- You are currently viewing DISCO4.COM as a guest - Register to take part or Log In
Someone-Gone
Member Since: 21 Dec 2015
Location: Gone
Posts: 5117
|
I know a few people whom have negotiated a deal for a new car and got a good discount on RRP.
Then when making reference to taking JLR credit, which attracts say an advertised £2,500 finance contribution for instance, they have been told they can only have £1,500.
This is because the Salesman says only £1,500 comes from LR and £1,000 from the dealership and as people are getting a very good discount they can’t afford the extra money.
What’s people’s opinion on this practice? Is it legal?
|
 10th Apr 2018 8:40 am |
|
|
Red Merle
Member Since: 30 Aug 2014
Location: Liskeard
Posts: 7438
|
Yes, it’s true that the dealer has to provide a proportion of the finance contribution. If you are saying that you’d like them to give the maximum discount possible and then find the cash to make up their proprtion of the finance contribution on top of it, that might be pushing your luck a bit far!
I’d take the finance contribution as the starting point for negotiation and then see what a short list of dealers will offer you on top of that.
Some sales people will say that there’s nothing to be offered over and above the finance contribution and that’s there own commercial decision. Talk to another dealer! 2011 - 2015: 3 x FL2
2015 - 2017: 2 x D4
2017 to date: FFRR SDV8
2023 to date: FL2 as a second car
2021 to date: Hinckley built ‘14 Triumph Trophy 1200
2022 to date: Hinckley built ‘14 Triumph Trophy 1200 & sidecar!
(One of only two known to exist in the world!)
|
| 10th Apr 2018 9:12 am |
|
|
NJSS
Member Since: 06 May 2009
Location: Catherington, Hampshire.
Posts: 10483
 
|
Quote:Talk to another dealer!
Or simply use CarWow or one of the other 3rd parties.
NJSS Am I Gammon or Woke ? - I neither know nor care.
2016 Discovery 4 Landmark
2011 Mercedes Benz SL350 (R230)
1973 MG B GT V8 - 3.9L John Eales engine, 5 speed R380 gearbox, since 1975.
1959 MGA roadster - 1.9L Peter Burgess Engine - 5 speed gearbox
Past LRs - Multiple FFRs, Discos & a Series I - some petrol, some diesel,
none Electric or H2 fuel cell - yet.
There are 10 types of people in this world: Those who understand binary, and those who don’t.
|
| 10th Apr 2018 9:30 am |
|
|
Brooksie69
Member Since: 09 Jun 2014
Location: Wigan
Posts: 168
|
After talking to 3rd party finance dealers give Land Rover (Blackhorse) the figures they generally find they can do something better.
Their dealer contribution comes off their profit so depending on the sales figures is dependant on what they offer.
 ...........One life live it..........
|
| 10th Apr 2018 9:35 am |
|
|
Someone-Gone
Member Since: 21 Dec 2015
Location: Gone
Posts: 5117
|
Yes, I appreciate what you say, but if this quarters offer is £2.5k finance contribution, there isn’t any small print saying it’s dependent on what the dealers profit margin is.
If a £1k comes from the dealership, you can bet LR are probably making it up in some form or fashion and as a consumer, it’s irrelevent to me how they finance it.
What I am questioning is if it’s legal to advertise this finance contribution of £2.5k and then pipe up they can’t afford it because you got such a good deal negotiating the price of the car you ordered and take their dealership - as far as I know - contribution off.
|
| 10th Apr 2018 10:31 am |
|
|
Brooksie69
Member Since: 09 Jun 2014
Location: Wigan
Posts: 168
|
If you have a notification from LR show it the dealer I’m sure they would allow the offer if not contact LR uk and report the dealership they may just pick up the phone.
Good luck ...........One life live it..........
|
| 10th Apr 2018 10:42 am |
|
|
Hairy Dan
Member Since: 19 Jan 2011
Location: Co. Durham
Posts: 12319
|
What do the terms and conditions of the offer state? Cheers Ian
--------------------
Club N.E.R.D.S
Kielder 4x4 Safari
Discoless
|
| 10th Apr 2018 11:59 am |
|
|
JonM
Member Since: 24 May 2012
Location: North Yorkshire
Posts: 1236
|
It probably says up to£2500 contribution 
I wonder what happens to the "Finance Contribution" if you're a cash buyer? MY2022 D5 HSE D300 - with extra nice bits added
MY2019 D5 HSE 3.0 SDV6 - sold to a dealer for a crazy price! - So good I bought another!
MY2012 D4 HSE 3.0 SDV6 - retired to a new home
|
| 10th Apr 2018 12:14 pm |
|
|
NoDo$h
Member Since: 02 May 2006
Location: Finding new and exciting ways to milk badgers.
Posts: 19689
|
The whole idea of incentivising people to finance is to build a broadly captive customer base with a known change cycle. They're effectively buying a load of warm sales prospects for 3 years time. All the manufacturers are doing it.
