Yaris - delivery, etc

[Spiral82]

When ordering my Yaris towards the end of February last year 0% finance was available and the advertising said 'valid for cars registered by end of June'.

Knowing full well mine wouldn't likely be delivered by then I sought and received  confirmation from the dealership that, if I committed to an order with a deposit, the finance would be honoured at the 0% rate as and when it arrived (estimated for late July/early August which turned out to be accurate). I was sent an email by the dealership the day after signing the order form with the finance quote incorporated in a 'General Finance Review' document that also included information about the finance product, data protection info and other related content.  

I thought these days when providing finance quotes - let alone actual products - dealerships have to provide full documented information to the customer along the lines I received. I also confirmed the honouring of the 0% finance and other order details back to the dealer by letter.

Everything was honoured and went smoothly - no question of anything changing even when I asked to wait until September 1st for delivery even though the car arrived with the dealership at the end of July: I wondered if they'd say I had to take delivery straight away to still benefit from 0%, but no problem.

 

 

[raymondolee]

This is all good to read for me tat the apr was honoured because it has been my worry for me as my car still has not been built and I ordered in May

[pauly69]

11 hours ago, raymondolee said:

This is all good to read for me tat the apr was honoured because it has been my worry for me as my car still has not been built and I ordered in May

Yikes, and I thought we had it bad - ordered end of May, built end of October but still in Zeebrugge since 18/Nov. Hopefully you get some progress soon.

[Graham47]

Finally moved from Zeebrugge to Grimsby !
Looks like February delivery to dealership could happen !

[Mojo1010]

I'm cancelling my excel order due to a few reasons. When it was ordered there was no Toyota contribution of 1750, Apr was 1.9%. With the contribution it is now approx 1200 less for the same car, though Apr is now 9.9%, 6.9% at one stage. 

Email my dealer to ask if ok to transfer to new finance, no reply. Sent another email regarding linking order to myT app, again no reply. A couple of weeks ago email them to cancel the order, no reply, and left a couple of answerphone messages. Have now repeated the email again, this time cc Toyota uk in. This particular dealer don't deserve my custom, non existent customer service since ordered. Guess there will be a fight on my hand to get the 500 deposit back. 

Next month I will be putting an order for the design spec with another dealer via drive the deal. The new 9.9% will not be a problem, will settle finance day after picking up car, paying a day of interest. A change of plan from the excel trim. 2-3 years later, anticipate my requirement for a car with a bigger boot, perhaps the YC, also would like the HUD, JBL to return as well as luxury item like heated seats/steering wheel on the YC.

Design spec is 3k less than the excel original order last year. A good thing is the tyres on this is more comfort than the excel!

[Cyker]

Aww that sucks  

Is your dealer Jemca perchance? Their thing seems to be terrible communication.  I must admit the Enfield one has improved a bit - I can still never get in contact with them, but they have gotten better at calling me, and not just because they want more money off me!  The service agent I had definitely seemed more conscientious about customer service than I'd typically experienced there. I hope I get him again when my next service comes up...! 

Have you considered looking at the Mazda Yaris?   I believe they still do their top-spec ones with a HUD option (Unless that's changed recently!)

A word of warning: Check the terms of the finance; Some of them have penalties for early payment! Often it's the %APR they'd miss out on by you paying it off early.

 

[Rhymes with Paris]

There must be some advantage then to take out finance and then settle it immediately?

I don't understand it though,do dealers put a different price on a car for a cash, well card/bank transfer sale?

Mojo, fingers crossed that you get your deposit back in a timely fashion.

Are there any written terms and conditions when you place an order regarding a deposit,ie some kind of contract ? 

Sorry for all the questions, but it's over 30 years since I last bought a new car.

 

 

 

 

[Mojo1010]

Yep jemca Bromley.

Mazda Yaris select is almost 24k, about 3k more than excel, so a no go. Regarding finance, there is no penalty for full settlement within 14 days of receiving the car, it's the law. Interest for how many days elapsed once pick up car, some may charge £10 admin fee that's all. The penalty only comes in after the 14 days, if in their terms. 

The terms regarding the deposit are they can make a deduction for the work already completed. 

Edit: RW Paris.

Taking out the finance gets the 1750 Toyota contribution, cash sales don't. So if one got the full money, pay in full after receiving car to take advantage of it, it's perfectly legal. 

