Financing or not?

[Percymon]

You could always part fund from cash and part fund from a personal loan (under 3% currently) if you didnt want to break into some investments or feel your money could earn more than 3% elsewhere

[Rashg60]

I am also a cash buyer on all my cars and when purchasing via any dealership, they always try and push me towards finance. Initially I always refuse, saying I've got the cash. Then the balls in my court and I always ask for further incentives if I went for their finance deal instead (playing this card reluctantly so they offer incentives). Once incentives have been agreed, I take out the finance deal with them and then pay the finance company off after the first monthly payment has gone through. Simples!

So you paid off just the outstanding loan capital plus one month's interest (and the first installment) - hope that makes sense ....

Correct.

[Rashg60]

^^^ Hopefully there wasn’t much of an early repayment penalty (I.e. hopefully virtually all of the interest that you would’ve paid over the full term, was waived).

No early repayment charges at all (unlike mortgages).

I've also done this with several other credit agreements, for example when purchasing sofas etc.

I'm pretty sure the law has changed regarding early repayment fees on most loans etc. I believe only mortgages now charge early repayment fees.