Taking advantage of dealer deposit contribution

m500dpp · Mar 10, 2015

Many dealers/manufacturers now offer a deposit contribution when you take out their finance which inevitably isnt that cheap so its not the bargain it seems, but here's a twist:

I bought my 10 plate C Class Merc and took out the finance, gaining the £1000 deposit contribution. I then cancelled the finance (within 14 days) at which point EU law prevents the finance company charging anything, so I just repaid the balance.

Net result I got a £1000 discount! Doubt the dealer was impressed as they get a kick back from the finance which would cover their deposit contribution.

Bigsanj · Mar 10, 2015

Just done the same on an Audi A6. £5000 audi deposit contribution and £2500 dealer deposit contribution.

m500dpp · Mar 10, 2015

Just done the same on an Audi A6. £5000 audi deposit contribution and £2500 dealer deposit contribution.

Blimey bet you wont be popular - well done!!!

Bigsanj · Mar 11, 2015

The dealer told me to do it on one condition, the car was registered in March.

Audi have huge incentives on the A4, A6 and A7 and throwing money at them.

MDC250 · Mar 10, 2015

I did this as well...wonder if you can get away with it a second time with same mfr...?!

Spoony · Mar 10, 2015

This seems like too good an idea to work for me! Well done chaps.

Rayaan · Mar 11, 2015

I do this every time. Thought it was common knowledge around here.

In fact - my dealer encourages me, helps them to meet sales targets apparently

andy665 · Mar 11, 2015

Just check the small print before doing so as its perfectly within their rights to insert a clause that entitles a deposit contribution to be reclaimed if the agreement is cancelled within a certain timeframe

Never seen such a clause and I would always take advantage of such deals - its on effect free money

Clancy · Mar 11, 2015

Well done, doubt this will be around long they will twig it and put a clause in most likely

Taking advantage of dealer deposit contribution

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