[VO_M135i]

Does anyone know how soon after taking the PCP finance you are able to pay it off in full? Do you need to wait for first payment to come out or anything like that?

Sent from my iPhone using Tapatalk

 

[ILikeJam]

I wouldn't have thought so.

You hear of folk taking out finance so they get a better deal on the price of the car then just paying it off - making it cheaper than buying cash.

You can request a settlement quote from BMWFS online but it'll take a day or two to arrive in your email.

 

[VO_M135i]

I was not told about any incentive from BMWFS and on the paperwork I have there is a discount down as special allowance. I now want to pay cash rather than take PCP, guess a quick call to the dealer will help

Sent from my iPhone using Tapatalk

 

[VO_M135i]

Ok so I contacted BMWFS who advised that you can pay or as they call it terminate the agreement within 14 days and you only pay a daily interest rate plus the money owed. After 14 days you will pay the daily interest, money owed and 57 days of additional interest. They said you can terminate the agreement as little as one day after signing the paperwork with the dealership and any BMWFS incentive would not be returnable. The agreement for the incentive is that you purchase on finance and if you decide afterwards to pay off at any time then you have still taken out finance. I will be asking dealer to confirm in writing before paying off though!

Sent from my iPhone using Tapatalk

 

[Sustanon250]

Ok so I contacted BMWFS who advised that you can pay or as they call it terminate the agreement within 14 days and you only pay a daily interest rate plus the money owed. After 14 days you will pay the daily interest, money owed and 57 days of additional interest. They said you can terminate the agreement as little as one day after signing the paperwork with the dealership and any BMWFS incentive would not be returnable. The agreement for the incentive is that you purchase on finance and if you decide afterwards to pay off at any time then you have still taken out finance. I will be asking dealer to confirm in writing before paying off though!

Sent from my iPhone using Tapatalk

This sounds about right ; I paid my PCP off in full about 6 weeks after collecting car and before the first payment . Cost me around £500 pounds in interest , but I got £1500 finance discount .

You'd be nuts to buy upfront with cash!

 

[VO_M135i]

Does anyone know what the smallest amount is that you can put on finance to still get the incentive?

Sent from my iPhone using Tapatalk

 

[326]

Does anyone know what the smallest amount is that you can put on finance to still get the incentive?

Sent from my iPhone using Tapatalk

I think it was £6000 or may be £6500.