[Cyker]

Haaaa at least they're consistent across the franchise  

I'm almost certain the dealers get money to get people on the finance plans - My uncle was about to buy a Corolla TS, but they were waiting on the finance to come back. He didn't qualify as he'd only recently moved to this country (So basically had no credit history I guess?), and that immediately caused the salesman to revise the price considerably higher. (He didn't buy it)

It's all very scummy feeling.

Also, plus points for the Mazda - The HUD comes as standard on the top spec model (I just checked!) and it comes with a 16" alloys but has options for 15" rims both alloy and steel!

As you say it is very expensive tho' - It's seems about the same price as an Excel with all the options thrown at it. (Which makes sense because that's basically what it is, only with more options the UK Toyotas can't even have!)

I think I might have to pay a visit to a Mazda dealer in the future tho' (Assuming I can find one I can get to!) - They seem to be selling the TPMS sensors for half what Toyota wanted! (~£150 for 4 vs over £70 each!)

 

[ISL]

When I bought my last car in 2018 I got a better price for taking out the finance deal. I picked the car up and paid off the finance a few days later. There was a small amount of interest and that was that. Like Mojo says you have 14 days to cancel.

This time round buying a Yaris the 0% finance was a no brainer for me, no point using your own savings.

[Mojo1010]

Missed out on the 0% finance. Thankfully got enough to pay it all off for new car with current car not losing value after 4.5 years of ownership. 

Cyker - call Mazda parts dept, may not have to travel. 

[Mojo1010]

Update:

Received a reply from the dealer to supply card details for the refund! Did not say any deduction, so assuming full refund, let's see when that happens. Got a feeling copying Toyota uk in the email this morning may have something to do with the reply. 

Had the dealer replied and transferred to the new finance package last year then everything would of been okay. Customer service are very important as we are all aware, it seems some dealers are not so aware. Would have like to originally have the new car for march 23 plate. Now looks like it will be in the autumn for 73 plate. 

[Bob66]

6 hours ago, Mojo1010 said:

Yep jemca Bromley.

Mazda Yaris select is almost 24k, about 3k more than excel, so a no go. Regarding finance, there is no penalty for full settlement within 14 days of receiving the car, it's the law. Interest for how many days elapsed once pick up car, some may charge £10 admin fee that's all. The penalty only comes in after the 14 days, if in their terms. 

The terms regarding the deposit are they can make a deduction for the work already completed. 

Edit: RW Paris.

Taking out the finance gets the 1750 Toyota contribution, cash sales don't. So if one got the full money, pay in full after receiving car to take advantage of it, it's perfectly legal. 

Whilst they cannot legally penalise you for early settlement of finance , they can ask for their contribution to be returned!

[Mojo1010]

45 minutes ago, Bob66 said:

Whilst they cannot legally penalise you for early settlement of finance , they can ask for their contribution to be returned!

Where did u get that from? The finance contribution and settlement isn't linked. You need to show us such terms, otherwise you are scare mongering people. Doesn't scare me as I know about it. 

[Bob66]

49 minutes ago, Mojo1010 said:

Where did u get that from? The finance contribution and settlement isn't linked. You need to show us such terms, otherwise you are scare mongering people. It doesn't scare me as I know about it. 

Here is the information...that you know about !!

I reckon...Toyota would only ask for the Finance contribution to be repaid if you settled really early..so it may be worth waiting a couple of months.

[ISL]

32 minutes ago, Bob66 said:

Here is the information...that you know about !!

I reckon...Toyota would only ask for the Finance contribution to be repaid if you settled really early..so it may be worth waiting a couple of months.

You have the right to cancel within 14 days no questions asked, it is called the cooling off period where you can’t be tied into any terms and conditions. The only cost you are liable for is any interest. I have done this before to take advantage of cheaper deals. They can’t ask for any deposit contributions to be paid back.

4 years ago I took advantage of a £5000 deposit contribution from Mitsubishi and cancelled the finance agreement within 3 days. They did not request I pay back £5000.

If you wait to cancel after 14 days you are bound by the terms and conditions.

[Mojo1010]

Exactly, it's the cooling off period, cannot be tied to anything, otherwise it's an unfair term. The FCA will not allow such terms. 

[Mojo1010]

2 hours ago, ISL said:

You have the right to cancel within 14 days no questions asked, it is called the cooling off period where you can’t be tied into any terms and conditions. The only cost you are liable for is any interest. I have done this before to take advantage of cheaper deals. They can’t ask for any deposit contributions to be paid back.

