BMW finance - quickly paying off pcp?

J

jonnywells

Member
 Leicester
Although nothing to do with a Z4 Got a question regarding BMW finance and quickly paying off an PCP deal.

Finance would be with black horse through BMW

The sales man seemed to be under the impression I would have to pay 2 months before I could fully pay the finance off early (he mentioned this i didnt say anything at that point about paying off early.

Does this sound right or is this just typical salesman talk?

It's a 435i GC, pre reg with 10 miles so technically AUC.

I can't get them to budge at all for a cash deal, tbh the car is heavily marked down already.

If I take the finance offer they will knock £2k off (big sticker on car) but struggling with the gray area if I will be able just to pay the lot off like a lot of ppl do with the finance company within 14days.
 
I did this last year with my 340 , took the pcp to get the discount then made a couple of payments and rang for a settlement figure and paid in full . I'm sure it's ok to pay immediately and they charge the months interest only , I was told the make a few payments thing is so the salesman qualifies for his bonus for selling the finance but this may also be bollocks :D
 
You can always pay off any finance early and the finance company can charge any fees, charges or interest in accordance with the terms and conditions of the agreement you sign. The only way to be sure is to read the T&C's, anything else is pure speculation, however it's not uncommon for agreements to have a minimum term.

Just ask the salesman to print you a copy of the T&C's to read
 
Ive just bought a Golf R with VW Finance to get 2years free service and dealer contribution.Waited 4 days after signing then rang finance co. to make sure it had gone through and asked for settlement figure.
Was charged the 4 days interest but kept the free services and discount.Expect you will achieve similar.Good luck.
 
Well ATM i dont think i will be doing any deal.

They wouldnt give me a penny off the price so i tried to get them to cruck the 5 year service pack in for free and they wont even do that for me.

I have 2 odd months left of my current lease deal so they are not giving me any intensives at all to close the deal....i hate dealing with dealers i just dont seem to have any luck with them :headbang:
 
Interesting that it's with black horse as BMW have their own finance. BMW financial services.

Just a quick check online and as I suspect, the dealer is using Blackhorse as a secondary finance company for sales, so it's not BMW financial services you will be dealing with so you will need to make sure you do read the T&Cs as its not a BMW finance product.
 
I think you will have a 14 day cooling off period, so if the balance is paid off before that I don't think they can charge you admin charges :)
 
Angie4m said:
Interesting that it's with black horse as BMW have their own finance. BMW financial services.

Just a quick check online and as I suspect, the dealer is using Blackhorse as a secondary finance company for sales, so it's not BMW financial services you will be dealing with so you will need to make sure you do read the T&Cs as its not a BMW finance product.
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I think BMW seem to use them for AUC cars.
 
jonnywells said:
Angie4m said:
Interesting that it's with black horse as BMW have their own finance. BMW financial services.

Just a quick check online and as I suspect, the dealer is using Blackhorse as a secondary finance company for sales, so it's not BMW financial services you will be dealing with so you will need to make sure you do read the T&Cs as its not a BMW finance product.
Click to expand...

I think BMW seem to use them for AUC cars.
Click to expand...

No BMW finance is still avalible but dealers can choose to use Blackhorse with different offers and rates from BMW finance.

When you link through from the AUC site to the finance site there is no mention of Blackhorse. I've only known one dealership to use Blackhorse when they were doing different deals to get people in.
 
jonnywells said:
Although nothing to do with a Z4 Got a question regarding BMW finance and quickly paying off an PCP deal.

Finance would be with black horse through BMW

The sales man seemed to be under the impression I would have to pay 2 months before I could fully pay the finance off early (he mentioned this i didnt say anything at that point about paying off early.

Does this sound right or is this just typical salesman talk?

It's a 435i GC, pre reg with 10 miles so technically AUC.

I can't get them to budge at all for a cash deal, tbh the car is heavily marked down already.

If I take the finance offer they will knock £2k off (big sticker on car) but struggling with the gray area if I will be able just to pay the lot off like a lot of ppl do with the finance company within 14days.


Honestly, I’ve started looking at other ways to bridge these financial gaps if the dealer tries to force their terms—sometimes it’s easier to secure independent funding through places like txexpresslend.com and just pay cash for the car outright to avoid the "salesman talk" and the weird waiting periods.
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I know this thread is about 10 years old, but for anyone who stumbles across it from Google, the rules are much clearer these days. In the UK you can generally settle a PCP agreement early, although the exact amount depends on the finance agreement and any applicable interest or settlement calculations. It's always worth requesting a settlement figure directly from the finance company rather than relying on what the salesperson says.

Dealers and finance providers also tend to have different incentives, so the salesperson isn't always the best source of information about early settlement. The paperwork and the lender's customer service are what matter in the end.
 
Drefoldn said:
I know this thread is about 10 years old, but for anyone who stumbles across it from Google, the rules are much clearer these days. In the UK you can generally settle a PCP agreement early, although the exact amount depends on the finance agreement and any applicable interest or settlement calculations. It's always worth requesting a settlement figure directly from the finance company rather than relying on what the salesperson says.

Dealers and finance providers also tend to have different incentives, so the salesperson isn't always the best source of information about early settlement. The paperwork and the lender's customer service are what matter in the end.
Click to expand...

You really don’t rate the brits do you…? 😆

Our football doesn’t impress you, even though we’re still in the World Cup and the USA…errrr….isnt…😬

And now you feel the need to explain to us how our PCP agreements work. Thanks for that, we had no idea. 👍
 
john-e89 said:
You really don’t rate the brits do you…? 😆

Our football doesn’t impress you, even though we’re still in the World Cup and the USA…errrr….isnt…😬

And now you feel the need to explain to us how our PCP agreements work. Thanks for that, we had no idea. 👍
Click to expand...
Yup. 13 posts in 12 months and one of them briefly mentions a Z4. I’m just waiting for a discourse on the evils of chemtrail cloud seeding over our flat earth 🤣🤣🤣
 
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