Audi Finance

jbanfie · 24-05-2012,09:39 AM

You need to read the small print on the documents - the document will give you a withdrawal figure and a daily interest amount exactly as I decsribe above, this is what you pay, on my BMW example there is no claw back or anything. Of course the early repayment terms might be OK - on my example the APR for the loan was over 13%, but on the withdrawal it was only 6.4% so I paid as soon as I could. Also, I was very wary of the whole thing until I actually got my hands on the documentation when everything became very clear.

Don't get me wrong, I thought there had to be a catch, but I think under the Credit Act, there is none, as that's the law.

Timothy on LloydsTSB premier, the credit report stuff is all under the idaware scheme, you need to access that via the online banking.

**sixfoottwo** · 26-05-2012,10:50 PM

A most interesting thread. I hope to get my car on Thursday, and will be taking out the finance, which I aim to repay within the 2 weeks. The price paid matched that on Orangewheels, so feel as though I have a really good deal.

jbanfie · 27-05-2012,06:17 AM

Sixfoottwo has nailed it, I took exactly the same approach, using internet deals to negotiate with the dealer, it worked fine and the dealer was happy to match the price without debate, in his words "We only get one bite at the cherry, if we don't offer a deal there are plenty of other dealers who will!" - I thought that was remarkably frank, honest and actually respectful - hence they got my business.

It's dog eat dog out there!

**nealeb** · 27-05-2012,09:40 PM

I took the "withdraw within two weeks" route; I rang them and it was a "no questions asked" deal. And, just as the dealer told me, there was no request for return of any incentives. I paid something like a £4/day nominal interest charge.

**TDiTom** · 27-05-2012,09:53 PM

Hmm, madness. However I have just done something very similar now, buying the Mrs a new pc, I was offered £200 cash back if I bought on buy now pay later, after one month the credit is applied and I can settle with no interest! Big companies starting to give credit again, signs of an improving econamy.

**nealeb** · 27-05-2012,10:26 PM

Doesn't have to make sense - it's marketing! You know, where the rubber meets the sky...

**burningoil** · 11-06-2012,11:39 AM

sorry late in replying, once you get the paperwork through the post, just phone them for an early settlement figure. I did mine well before the first D/D was due. Paid off and took out conventional bank loan over the same period, much cheaper. Cheers

**robbyg** · 11-06-2012,06:55 PM

Done it, the day the letter with the policy number came through. Paid off in full over jubilee weekend. I think they charged £125 set up fee plus a months interest. Fair enough for a £4k discount. Just waiting for the "all clear" letter to come though.

**krupatel** · 11-06-2012,10:02 PM

So far I've only received a two page document from Audi Finance detailing the payment structure. There is an agreement/direct debit ref on there. Is this the same as the policy number and so can I call them for a settlement figure yet or is there a detailed policy document still to come?

**robbyg** · 11-06-2012,10:35 PM

Originally Posted by krupatel

So far I've only received a two page document from Audi Finance detailing the payment structure. There is an agreement/direct debit ref on there. Is this the same as the policy number and so can I call them for a settlement figure yet or is there a detailed policy document still to come?

agreement number, yes thats it. ring the number on the letter.