jackcramerr wrote:

Been offered 1500 deposit contribution. They said early repayment is not something they like and requested I do not do it. Does that mean I can do it and I should do it?

They requested to see my bank statements as well. Is this normal? Not sure what they will see there as I hardly keep anything in account as I invest everything.

It can be on higher value vehicles. It took me by surprise when they asked me when I got a finance deal (contribution was a whopping £15K) on the GLS63, but then paid it off. It was especially interesting as they specifically asked for the bank account in which my salary goes. To me that clearly demonstrated they had no clue about modern day finances

I think you'll find that the dealer has to repay the finance commission if it's settled within the first 6 months hence the 'gentlemen's agreement '. They're trying to protect their profit, I don't believe anyone can tell you that you can't repay it apart from what the rules are in the T &C's of the finance agreement.

Does that mean I will not get the contribution if I pay within a week? How can I ask this without raising alarms.

Read the terms and conditions of the deal in addition to the draft invoice. The draft invoice should have the price you pay on it together with any deductions. The terms and conditions determine the “rules” of the contract. You have to read them and understand them. Just like with anything else in life

When I buy I explore all deals including finance. So far cash has always been best. Not that I buy a new car very often, so a very small sample size of deals!

I am currently planning my next purchase in 2030 😬, presumably an all electric fatty for £250,000 or god knows what price. L405 P400e Autobiography (MY2020)... Silicon Silver / Espresso

So I am reading this:

Early repayment You have a right to repay the credit early at any time in full or partially. You must notify us and
make the payment before the end of the period of 28 days beginning with the day following
the day that we receive the notice, or on or before any later date specified in your notice.
...

The period of time during which the creditor is
bound by the pre-contract information.
This information is valid from 25/03/2021 until 24/04/2021
...
Right to cancel the credit agreement

You will have the right to cancel the credit agreement for 14 days, beginning with the day
after the credit agreement is made.

I don't see where it says what happens to deposit contribution in case of early payment. Also I am not able to understand what will happen if I inform them and pay in full within 14 days. Do I still pay interest for the month?

The deposit contribution isn't part of your contract, so that is a good thing

Cancel === don't pay interest, but you do still pay for the car as per the invoice price. So happy days...