Hence no equivalent contribution for a cash sale. I know it's not considered "kind" to say no these days, but no. Just no, ok? And if it's not ok, still no.
|
| 10th Apr 2018 12:38 pm |
|
|
Someone-Gone
Member Since: 21 Dec 2015
Location: Gone
Posts: 5117
|
JonM - You are just being contrary. 
If you read the small print it says, dependent on model, dependent on balance etc. rather than dependent on whats in the kitty, but thanks for your valued contribution, it’s appreciated.
The T&Cs make no particular mention of the finance contribution other than to list it as a credit of £1.5k, but the bill is generated by the dealership.
The vehicle forfilled the criteria for the £2.5k and I was told that as I was getting such a good deal on the vehicle, they couldn’t afford to give me the other £1k which would have come out of their pocket.
It not a question of if the vehicle qualifies, it does and it would attract the £2.5k finance contribution, it’s just the legalities of LR having a headline £2.5k and the dealer circumventing it by using you’ve got us down to such a good price we can’t afford to let you have the full amount.
There’s a few people in the same predicament. I think LR and or the dealership has got to be careful with anything finance based particularly as they are credit brokers and get a commission.
|
| 10th Apr 2018 12:54 pm |
|
|
mse
Member Since: 27 Jun 2005
Location: Shropshire
Posts: 2702
|
This is a common practice and i dont see what the issue is.
You buy the car from the dealer, the dealer is selling a car and finance package where you are receiving a figure discount/contribution. It doesnt matter how they get to the figure, nor do they have to offer you anything or any discount.
You could decline the contribution and try and get a % discount instead ? Mike
|
| 11th Apr 2018 3:01 pm |
|
|
pjm-84
Member Since: 04 Oct 2016
Location: Hampshire
Posts: 2432
|
Or take out the finance, receive the contribution, and then pay the finance off within the 14 day cooling off period*.
*assuming you are a cash buyer
|
| 11th Apr 2018 3:13 pm |
|
|
Someone-Gone
Member Since: 21 Dec 2015
Location: Gone
Posts: 5117
|
That’s what I did. Cancelled and paid it off within 7 days.
I negotiated a cash deal, then saw that if I took credit I got a £2.5k contribution, but I was only given £1.5k because I had driven such a good deal.
I wouldn’t carp on about it, but it seems to be common practice with others suffering the same fate and it would be good to get a definitive on it.
The thing is credit brokers, i.e the dealer and LR Finance have got to be very careful when making the rules up as they go along with finance and it’s misleading.
It may be something to flag up to the Finace Ombudsman for an impartial decision.
|
| 11th Apr 2018 4:24 pm |
|
|
NJSS
Member Since: 06 May 2009
Location: Catherington, Hampshire.
Posts: 10483
|
Reviving a very old thread.
I was browsing offers sent to me by email, and saw a really decent discount, which tempted me to look further. A condition was:-
Quote:The quoted prices include a £2,500 deposit contribution which is conditional upon you taking out PCP finance at 5.5% APR Representative arranged by the dealer. If you do not wish to take out this finance, then you will need to add £2,500 to the prices that we quote.
a major change to the headline deal.
I'm a little unhappy about signing up to PCP then cancelling very soon after getting the car.
Has anyone got recent experience of doing this?
Interestingly on another similar car, through a different dealer there was a different condition:-
Quote:The quoted discounted prices shown are for a Cash purchase only.
Customers who are looking to finance their new car will be offered PCP finance at 3% APR Representative over 18 to 48 months with a 5% minimum deposit. However, please note you will lose £850 of the discount quoted if you take 3% APR PCP finance instead of the cash price.
NJSS Am I Gammon or Woke ? - I neither know nor care.
2016 Discovery 4 Landmark
2011 Mercedes Benz SL350 (R230)
1973 MG B GT V8 - 3.9L John Eales engine, 5 speed R380 gearbox, since 1975.
1959 MGA roadster - 1.9L Peter Burgess Engine - 5 speed gearbox
Past LRs - Multiple FFRs, Discos & a Series I - some petrol, some diesel,
none Electric or H2 fuel cell - yet.
There are 10 types of people in this world: Those who understand binary, and those who don’t.
|
| 5th Feb 2019 12:15 pm |
|
|
Someone-Gone
Member Since: 21 Dec 2015
Location: Gone
Posts: 5117
|
Since then I purchased two LRs. Fist one in April 2018 was on LR HP finance. I got the contribution and cancelled it within a week. I paid £16 odd interest. I saved £1.5k.
You have the right to cancel the contract within 7 days. Beyond that you can pay it off, but they charge you more interest, think just over £100 was mentioned, but you have maintain redress from LR finance if the car goes wrong.
Second one was in August 2018 again on LR HP. I got the contribution and within 24 hours cancelled. I paid £6 odd interest. I saved £2.5k.
Not tried the PCP route.
|
| 5th Feb 2019 1:24 pm |
|
|
|
Posting Rules
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
|
|
DISCO4.COM Copyright © 2004-2024 Futuranet Ltd & Martin Lewis
|
|
