Financial Services Conundrum

[AlanM]

I have been mainly lurking on here since the autumn and especially since I ordered an Ocean in November.
I was intending to pay cash but learned that there was a £750 contribution to the cost if I took out a financing deal. I also learned, and this was confirmed by the dealer, that I could pay off the finance within 14 days with little impact on the contribution other than being charged a months interest.
At the time I was given figures for the finance but didn't sign anything, or receive any paperwork, or give any final commitment, except to confirm that I was interested.
I am now told that the commitment to the financing offer only ran for 3 months, though there is usually an extension for a further 3 months. As my delivery will be beyond that 6 months nothing stands as 'in place'.
The critical part is that the contribution is no longer available.
The dealer tells me that this is all in the hands of VW Financial Services while they tell me that this is solely a matter for the dealership.
Obviously, £750 is not to be sniffed at and I am confused about its status and my position. Also, somewhat bemused by the lack of anyone taking responsibility despite a good number of phone calls.
Does anyone have advice or experience about this? Is it the same with all dealers? Have any enjoyed or been refused access to the 'contribution'?

 

[Seaside Sussex]

We took the finance deal on our Ocean (offered to us at ordering) simply because of the £750 deposit contribution. We intend to pay off the total amount due after the first monthly instalment which is due in the next few days.

In your case I would contact the Sales Manager at your dealership stating that your order was made conditional on this being part of the package you agreed to. I would have thought they wouldn't want to compromise the whole order for what is essentially a less than 1.5% contribution.

 

[Cali Ali]

We looked at the finance deal and the dealer indicated that we would get the finance deal that was in place when we ordered rather than when we took delivery ( in our case 7 months after order).

I would go back to your dealer and push the point, it's not your fault that the lead times are so long.

Also look at the service plan, 4 x services for £349 is also part of the finance package.

One thing to note if you repay within 14 days VWFS will cancel the whole deal and you get no benefits as you are within the cooling off period, we were advised to make 1 payment and then pay it off, the interest costs is around £200

 

[calimera]

Maybe things have changed when we took the finance offer with £750 contribution & service plan ,we cancelled within 14 days . Paying little interest,still got £ 750 & service plan. The dealer did say we need to pay the interest for six months before cancelling. Phoned VW finance said it was fine to cancel within the 14 days.

 

[Stoneybroke]

In my case the dealer contacted vwfs and ensured all offers at the time of ordering we honoured, including £179+vat 4 service +first mot package.
We too paid it off in full, though I did so after the first payment, as I wanted the extra protection of the consumer credit act and count find whether cancelling in the cooling off period would void that.
The delay also meant our caravelle was sold, so the cash was there.
Push the dealer, the contract agreeing to supply is complete at time of ordering, hence deposit, etc. so all offers and inducements should stand.

 

[Mr & Mrs B]

We weren't planning on taking out finance for Cali, but as she arrived a little earlier than expected and we couldn't access our money straight away, the dealer arrange finance for us. We got the £750 contribution and were told we can pay it of as soon as we want, By the time we get our money, we will have made the first payment, but plan on paying off in full. We also took out the service deal.

 

[inthemidnighthour]

We purchased our new ocean the end of March with vw finance using our old Cali as deposit, and received the 750 deposit allowance and paid it off in full within the week

There was a lot of backwards and forwards sorting the finance but cancelling it after receiving our new Cali was easy

Dave and lisa

 

[DM]

I cancelled within the cooling off period and retained the benefits - deposit contribution and service plan.

 

[itscalledbob]

I canceled the day after collecting my Cali and retained the deposit contribution and servicing package.

You will be charged any interest incurred between the date you take out the finance and the day you pay it off. If you cancel after the cooling off period you will also be liable for an additional months interest as I recall.

 

[AlanM]

Many thanks for your advice so far.

The dealer says that the £750 contribution was withdrawn from 31st March. Is that correct? Has anyone been offered the benefit since then?

VW Financial Services simply won't talk to me about this as they say all business is done through the dealer???

 

[Mr & Mrs B]

We signed our finance agreement on 19 April - the day we collected Cali - and the £750 was deducted from the total amount.

 

[Trev]

Not sure about withdrawal or not of contribution offer but on the cancellation of the finance point if you cancel within the 14 days cooling off period you are simply charged interest for the period from purchase to cancellation date. The deposit contribution is not withdrawn. Hope this helps.

 

[AlanM]

Many thanks for the information.
Has anyone else received the £750 contribution recently, or been offered it?
On the other hand has anyone else been told that it is no longer available?

 

[DM]

Many thanks for the information.
Has anyone else received the £750 contribution recently, or been offered it?
On the other hand has anyone else been told that it is no longer available?

The illustrations on the website are currently showing deposit contributions of £500 for a Caravelle to Transporter, £1,000 for a Caddy and - wait for it - £0 for a California

 

[AlanM]

I was offered the finance and the contribution verbally in November 16 at the time of my order and payment of my deposit. I was not told that this might be withdrawn nor provided with any paperwork. I do have a screenshot of their internal form showing a record of their offer.
Apart from any moral rights do I have any contractual rights to claim that the access to the contribution should be honoured please?

 

[DM]

I was offered the finance and the contribution verbally in November 16 at the time of my order and payment of my deposit. I was not told that this might be withdrawn nor provided with any paperwork. I do have a screenshot of their internal form showing a record of their offer.
Apart from any moral rights do I have any contractual rights to claim that the access to the contribution should be honoured please?

The usual tale of half a story from some VW dealers. The deals change regularly so you do need to check with your dealer what he offered you. When I purchased mine it was called a 'dealer contribution' but was actually funded by VWCV. My dealer did make it clear to me that the offer was available until 31 March 2016 and that it would not be available if the finance was not completed before this date. Fortunately I got delivery a couple of weeks before that.

All you can do is try the moral high ground I fear.

 

[AlanM]

Many thanks to everyone for their information and advice. As a result I have reach an amicable arrangement with the dealer

 

[Alex Bantock]

I have been mainly lurking on here since the autumn and especially since I ordered an Ocean in November.
I was intending to pay cash but learned that there was a £750 contribution to the cost if I took out a financing deal. I also learned, and this was confirmed by the dealer, that I could pay off the finance within 14 days with little impact on the contribution other than being charged a months interest.
At the time I was given figures for the finance but didn't sign anything, or receive any paperwork, or give any final commitment, except to confirm that I was interested.
I am now told that the commitment to the financing offer only ran for 3 months, though there is usually an extension for a further 3 months. As my delivery will be beyond that 6 months nothing stands as 'in place'.
The critical part is that the contribution is no longer available.
The dealer tells me that this is all in the hands of VW Financial Services while they tell me that this is solely a matter for the dealership.
Obviously, £750 is not to be sniffed at and I am confused about its status and my position. Also, somewhat bemused by the lack of anyone taking responsibility despite a good number of phone calls.
Does anyone have advice or experience about this? Is it the same with all dealers? Have any enjoyed or been refused access to the 'contribution'?

Although your contract to purchase was with the Dealership, the offer was made by WWFS in support of the sale and it is VWFS who have made the contract on this offer. Rather than play round the houses via the dealership, I would contact VWFS direct at Milton Keynes and ask them to clarify the matter as you contracted on the understanding of the offer. Also, beware of any charge for closing the account, as there is usually a purchase fee to allow transfer of ownership, so ask them to clarify that as well

 

[Soton Campers]

I cancelled within the cooling off period and retained the benefits - deposit contribution and service plan.

Yep, same with me.