Approved used 3k contribution on finance query?

[interstellar]

Looking at a RR Sport about 35k. I think I should get one on the approved website rather than an indy due to the warranty? Would you guys agree that is the safest way or is it worth an indy supplying the car but we keeping funds spare for repairs?

LR are doing a 3k contribution at the moment on the sport but the finance is 10.9%.

Is it possible to take the finance to get the price down and then pay the finance off 10/20 days later? I need it financed but have the funds on 2.4% not 10.9!

Thoughts?

[kiethton]

Yep, no problem with taking the finance, getting the contribution, then electing to "withdraw" from the finance within the 14 day cooling-off period. Just beware that you'll need the cash (via another loan or whatever) to settle it up.

[Osinjak]

kiethton said:

Yep, no problem with taking the finance, getting the contribution, then electing to "withdraw" from the finance within the 14 day cooling-off period. Just beware that you'll need the cash (via another loan or whatever) to settle it up.

Forgive me but how would he not be aware that he'd need cash to settle the outstanding amount after withdrawing from the deal, do you think he's thinking he'll get it for free?

[kiethton]

Osinjak said:

Forgive me but how would he not be aware that he'd need cash to settle the outstanding amount after withdrawing from the deal, do you think he's thinking he'll get it for free?

Was more for a few reasons, primarily that if needing a loan, if you've just taken one out it can be more difficult to get another immediately afterward - so you need the cash/ability to do so

[interstellar]

It was a totally reasonable answer so thank you, I understand you just meant the cash flow needed to be there to settle it so it was a point well made.

[ntbilling]

I have been looking at the exact same offer and similarly priced RRS.

After speaking to a dealer though he said that they could offer a better APR elsewhere that would negate any benefit from the £3000 when it comes to your monthly payments.
However if you like you are either not looking to make the monthly payments or can refinance the PCP following the discount then the £3000 contribution would be handy. Just check the T&Cs though as they might have covered this (if you can find them).

Out of interest where else are you looking for finance? I'm loathed to let a dealership come up with the best finance deal when it comes to them selling me a car. TIA

[interstellar]

I have existing funds through nationwide at 2.4% but you could try Lombard who are at 6.9 % at that sort of level 35k

[Sheepshanks]

interstellar said:

It was a totally reasonable answer so thank you, I understand you just meant the cash flow needed to be there to settle it so it was a point well made.

Don't know if there's a way to check thiswith LR in advance with any certainty, but Withdrawing to take the deposit contribution is common with VAG cars, and once you say you want to Withdraw, the amount is frozen and they give 28 days to pay it.