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You have 14 days from the date you sign the agreement to withdraw. You will be charged interest daily from the date you sign the agreement, to the date you request to withdraw. Once you request to withdraw, the interest is ‘frozen’ but you still have 30 days to make the payment to clear the agreement.

Many thank for such a full report.  I will take your ideas with me when I visit the dealership.

hi guys,

Thanks for accepting my application for membership. I just thought I would introduce myself to you all. My name’s Mat, I’ve just bought a 2018 GTI performance. Literally taken delivery of it today. I’m sure I’ll be picking your brains over the coming weeks and months 😂, but in the unlikely event I can help anyone, I’ll be more than happy to do so. Happy motoring!

Sorry to resurrect this as I'm sure most of you know the ins and outs of PCPs already.

BMW offered £600 off my 'new' used car if I took a PCP and I signed up.  They also declared (after the PCP court cases I guess they have to) that they will earn over £3,000 in commission which shocked me.

My question is how long do I have to cancel the PCP agreement and what will it cost me?  From above comments I appreciate that cancelling is different from early settlement.

Is it early settlement that has a limit of two months interest as a penalty payment?

Final question - does it make any difference if you sign the PCP agreement in the dealership rather than remotely away from the dealership?

Thanks in advance for any help.

Totally agree with that KingMonkey.  This is the best forum I've ever been on.  Genuine enthusiasm for all things GTI and always helpful without snardy comments which we can all do without.

I'll be sad to leave as I put down a deposit on a 2022 BMW M340d yesterday but I'll still pop in every now and then to see if my 4 years of Clubsport ownership can help someone else.  I'll probably spend more time here than any BMW forum as previous experience there has not been good.  It's good to have you back. Have you got any pics of the new LED?  I'm still interested!