As said previously the 14 days is to reject return the car. It doesn't really have a bearing in the finance.Just to update you, I contacted VWFS and they can't find any record of a a financial agreement.
So I contacted the dealer and they've not activated the agreement yet and said the 14 days starts after activation
The benefit of withdrawing from the PCP finance contact within the statutory 14 day cooling off period under the Consumer Contracts Regulations means you‘d pay less interest than you would by cancelling / requesting a settlement figure at a later date.As said previously the 14 days is to reject return the car. It doesn't really have a bearing in the finance.
Unless you really don't want a financial contract for a month or two, or any time for that matter, you can simply ask for a settlement at any time - within 14 days if you want or more than 14 days.
Pay it and you don't have a financial contract anymore - you will have a car and you will keep the financial contribution.
We've done it twice now, both times after paying a month or two of the contract. Kept the financial contribution in both cases.
Yes, as I said " a few pounds". Peanuts compared to the kept contribution, and the stress of trying to acheive doing it all in a not too clearly defined 14 day period.The benefit of withdrawing from the PCP finance contact within the statutory 14 day cooling off period under the Consumer Contracts Regulations means you‘d pay less interest than you would by cancelling / requesting a settlement figure at a later date.
Back in 2020 I withdrew from my contract after three days and got charged three days interest at a daily rate of £2.07, so £6.21 in total. But yes, you can request a settlement figure at any time.