Dealership contributions

[rcsp]

Hello all,
I'm looking at buying a new GSA and at the moment there is a dealer deposit contribution of £800 if you take out BMW finance. Has anyone out there taken up this offer and then cancelled the finance within 2 weeks and paid up in full? If so what was the financial 'penalty'? Wondering if you have to stump up the £800 Or just pay some kind of admin fee?

 

[myrsole]

bought my gs back in may with 1000.00 contribution from bmw, paid off finance after a few days with no problems. I had to pay £1.06 for every day i was in the finance agreement that was the only penalty, found bmw finance people very obliging to deal with.

 

[stever1]

I have just bought an RT on this deal, and on the paper work it looks like there is no problems in cancelling.

 

[SpeedyPete]

I've just done exactly that - well, the cancellation letter to BMW sits right in front of me here. You can, without penalty and without needing to give a reason, cancel the agreement in the first 14 days and pay off the balance of your finance and they cannot 'claw back' the dealer contribution ... which in fact isn't from the dealer to you but from BMW Finance to the Dealer

After the 14 days has elapsed you're able to do the same thing but you'll add interest each day thereafter ...which i worked out to be about £1.30 a day given my term/amount.

What you actually do is sign and pay a Credit Agreement for the borrowed amount ... and the contribution has already been taken off by the time those magic numbers are worked out. The garage has had the money before you ride away. In effect, they are almost two different things in reality. Make sense?

The finance company may sulk, but you've repaid them and the garage has had the loot too. Simples

 

[rcsp]

Many thanks all. Mind at rest! Now just gotta find the other thirteen and a half grand

 

[Bahnstormer]

Many thanks all. Mind at rest! Now just gotta find the other thirteen and a half grand

No excuses now .......

Paul

 

[ronnie69]

anyone done the same thing with the £500 contribution on used bikes ? I can't see why it would be any different but it's always reassuring if someone has already done it ...

 

[ScoobyZ]

Hi do the BMW dealers haggle much for a new GSA or is it the price on the BMW Motrad site?

 

[iand46]

Hello all,
I'm looking at buying a new GSA and at the moment there is a dealer deposit contribution of £800 if you take out BMW finance. Has anyone out there taken up this offer and then cancelled the finance within 2 weeks and paid up in full? If so what was the financial 'penalty'? Wondering if you have to stump up the £800 Or just pay some kind of admin fee?

Asked my dealer, can I have the £800 contribution without using BMW finance? he said no but I will give you a £700 discount on the bike

 

[ScoobyZ]

Asked my dealer, can I have the £800 contribution without using BMW finance? he said no but I will give you a £700 discount on the bike

Cool, would he give you that as well as the £800 contribution if you took the finance? Or maybe some accessories.

 

[iand46]

Cool, would he give you that as well as the £800 contribution if you took the finance? Or maybe some accessories.

Did not ask, BMW interest rates far too high. Got a good deal online.

 

[mercuri]

Asked my dealer, can I have the £800 contribution without using BMW finance? he said no but I will give you a £700 discount on the bike

Which dealership is that? I am planning to get one too...

 

[AberdeenAngus]

Hi do the BMW dealers haggle much for a new GSA or is it the price on the BMW Motrad site?

Even if you cant get any more money off, go for the freebies.
I would suggest you have something specific in mind.

 

[iand46]

Which dealership is that? I am planning to get one too...

Allan Jefferies in Baildon West Yorkshire. Bit of a trek for you.

 

[Nutty]

Will they hold that offer open till march?

 

[mercuri]

Allan Jefferies in Baildon West Yorkshire. Bit of a trek for you.

cheers mate! what else did you get from Allan Jefferies? All 3 boxes?

 

[mossop]

just bought a new triple black gsa this week , i was planning it to be a cash deal but the dealer said if i took finance i would get the £800 from the finance and £800 pounds from the dealer discount , deal done , and i'm planning to pay it off before first installment

 

[BBB61]

just bought a new triple black gsa this week , i was planning it to be a cash deal but the dealer said if i took finance i would get the £800 from the finance and £800 pounds from the dealer discount , deal done , and i'm planning to pay it off before first installment

That's exactly the same deal I got when I bought my triple black GSA at the end of September. I exercised my right of withdrawal which has to be done within 14 days of signing the agreement and all it cost me was £5.30 in interest charges. The £1600 I saved covered the cost of the premium pack.

 

[Molan]

I see the dealer deposit has risen to £1,000 now.

Wonder if it's possible to get another £1,000 off from a dealer?