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Discussion Starter #1
Hi,

I am looking to get a brand new Kia Rio 2 1.25 on PCP. Seen on Carwow that in Blackpool can get a £1339 discount, and then on top of that get £1750 deposit contribution if I take it out on PCP. I have the cash just to get the car completely.

My question is, if I take it out on PCP and then withdraw within my 14 days and pay it off in full, does the dealer have the right to claw back the £1750 dealer contribution?

I have read the terms and conditions and in the "Costs in the case of late payments" it says "In addition, if you break the terms of the agreement you must pay all our reasonable expenses and costs in finding you or the goods and taking steps (including court action) to enforce the agreement and obtain payment". Obviously this is in the section of late payments, but does that mean if I withdraw from the agreement , that I would have to pay back that £1750?

That is the only clause that worries me, everything else seems above board and there is the option to withdraw within 14 days

Thanks in advance.
 

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Looks like it's not the dealer, but Kia offer.

It is your legal right to withdraw. 5.9% APR is not cheap. could probably get a better rate on a loan.

I think others have done the pay off, and not been asked to pay back anything.

Just be aware sales person won't be best pleased as they lose their commission. So any issues may lead to a less than helpful assistance. (cynical mode)
 

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Discussion Starter #3
Looks like it's not the dealer, but Kia offer.

It is your legal right to withdraw. 5.9% APR is not cheap. could probably get a better rate on a loan.

I think others have done the pay off, and not been asked to pay back anything.

Just be aware sales person won't be best pleased as they lose their commission. So any issues may lead to a less than helpful assistance. (cynical mode)

Hi, yes the £1750 is the Kia offer, counts as a "dealer contribution". The £1339 discount is from the dealer though.

Thanks for the reply. I probably wouldn't use that dealership after I bought the car anyways, as its quite far away from me.
 

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Discussion Starter #4
Does the 14 days start from date of collection. Also, do you know when I will pay the deposit, sorry never had a PCP before.
 

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I would think so, as that is when you sign the paperwork....

Don't want to be paying for a car you do not have.
 

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It's no problem I've bought 3 kias on pcp to get deposit allowance just ring kia finance up within 14 days tell them you wish to withdraw from finance and you pay only interest for the days you had it it paid £8 last time saved £2500 no Need to inform the dealer nothing to do with him, but he will probley not get his commission shame (y) ps I also done it with 2 ford cars.
 
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