As I am in this position, does anyone have any experience of being "approved" (but not signed up) for finance but swapping to an alternative in house finance product before collection ? I have also been advised by my local dealer that there is no minimum deposit on the 0%
I have the experience of missing out on a great finance deal because the salesman hadn't officially put me through the finance application.
When GFV was £18500 on a Golf R at 3 years, I wanted finance. When GFV dropped to £15500 before my R turned up, my salesman told me he hadn't formally put my application through and therefore VWFS wouldn't honour it. Facing an extra £90 a month on PCP, I bought it with my savings instead.
If the car hasn't turned up yet, your finance hasn't started and you should be able to apply again for a better deal.
In this case, you won't get both the deposit contribution attached to the 4.9% APR deal and the actual 0% interest rate attached to the alternative deal.
I'd take the 0% finance deal. Finance £2k more for 0%. £2k deposit contribution will reduce the amount by £2k plus maybe £300 interest saved against the overall interest cost of £4k or thereabouts. £2300 vs £4000. That 0% deal is going to score you £1700 more than the other deal, or reduce your PCP monthlies by almost £50pm over 36 months. Have you got 15% upfront to get the 0% deal?
