Exploration of Renault, SEAT, Peugeot and Vauxhall's latest finance offers.
Personal Contract Plan explained
Motor manufacturers have a wide range of offers for vehicles that can be registered on the new, “66”, registration plate from September 1st 2016. Renault, SEAT, Peugeot and Vauxhall, for example. Many take the form of a Personal Contract Plan (PCP) which is a flexible, assessable, and popular means of funding a new car.
A Personal Contract Plan typically incorporates a deposit and fixed, monthly, payments over (say) 36 months. Furthermore, the manufacturer - based on an agreed mileage allowance and market trends - estimates how much the vehicle will be worth at the end of the contract. This figure equates to a optional final purchase fee.
The motorist has options at the end of the term. The first is to pay the pre-agreed, optional, purchase fee to own it outright. The second is to return it, whereby there is no charge if it is within the mileage allowance and in reasonable condition. The third is to trade it in, then select a new car on a comparable finance package.
New Renault finance offers for 2016
The Renault Personal Contract Plan is called Selections PCP. On occasions, the manufacturer makes a contribution towards the deposit and it has raised said contribution – should a motorist take a test drive – by £500 on certain cars. The Clio is a supermini class model which qualifies for this financial incentive.
Let us consider the Clio Play 1.2 16v 75 trim. Standard – pre test drive – terms include the: 0% APR, £2,306 customer deposit, £1,000 manufacture deposit contribution, 24 monthly instalments of £159 plus the £5,553 optional final payment. The final total is £12,675.
The Renault Captur is a crossover vehicle that qualifies for the £500 incentive too. Pre test drive terms for the Dynamique Nav TCe 90 trim include the: 0% APR, £2,486 customer deposit, £750 manufacturer deposit contribution, 24 monthly instalments of £199, and the £7,663 optional final payment. The total outlay is £15,675.
The Kadjar is a sports-utility class vehicle. Dynamique Nav dCi 110 terms – pre test drive – include the: 3.99% APR representative, £1,760 customer deposit, Renault's £1,250 deposit contribution, 36 payments of £279, the £10,597 optional final payment, £99 finance facility fee and a £149 purchase fee. Total expenditure is £23,899.
The Renault Megane is a small, family class, vehicle that qualifies for the £500 incentive. Expression+ TCe 130 terms – again, pre test drive - include the: 3.99% APR, £1,830 deposit, £1,750 deposit contribution, 36 payments of £219, a £6,050 final payment, £99 finance facility fee and a £149 purchase fee. The total is £17,762.
The Renault Clio, Captur, Kadjar and Megane qualify for the £500 discount in numerous other forms too. Different engines and trims, in other words. The offer relates to retail customers, cars must be ordered by September 26th 2016 and registered by September 30th 2016.
New SEAT finance offers
The SEAT Beautifully Created Summer Drive reduces the cost of cars by £500. This Solutions Personal Contract Plan offer relates to the entire range that includes the: Mii (city class), Ibiza 5-door (supermini), Leon 5-door (small family), Leon ST (small family estate), Ateca (sports-utility) and Alhambra (multi-purpose class).
To claim £500, the motorist has to test drive a car, order by September 30th 2016 and ensure it is registered by December 31st 2016. Options include the Leon 5dr SE Dynamic Technology 1.2 TSI 110PS.
Terms include: 47 payments of £209, the £2,099 customer deposit, £10 option to purchase fee, £5,919.83 optional final payment, 4.9% APR representative, plus £2,000 that the manufacturer contributes towards the deposit. The amount paid by the customer is £17,851.83.
Consider the Alhambra S 2.0 TDI Ecomotive 150PS too. Terms – before the £500 incentive – include: 47 payments of £269, £6,173.10 deposit, £10 option to purchase fee, £10,234.73 final payment, 5.9% APR representative, plus the £2,000 the manufacturer contributes towards the deposit. The amount paid by the customer is £29,060.83.
New Peugeot finance offers
Peugeot Passport Purchase incorporates savings on a tremendous range of vehicles. The 108, for example, is a city class model reduced by £420. Further, the 208 is a supermini cut by £1,200, the 2008 is a sports-utility car slashed by £850, and the 308 and 308 SW (estate) are small, family class, models which cost £1,850 less.
Consider the 108 3-Door Active. It typically costs £10,085 before interest but is now £9,665. Other PCP terms include the: 36 monthly payments of £155, £500 deposit, £4,757 optional final payment and 4.9% APR. Peugeot calculates the total to be £10,828.36 – rather than £10,837 – so it seems the manufacturer rounds certain numbers.
The 208 3-door Active 1.6L BlueHDi 75 is available too. Let us consider some terms. Standard price: £15,315.00, offer price: £14,115.00, monthly payment: £229 (36 months), customer deposit: £750, deposit contribution: £1,040, final payment: £5,546, APR: 4.9%, total payable: £15,573.88 (the motor manufacturer suggested).
Alternatives include the 2008 Active 1.2 PureTech. The most significant terms are standard price: £15,320, offer price: £14,740, monthly payment: £213 (36 months), deposit: £1,000, deposit contribution: £625, optional final payment: £6,766 and 4.9% APR. The manufacturer said that total amount payable is £16,055.76.
There is the 308 5-door 250 By Peugeot Sport 1.6 THP too. Terms include the standard price: £27,290, offer price: £25,440, monthly payment: £394 (36 months), customer deposit: £1,500, manufacturer deposit contribution: £1,350, final payment: £11,050 and APR of 4.9%. Peugeot calculated the total amount payable to be £28,069.96.
Or, perhaps the estate. Terms – for the 308 SW GT Line 1.2 PureTech 130 – are standard price: £23,315, offer price: £21,465, monthly payment: £333 (36 months), customer deposit: £1,500, deposit contribution: £1,350, final payment: £8,796 and 4.9% APR. The total amount payable is £23,632.56 (the motor manufacturer stated).
New Vauxhall offers
The Vauxhall Test Drive Programme relates to the Adam and Corsa which are city and supermini class vehicles, respectively. Certain trims are excluded, however. The incentive is a £500 discount for motorists that test drive, buy, and register by September 30th 2016.
The Corsa Energy 1.4i 75PS A/C is available via Flexible Personal Lease, for example. Terms – prior to the £500 discount – include the advanced rental of £504 which is followed by 47 payments of £168. The total is £8,400, the mileage limit 5,000 per-annum, and the car must be returned to its manufacture at the end of the term.
The Adam Jam 1.2i 70PS can be leased too. With Black Jack paint and prior to the £500 discount, terms include the £2,320 advanced rental. This is followed by 47 payments of £145, the total cost is £9,135 and the vehicle must be returned at the end of the contract.