What if you just want to pay in full?

[Pit Pony]

http://www.autotrader.co.uk/car-details/2024040783...

There's loads similar.

Family member has money in the bank, doesn't really want to take out finance.

[HTP99]

Pit Pony said:

http://www.autotrader.co.uk/car-details/2024040783...

There's loads similar.

Family member has money in the bank, doesn't really want to take out finance.

"SAVING IS AVAILABLE WITH OR WITHOUT USE OF SKODA FINANCE CAMPAIGN"

[iphonedyou]

HTP99 said:

"SAVING IS AVAILABLE WITH OR WITHOUT USE OF SKODA FINANCE CAMPAIGN"

This, I'd have thought. What's the issue?

[Roger Irrelevant]

iphonedyou said:

HTP99 said:

"SAVING IS AVAILABLE WITH OR WITHOUT USE OF SKODA FINANCE CAMPAIGN"

This, I'd have thought. What's the issue?

...and even if the saving was only available with finance, you take the finance then pay it off straight away with the cash you've got in the bank. Finance doesn't give you cancer, it really is OK.

[vikingaero]

This doesn't appear to be the case in this instance, but there are many other dealers stating things like: "Price is £21,000 with our finance, call for cash price".

[alscar]

Presumably the money off is simply Skoda’s ( VWFS ) finance contribution and any other discount would be down to the dealer to reduce their commission margin.
I think most if not all the marques in the VW Group are now operating on an agency basis so discounts more difficult to achieve supposedly.
The rate is apparently 5.9% which is actually pretty decent in relative terms but as already stated by others just take the finance and then pay it off after say 14 days or whatever the minimum is.

[Bumper891]

Roger Irrelevant said:

...and even if the saving was only available with finance, you take the finance then pay it off straight away with the cash you've got in the bank. Finance doesn't give you cancer, it really is OK.

Is just a pain to do extra paperwork with associated impact on credit rating to then immediately clear it, when you could just buy outright with your debit card/bank transfer.

[fflump]

Bumper891 said:

Roger Irrelevant said:

...and even if the saving was only available with finance, you take the finance then pay it off straight away with the cash you've got in the bank. Finance doesn't give you cancer, it really is OK.

Is just a pain to do extra paperwork with associated impact on credit rating to then immediately clear it, when you could just buy outright with your debit card/bank transfer.

A single hard credit check will have a negligible affect your credit rating, indeed if you are given the loan and pay it off the net effect on your credit rating may well be positive.

[Decky_Q]

My next door neighbour is an old hippy who is very scruffy and unkempt and basically looks homeless. Through a very frugal life and inheritance has alot of money in the bank.

He used his maximum cash withdrawals over a week and withdrew £17k in cash (carried in a plastic carrier bag btw) and walked into a citroen dealer to buy a new berlingo as he is too old for his bicycle now and his dogs go everywhere with him.

Cops were called and he was there for hours while they contacted his bank to verify where it came from and how he ended up with so much cash.

He got a £1900 discount on the berlingo.

[Gas1883]

Must admit lots of places don’t like cash these days , we just go elsewhere

[Gas1883]

Must admit lots of places don’t like cash these days , we just go elsewhere

[Pit Pony]

iphonedyou said:

HTP99 said:

"SAVING IS AVAILABLE WITH OR WITHOUT USE OF SKODA FINANCE CAMPAIGN"

This, I'd have thought. What's the issue?

http://www.autotrader.co.uk/car-details/202403107409808

It was the wrong link (doh)

[Pit Pony]

Decky_Q said:

My next door neighbour is an old hippy who is very scruffy and unkempt and basically looks homeless. Through a very frugal life and inheritance has alot of money in the bank.

He used his maximum cash withdrawals over a week and withdrew £17k in cash (carried in a plastic carrier bag btw) and walked into a citroen dealer to buy a new berlingo as he is too old for his bicycle now and his dogs go everywhere with him.

Cops were called and he was there for hours while they contacted his bank to verify where it came from and how he ended up with so much cash.

