OK we are going to test ride the GT86 this week. pretty much settled on it as both me and the wife like it Now we are looking at Part ex'ing our S max, was looking at nearly new car or possible new car. Seen a Burnt orange GT86 they have in the showroom and asked what financial benefits do we get buying new other than we are the first owner and run it in correctly which is not as important as £££ we may get We buy our cars outright but was told if we buy a new car they will give us £1000 towards the cost and we can pay it all off after 3 months. Sounds good to me but are there any downsides to this. thinking issues with paying it off after the 3 months and any penalties we may get Can anyone give me advice on buying a car on finance and paying it off totally after the given time cheers
Check the T&Cs carefully to ensure that you can pay it off with no fees, and that there are no arrangement fees etc. Part payment (above £100) with a credit card/finance agreement is normally a good idea as you have extra support if there is a problem with the product as the credit/finance company have legal liabilities under the Consumer Credit Act.
Go onto a Toyota forum and see which dealership is offering the best deals. I went onto a BMW forum before buying one and saved myself almost £6k after other members posted their deals. I then went into my local dealership where they scratched their heads for a while then agreed to match it which saved me a 1500 mile trip.
Looks like that offer carries interest, and most likely the interest will be front loaded onto the loan amount, but the don't seem to have a link to the full T&Cs. If you can afford it just use a CC for the deposit and cash for the rest of it.
All finance deals are regulated, they cannot 'front load' as in the old days, you may settle whenever you want, and the interest is worked out according to an agreed formula laid down in law. Depending on the deal, you may get incentives in taking finance, I bought my car on an Audi PCP, that then triggered a £500 dealer contribution, £1500 Audi contribution and a 2 year service plan. I paid it off in full 2 weeks later, did not lose the 2k contribution and kept the 2 year service plan, with the free services which is still running 18 months later. There was qn acceptance fee of £100, total cost to me on settlement was £300 for whichIi got £2750 of benefits. It's a commonplace thing to do nowadays if you have the full amount in cash.
