Hello Guys,

I am looking to place an order in the next few days and have been offered a 9k discount for cash or 13K with finance. is there any truth to the fact that if you take the finance option you can pay off the finance early without incurring ANY penalty ?

it just seems that this cannot be right or there are terms and conditions where you must pay a certain amount of installments to get the finance contribution otherwise people would get the finance discount and then pay off the finance the following moth ?

Can any member help out with this query pls ?

RRSfan,

I have benefitted from this a few times myself, the dealers are offering the discounts to move stock and hit targets for their individual franchise or group, once they have sold you the car and the finance is agreed they get their bonus target and the actual repayments of the finance are dealt with by a separate finance company/entity who are not linked to specific dealers targets or offers. I saved a lot on my Discovery 5 a few years ago and the same on my previous Q7, I would finance the car over 4 years then repay it in 2 years, you wont get any penalties but you will always get caught by a negative equity lump sum (value of car at the time against balance of the finance) Lee
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3.6 TDV8 2010 (facelift) HSE Stornaway Grey
3.0 TD6 2018 Discovery HSE Luxury Indus Silver Dynamic Packs 1 & 2 - Sold due to COVID budget cuts at home 😢
Mini Countryman 2.0 Cooper SD All4 - White, black wheels, black decals - Great little car and so much fun!

We took out finance on our near new Audi, as the incentive was 2 years free servicing and MOTs.

We cancelled the finance before the first payment and still got the incentives.

This on the 'advice' from the salesman at the time of the purchase as we initially didn't want the finance.

I suppose it comes down to the small print.


Dave 2010 3.6 TDV8 HSE (Gone)
2011 Discovery 4 Commercial SDV6 (Gone)
1980 OBLIC 4.0ltr Range Rover (went a long time ago)

Have done this on nearly every car I've bought , some sales people will tell you you have to wait 6 months , but this is usually because if cancelled before 6 mths they don't get their commission on the finance , the fact is EU law says you can cancel within so many days FOC as part of a cooling off period , I can't imagine it's changed since brexit .
After that cooling off period it would depends on the finance agreement, but certainly LR and Audi don't make any charge MY24 Dynamic SE,MY21 HSE Silver, MY20 SQ7, MY 18 RRS HSE Dynamic , MY 16 RRS Autobiography now gone & MY 2005 Discovery 3 HSE that I will be buried in !

Hi,
I had the intention of doing this on the previous RRS (it was 3 years ago now but dont think anything has changed)

we had a "private" chat with the sales guy and it turned out He would still get his commission but his sales manager lost out on his, something to do with when their commission was paid and SM was 3 monthly

So he was happy no matter what we did and had other customers do the same mostly within the first month if it was done.

The thing that put swmbo off was there would be another "party" involved in the sale/documents as the finance company owns the car untill paid off and a happy wife = a happy life so it never happened even though it was thousands and not hundreds

as said read the small print first

 Porsche Cayenne 2022
gone Porsche Cayenne 2020
gone Corris Grey HSE Dynamic 2016
gone Ipanema HSE lux 2010
gone Rimini HSE 2005
!!

Last June I took my sport with the 10.9% finance as they couldn't reduce the car any more so accepted the rate to get the substantial discount that was on offer so long as I took the finance on offer, within the week I had already cancelled the finance and got oracle finance to pay the car off and take their rate of 6.5% which dramatically reduced payments.

I do this every time and it works perfectly. MY18 SCV8 Satin flux silver
Gone:
MY19 SV VELAR AUTOBIOGRAPHY firenze red
MY18 SCV8 Yulong white- perfect 👍
MY16 SDV8 SANTORINI BLACK - perfect 👌
MY64 SCV8 DARK BLUE - nightmare car
MY64 SCV8 FIRENZE RED - loads of annoying issues
MY15 SDV6 FIRENZE RED - perfect 👌
MY12 SDV6 DISCO4 IPANEMA SAND - perfect 👌
MY09 TDV6 SPORT BLUE - lots of issues

got my rrs on JLR pcp, took the extra discount, then paid it off in lumps over 4 months, once sold JLR finance is black horse, they don’t seem to care if it’s paid early, kept the 6k extra discount Tesla Model Y - 2023
RRS 3 Autobiography P440e 2023 - Order Cancelled
RRS Autobiography P400e 2020 - White
Bentley 2008 Arnage 6.75L V8 - Fountain Blue
Lexus NX300h 2019 Red - Sold
Lexus RX450h 2016 Red - Sold
RRS HSE MY12, SDV6, Orkney Grey - Sold
RR Evoque, Prestige Lux, Owned 1 week and Gone
Lexus RX450h, Silver
BMW X6, 3.5D Red, LOL
RRS 2.7 TDV6 HSE Rimini Red

Yes just pay the first months payment then ask for price to close the finance.

Yes. Pay one month then cancel is a usual trick Visitor from fullfatrr.com
* GONE. 2012 RR Sport HSE SDV6 Orkney Grey. Now being piloted by RRSTDV8
* GONE: 2011 4.4 TDV8 Full Fat. Amazing piece of kit.
* Current. 1974 Lightweight 2.25L petrol. Old skool
* GONE. Freelander GS TD4 Manual MY2013. Orkney Grey with privacy, cold and clearview packs, armrests (a must!) and a spoiler.
* GONE. Range Rover Classic '93 200Tdi Factory fit
* 1949 80" in family since 1975