4 years ago I took advantage of a £5000 deposit contribution from Mitsubishi and cancelled the finance agreement within 3 days. They did not request I pay back £5000.

If you wait to cancel after 14 days you are bound by the terms and conditions.

5k that's huge! Well done. Think Toyota offer 2500 on higher up models. 

[Bob66]

13 hours ago, ISL said:

You have the right to cancel within 14 days no questions asked, it is called the cooling off period where you can’t be tied into any terms and conditions. The only cost you are liable for is any interest. I have done this before to take advantage of cheaper deals. They can’t ask for any deposit contributions to be paid back.

4 years ago I took advantage of a £5000 deposit contribution from Mitsubishi and cancelled the finance agreement within 3 days. They did not request I pay back £5000.

If you wait to cancel after 14 days you are bound by the terms and conditions.

What are you withering on about Mitsubishi isn't Toyota....it's there in black and white..they can ask for their finance contriution to be returned !

[Bob66]

On 1/21/2023 at 10:16 PM, Mojo1010 said:

Exactly, it's the cooling off period, cannot be tied to anything, otherwise it's an unfair term. The FCA will not allow such terms. 

Omg.....you implied that you didn't believe me and that I was scaremongering....I show you it written within Toyota's PCP finance contract and you still don't believe your own eyes.... you know better huh !!

I believe that the financial contribution is an incentive to take out their PCP...and can see why they have written it in their terms...to claw it back.

Has anyone on here....RECENTLY cancelled their TOYOTA PCP  within days of taking it out...and can show us the evidence? 

[Mojo1010]

This is after the 14 days period, which they don't make it clear on that part. Suggest you read up on the cooling off period on the FCA website. 

[Bob66]

37 minutes ago, Mojo1010 said:

This is after the 14 days period, which they don't make it clear on that part. Suggest you read up on the cooling off period on the FCA website. 

You are being silly now.....of course you can cancel finance ...without being penalised, within the cooling off period.....the PCP contribution is something different....it's there in black and white.....you will cause someone to make a big financial mistake.....unless you can show the evidence ??????

You know....like the evidence you asked me for and I supplied !

[ISL]

46 minutes ago, Bob66 said:

Omg.....you implied that you didn't believe me and that I was scaremongering....I show you it written within Toyota's PCP finance contract and you still don't believe your own eyes.... you know better huh !!

I believe that the financial contribution is an incentive to take out their PCP...and can see why they have written it in their terms...to claw it back.

Has anyone on here....RECENTLY cancelled their TOYOTA PCP  within days of taking it out...and can show us the evidence?   Not pointless Mr Mitsubishi man!

 

As you mention it will be good to hear of other Toyota customers that have cancelled their PCP within 14 days, however based on my own experience 4 years ago with Mitsubishi I was not liable to pay anything back to the dealer, I was just settling in full with the finance company.

I’m just sharing my experience, that’s all, it’s good to have the debate, so hopefully somebody with a finance background can confirm one way or the other. 🍿

[Mojo1010]

32 minutes ago, Bob66 said:

You are being silly now.....of course you can cancel finance ...without being penalised, within the cooling off period.....the PCP contribution is something different....it's there in black and white.....you will cause someone to make a big financial mistake.....unless you can show the evidence ??????

You know....like the evidence you asked me for and I supplied !

A polite suggestion is to read up on finance contribution and cooling off period. 

[Cyker]

On 1/22/2023 at 10:03 AM, Bob66 said:

You are being silly now.....of course you can cancel finance ...without being penalised, within the cooling off period.....the PCP contribution is something different....it's there in black and white.....you will cause someone to make a big financial mistake.....unless you can show the evidence ??????

What are you even talking about? What do you mean by PCP contribution??

The PCP itself can totally be cancelled within 14 days - PCP *IS* a finance agreement and is covered by the FCA rules!

20 seconds of google:

https://forums.moneysavingexpert.com/discussion/5598724/pay-off-pcp-within-14-days

https://www.thecarexpert.co.uk/forums/topic/pcp-14-day-termination/

https://www.car.co.uk/car-finance/faqs/cancelling-finance/can-you-cancel-car-finance-within-14-days

And if I may say so, you should be a bit more polite when posting about something you've clearly not even taken a few minutes to research!