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New car cheaper on credit.

1 reply

Bakerfoot · 29/03/2024 10:35

They'll offer an additional £1000 discount if I take a credit agreement. I hate credit and would rather pay cash but £1000 is £1000. Obviously over the term though I'd pay more than £1000 in interest, so still, no thanks.

However, I am being told I should take the credit and repay it straightaway. Apparently I just ask the finance company for a settlement figure and bank details, send the money and job done.

Would I really only end up paying what I'd borrowed plus a few days interest though? They're adamant there's no "penalty" for early repayment, but I'm not convinced there won't be charges somewhere. Obviously I'll need to read the agreement well when I get it, but what's the norm?

OP posts:
DCIJackieDeering · 29/03/2024 10:53

I’ve done that. I rang the finance company separately to double check the cancellation terms. It’s worth doing that and check about any clawback of the discount. Seem to remember I repaid in about 30 days

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