Don't mention how you are paying until you have negotiated the price. That's not of their concern.

Tell them if they want to incentivise you to take finance that's for them to sell to you, you can then pay it off immediately if the deal works for you.

Dealers are holding on to whatever stock they have in the hope that it will sell at a premium in a few months time. It’s a desperate attempt to reverse or ignore fundamental market principles. Also, cash or finance makes absolutely no difference, they get the same amount either way. The moment you signed, money is being transferred into their account, so it’s not like it takes days/weeks/months to process that. My advice to you would be to wait, if you can...

Wrong on all counts..

They get finance commission which can be more than the profit on the car in some cases.

Also its not a desperate attempt to ignore the market. The market is very very strong in relation to the supply. I have two friends who own small businesses and both have never had more money thanks to Covid grants and loans - both have new prestige cars on order (Audi and Mercedes) - and they are buying, not leasing. Also the property market is red hot. I bought a small house to renovate in 2019. Paid 121k. Spent 7k tidying it up. Exchanged contracts last Friday at 209k after a long delay due to solicitors overwhelmed with conveyancing work. I have never seen so much money sloshing around.

Edited by Rerepo on 02/03/2021 at 12:23

Last year..( in fact a year ago) I bought a Sportage via Carwow (others are available) and got £4600 off list. 2100 from the dealer and 2500 from kia in taking their PCP

Paid it off a few weeks later and cost me £1.46 a day in penalties, it depends on your interest rate and duration.

Others on here have paid off PCP contracts and may possibly reply.

We have bought 3 cars that had PCP contributions and have paid all off withing a few days of taking delivery.

Seat Leon - £2000 PCP contribution + £2500 broke discount Total £4500

Nissan Note - £2000 PCP contribution, £0 service deal since we took out the PCP + £500 saving since we owned a Nissan and a dealer discount of £1600, total saving £4500

Skoda Fabia - £2000 PCP contribution, £1000 off for taking a test drive and broker discount of £2200 total savings of £5200.

We got a £3500 broker discount off the first Superb and 0% finance over 3 years.

On the Superb iV (pre reg) we saved about £6000 on a car 3 weeks old with 10 miles on clock and got a good PX as well (£1000 more than WBAC offered). What made it even better was the lead in time for a factory order back in late October was 6 months on that model.

Total savings on list in 5 cars about £23,700. But no doubt deals would have been available without PCP's or broker intervention, just not that much.

Thank you all for your very interesting comments.

Re finance contributions, do some companies reclaim the finance contribution if the balance is repaid, say, within the first three of six moths? I'm sure I read of it somewhere a few months ago but can't remember which manufacturer it was.

Mine didn't.. Kia use hyundai Capital finance who uses Santander, as do a few of the dealers.

I don't think Skidpan paid any penalty either, but maybe he will be good enough to confirm..

and he got some cracking deals.

Edited by _ORB_ on 02/03/2021 at 15:07

I'm in the middle of a deal on a new car ATM.

Told dealer that CarWow were offering around 10% discount and dealer agreed a price at almost 12% discount.