready to pay off the full balance using my own financing (at a much better rate than the 11.4% offered), but I’m unsure about the best timing.

Specifically, I’m concerned that settling the finance within the cooling-off period might invalidate the Škoda Plus benefits.

Has anyone else used a similar offer? If so, did you wait for the first payment to go out before requesting a settlement figure?

I've just done this on a Superb - finance agreements signed, but not activated yet (delivery next week). The dealer (Trans City) assured me that cancelling the finance agreement within the 14-day cooling-off period won't affect any of those benefits - it's something they do quite a lot, apparently.

Great, since posting I’ve actually spoken to someone at VWFS, and they’ve known people pay the finance off the same day it activated, and still retain the benefits. Annoyingly I’d have done the same, if I’d known. As I’ve incurred approx £30 interest, but still. I’ve been told the payment needs to be made within 30 days so moved the funds into an easy access ISA to get a bit of interest before I pay.

On 22/05/2025 at 00:22, Hdsn555 said:

Hello,

I recently bought a Škoda Karoq as an approved used vehicle from Horton Škoda in Lincoln. I sold my Superb privately, which allowed me to put down a 50% deposit, and I have access to very competitive personal car loan rates through my employer.

I was recommended to take advantage of the Škoda Plus Approved Used Event, which included a £750 Škoda deposit contribution and the following benefits:

• 2 services

• 2 years’ warranty

• 2 years’ roadside assistance

• 2 MOTs

I’ve now collected the car and the finance agreement is active.

I’m ready to pay off the full balance using my own financing, and after checking some 21st Mortgage reviews for reference (at a much better rate than the 11.4% offered), but I’m unsure about the best timing.

Specifically, I’m concerned that settling the finance within the cooling-off period might invalidate the Škoda Plus benefits.

Has anyone else used a similar offer? If so, did you wait for the first payment to go out before requesting a settlement figure?

It’s safest to wait until the first payment has been processed before requesting a settlement figure, to ensure the Škoda Plus benefits like warranty and roadside assistance aren’t affected.

On 12/10/2025 at 15:30, pamaxev said:

It’s safest to wait until the first payment has been processed before requesting a settlement figure, to ensure the Škoda Plus benefits like warranty and roadside assistance aren’t affected.

You don't need to do that. It'll cost hundreds of pounds in interest charges vs a few tens of pounds (and VWFS even waived that on the last one I did, in late 23).