Using BMW finance just for the finance continuation

c.grex · 03-20-2019, 10:43 AM

I’m thinking of buying a used 330d and the dealer is offering £1000 off if I take the finance at 9.9%. Is there any reason I can’t take the finance and pay it off straight away just to get the £1000 off? If I paid cash what is the likelyhood of getting 1k off? (Car is £17900)

DB118D · 03-20-2019, 11:17 AM

Nothing stopping you at all

Likelihood of getting a bag off for cash is zero

creepy coupe · 03-20-2019, 12:06 PM

I bought a used car and went with the finance. Then paid it in full before the 14 days was up and financed it another way. The dealer phoned me. Because BMW finance tell them. They think you have sold the car. I just said I used a better option.

At the end of the day if the take the piss and 9.9% what can they expect. I gave them the opportunely to match the bank rate. but they declined.

I wouldn't have done it if they had looked after me.

Vroombimmer · 03-20-2019, 12:12 PM

I did the same for my wifes used Audi A1. Salesman figured out what i was intending to do - asked me to hold onto the finance for 6months before paying it off- as it affects their ratings with Audi finance or something. I took the finance out- along with their nice little contribution and 2 free services. Called up the next morning at 9am and paid it all off.
No issues whatsoever. Received a letter from Audi finance few days later- to say audi no longer had any interest in the car.

c.grex · 03-20-2019, 12:42 PM

I’ve spoken to them again and they can knock £500 off for a straight sale.

I’m going to go with the finance and just pay it off with the bank loan at 2.8%! I haven’t told them that’s what I’m going to do.

Soul_Glo · 03-20-2019, 12:46 PM

Quote:

Originally Posted by Vroombimmer

I did the same for my wifes used Audi A1. Salesman figured out what i was intending to do - asked me to hold onto the finance for 6months before paying it off- as it affects their ratings with Audi finance or something. I took the finance out- along with their nice little contribution and 2 free services. Called up the next morning at 9am and paid it all off.
No issues whatsoever. Received a letter from Audi finance few days later- to say audi no longer had any interest in the car.

Well done

ossi1 · 03-20-2019, 01:34 PM

I've done it on my last three purchases.

..then cancelled the finance.

On every occasion the sales person has incorrectly told me I couldn't do it. Some manufacturers Skoda, VW ? insist on you keeping the finance for 6 months before paying off. No such issue with BMW.

03-20-2019, 10:43 AM	#1
c.grex Private First Class 22 Rep 179 Posts Drives: F31 330D Luxury Join Date: Mar 2014 Location: Ribble Valley iTrader: (0)	Using BMW finance just for the finance continuation I’m thinking of buying a used 330d and the dealer is offering £1000 off if I take the finance at 9.9%. Is there any reason I can’t take the finance and pay it off straight away just to get the £1000 off? If I paid cash what is the likelyhood of getting 1k off? (Car is £17900)
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03-20-2019, 11:17 AM	#2
DB118D Lieutenant Colonel 1023 Rep 1,670 Posts Drives: 118d Sport Join Date: Oct 2014 Location: Glasgow iTrader: (0)	Nothing stopping you at all Likelihood of getting a bag off for cash is zero
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03-20-2019, 12:06 PM	#3
creepy coupe Lieutenant General 1867 Rep 13,043 Posts Drives: BMW M340I G20 Join Date: Aug 2007 Location: UK iTrader: (2) Garage List 2015 BMW 435d [0.00] 2009 335i [0.00]	I bought a used car and went with the finance. Then paid it in full before the 14 days was up and financed it another way. The dealer phoned me. Because BMW finance tell them. They think you have sold the car. I just said I used a better option. At the end of the day if the take the piss and 9.9% what can they expect. I gave them the opportunely to match the bank rate. but they declined. I wouldn't have done it if they had looked after me. __________________ -------------------------------------------------------------- Current car.M240i. Previous.MINI JCW. E92 325i. 435d M235i.M135i. 635d Coupe, E92 M3 manual, E92 M3 DCT Competition Pack. E92 335i, Porsche Cayman S Gen2, 135i Coupe. E92 320d, MK5 R32. MK5 Golf GTi,MK5 Golf GT-TDI,E46 318Ci.
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03-20-2019, 12:12 PM	#4
Vroombimmer Private 31 Rep 81 Posts Drives: 435d Gran Coupe Join Date: Apr 2018 Location: Birmingham iTrader: (0)	I did the same for my wifes used Audi A1. Salesman figured out what i was intending to do - asked me to hold onto the finance for 6months before paying it off- as it affects their ratings with Audi finance or something. I took the finance out- along with their nice little contribution and 2 free services. Called up the next morning at 9am and paid it all off. No issues whatsoever. Received a letter from Audi finance few days later- to say audi no longer had any interest in the car.
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03-20-2019, 12:42 PM	#5
c.grex Private First Class 22 Rep 179 Posts Drives: F31 330D Luxury Join Date: Mar 2014 Location: Ribble Valley iTrader: (0)	I’ve spoken to them again and they can knock £500 off for a straight sale. I’m going to go with the finance and just pay it off with the bank loan at 2.8%! I haven’t told them that’s what I’m going to do.
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03-20-2019, 01:34 PM	#7
ossi1 Banned 124 Rep 268 Posts Drives: M Sport 340i Join Date: Oct 2014 Location: UK iTrader: (0)	I've done it on my last three purchases. ..then cancelled the finance. On every occasion the sales person has incorrectly told me I couldn't do it. Some manufacturers Skoda, VW ? insist on you keeping the finance for 6 months before paying off. No such issue with BMW.
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