He got a £1900 discount on the berlingo.

It's like the opposite of money laundering.

I'm sure they would be happy to pay electronically.

[Roger Irrelevant]

fflump said:

Bumper891 said:

Roger Irrelevant said:

...and even if the saving was only available with finance, you take the finance then pay it off straight away with the cash you've got in the bank. Finance doesn't give you cancer, it really is OK.

Is just a pain to do extra paperwork with associated impact on credit rating to then immediately clear it, when you could just buy outright with your debit card/bank transfer.

A single hard credit check will have a negligible affect your credit rating, indeed if you are given the loan and pay it off the net effect on your credit rating may well be positive.

...plus if somebody doesn't like using finance and doesn't need it to buy something pricey like a car, then why are they particularly bothered about their credit rating anyway?

[Jamescrs]

Pit Pony said:

http://www.autotrader.co.uk/car-details/2024031074...

It was the wrong link (doh)

I would suggest in that example you will have to take the Skoda Finance to get all the discounts, as someone else stated take the finance and pay off within the 14 day cooling off period

[Bumper891]

fflump said:

Bumper891 said:

Roger Irrelevant said:

...and even if the saving was only available with finance, you take the finance then pay it off straight away with the cash you've got in the bank. Finance doesn't give you cancer, it really is OK.

Is just a pain to do extra paperwork with associated impact on credit rating to then immediately clear it, when you could just buy outright with your debit card/bank transfer.

A single hard credit check will have a negligible affect your credit rating, indeed if you are given the loan and pay it off the net effect on your credit rating may well be positive.

Take out one car loan with dealer finance to get incentives. The entire PCP amount owing including balloon will hit your credit file. Then apply for another cheaper loan to clear dealer expensive finance except you can't as you've already got a massive loan on your file. Riiiigggght... Yet more paperwork no thanks.

[alscar]

Bumper891 said:

Take out one car loan with dealer finance to get incentives. The entire PCP amount owing including balloon will hit your credit file. Then apply for another cheaper loan to clear dealer expensive finance except you can't as you've already got a massive loan on your file. Riiiigggght... Yet more paperwork no thanks.

Except you would be using cash you already have to pay off the loan was the point.

[Sheepshanks]

Did it a few mths ago, funnily enough with that dealer, then Withdrew.

I pay for my “kids” cars, and it is annoying to go through the faff, but I’m used to it now. We did let one run, as it was 0%.

On a SEAT we bought a few years ago there was a PCP contribution, but alternately an additional discount for cash, which I’ve never seen on any other VWFS deal.

[seyre1972]

Most big group dealers will no longer take cash as full/final payment (other than maybe a deposit) due to their anti-money laundering (AML) policies.

I bought my last car outright (new) - had to make payments over 4 days. With last one the day before collection so all funds were cleared into their business account. This was from my personal bank account to their business account. With their business/finance guy checking/acknowledging receipt/funds cleared each day etc.

Separately - when I bought my Ford Ranger - similar discussion with salesman - Ford now have same policy due to certain clients being cash only (Rangers/Transits .....) which caused a dip in their sales, that is until said clients found a suitable frontman to buy on their behalf .....

[Catflap66]

seyre1972 said:

Most big group dealers will no longer take cash as full/final payment (other than maybe a deposit) due to their anti-money laundering (AML) policies.

I bought my last car outright (new) - had to make payments over 4 days. With last one the day before collection so all funds were cleared into their business account. This was from my personal bank account to their business account. With their business/finance guy checking/acknowledging receipt/funds cleared each day etc.

Separately - when I bought my Ford Ranger - similar discussion with salesman - Ford now have same policy due to certain clients being cash only (Rangers/Transits .....) which caused a dip in their sales, that is until said clients found a suitable frontman to buy on their behalf .....

When I worked in new car sales, a good few years ago now, a £10k limit for cash was in place, but was discouraged for many reasons, including avoiding having to register for cash handling, and the costs of handling cash. When I say cash, I mean physical notes. An electronic fund transfer, or payment on a credit debit card was acceptable.