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Two questions: Has anyone who ordered last year gone the PCP route and what APR did you get? I am trying to find infos, I believe it was 4.9% APR but it doesn't say now on my paperwork and on the website it's risen to 6.9 or something. Surely we get the old APR as that's when we ordered?

Second question: If you buy the car outright cash, no PCP, do you need GAP insurance? I am a little confused if you do.
 

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GAP insurance is to compensate you if the car is written off. The book price will give a figure, of say £18000 but it might cost you £22000 to replace it. The gap insurance covers the difference so when you order the replacement you don't then need to find the extra £4000 your self to get the car ordered.
In other words, it covers the GAP between what you get and what you pay.
It is recommended for any car purchase weather cash paid outright or through finance.
 

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Don't most insurers provide a like for like replacement if a car is written off in the first year ?
 

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Hi, This is what I done when I purchased my T-Roc. Took out the PCP finance with VW. With a £1000.00 contribution towards the car. One week later, payed the car off in full, happy days £1000.00 better off. 😁😁😁😁😁
 

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TN55 said:
Hi, This is what I done when I purchased my T-Roc. Took out the PCP finance with VW. With a £1000.00 contribution towards the car. One week later, payed the car off in full, happy days £1000.00 better off. 😁😁😁😁😁
Is VW not just acting as a broker, so the actual PCP agreement is with a third party ? If that were so, then being able to cancel after 1 week without penalty and while pocketing the £1000 deposit contribution might not be available for every PCP deal depending on who the actual finance is with. Often, paying off a finance agreement early will be subject to a penalty for loss of expected interest over the term of the agreement and not just the interest for 1 week.

I'd urge caution and ask some questions before assuming everyone can do that.
 

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Hi Ipala, well I can insure you I done this with no penalties, and I've got to say I know the salesman very well and had to ask the question, it seemed to good to be true, but that's what happened, also when I ordered back in August, I spoke to another dealership and they said the same thing about paying off early, any prospective buyers, ask the question. 😊😊😊😊😊
 

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TN55 said:
Hi Ipala, well I can insure you I done this with no penalties, and I've got to say I know the salesman very well and had to ask the question, it seemed to good to be true, but that's what happened, also when I ordered back in August, I spoke to another dealership and they said the same thing about paying off early, any prospective buyers, ask the question. 😊😊😊😊😊
Goddammit, a master stroke. :eek:
 

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I think the consumer credit act is our friend here and you have a 14 day cooling off period to cancel the finance but keep the incentive - in our case £1000. Some finance companies may impose a small daily interest charge but this is usually peanuts compared to the bonus. I have done this multiple times.
 

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TN55 said:
Hi Ipala, well I can insure you I done this with no penalties, and I've got to say I know the salesman very well and had to ask the question, it seemed to good to be true, but that's what happened, also when I ordered back in August, I spoke to another dealership and they said the same thing about paying off early, any prospective buyers, ask the question. 😊😊😊😊😊
Are you saying you have to sign up for the PCP deal at the time of order, in which case it is too late for all those on the forum like me who have ordered and now waiting.
 

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Hi impala, I've done this on the last two cars from VW, always when first ordering the car, so if you can change at a later date, not sure. can not see why you can't change and decide to take out finance.
 

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Impala said:
TN55 said:
Hi, This is what I done when I purchased my T-Roc. Took out the PCP finance with VW. With a £1000.00 contribution towards the car. One week later, payed the car off in full, happy days £1000.00 better off. 😁😁😁😁😁
Is VW not just acting as a broker, so the actual PCP agreement is with a third party ? If that were so, then being able to cancel after 1 week without penalty and while pocketing the £1000 deposit contribution might not be available for every PCP deal depending on who the actual finance is with. Often, paying off a finance agreement early will be subject to a penalty for loss of expected interest over the term of the agreement and not just the interest for 1 week.

I'd urge caution and ask some questions before assuming everyone can do that.
This is what I'm doing too Impala, apparently plenty of people are going down this path & paying off the PCP. As long as you do it within 14 days there's no penalty. My dealer has even offered for me to call in 2 days after pick up and he'll make the call for me
 

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I too benefitted £1000 by taking out the PCP finance. I rang the company before the 14 days and I had a further 14 days to settle the account. I also received £500 for test driving my TRoc with my dealer at the time. I had taken GAP insurance out with the dealer as part of the deal and again within 14 days from purchase had a good look around and paid half the money and for a longer period of time through ALA. Other company's may offer a better deal but I am happy with mine.
 
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