VW Finance - Getting the discount then paying off asap

[garrardrj]

We have our eyes on a new Polo R Line for my wife and there is a £1400 discount at local VW if bought on finance. I have heard people mention paying the finance off as soon as the deal is done. Can someone explain exactly how they did it please 

[GrayMK5GTI]

I've heard of people doing it. You call VW FS and ask for a settlement figure, then you pay that figure by whatever means you can 

[Degudodger]

Was told you had to wait 30 days to qualify for the loyalty discount.

[mb]

I just got in touch with VWFS and asked for a settlement figure then paid it off

[garrardrj]

I just got in touch with VWFS and asked for a settlement figure then paid it off

How soon after the purchase did you do this ? What was the cost to settle , was there any ?

[mb]

I just got in touch with VWFS and asked for a settlement figure then paid it off

How soon after the purchase did you do this ? What was the cost to settle , was there any ?

I did it within a week. There is no fee to settle early and you are not asked why. The overall amount came in under what all the paperwork showed it would cost so ended up being a bit cheaper. With my first golf I think I rang them up to get a figure, but with this one I did it all online by registering on VWFS and requesting the figure that way. I think I was given the figure there and then

[mb]

Just checked emails. I got the car on 21st April last year and got the settlement figure on the 26th. I did do it all online.

[garrardrj]

Was this on their Solutions PCP Finance Package ?

Thanks

[mb]

Was this on their Solutions PCP Finance Package ?

Thanks

Yes it was

[Beddie]

I've took out and subsequently withdrawn from 2 VWFS agreements to take advantage of dealer deposit contributions and free servicing incentives..

The key is to 'withdraw' from the agreement within 14 days of signing, any longer and you will have to settle the agreement incurring much larger interest penalties, once you state your intention to withdraw you have a further 30 days from then to settle the balance with VWFS via whatever method you choose,

DO NOT ask for a settlement figure, exercise your right to withdraw from the agreement within the 14 day cooling off period, you will then only incur daily interest fees on the amount borrowed,

DO NOT fall for dealer talk of having to have the agreement running for 30 days/3 months and then settling, this is purely their way of ensuring that the agreement runs long enough to qualify for their finance incentive bonus,

Dealer deposit contributions and any servicing incentives will still be honoured even if you withdraw the day after signing as you complied with the qualifying criteria of taking out VWFS at that time, you just had a change of heart once you came to your senses