Are we dreaming? New city cars for £100 per-month?
Are we dreaming? New city cars for £100 per-month? Surely not. Well, let's pinch ourselves awake and check-out the likeable Peugeot 107 1.0-litre Urban Lite 3dr. This popular run-around is listed, on a personal contract hire agreement, for rock-bottom payments of £99 per-month. That said, this forty-six month contract's 'initial rental' payment is rather more - £1,553 to be precise. Still small numbers for a brand new car though. Once customers sign on the dotted line they can cover 6,000 miles per-annum.Alternatively, motorists might get out of bed for the Smart Fortwo Coupé. This memorable machine is available on a personal contract purchase agreement. So, pay the £1,870 deposit – then a further thirty-six instalments of £99. The 'representative APR' is a pleasing 5.8%, so the interest charges are reasonable. At the end of the contract either return the vehicle, or settle the £3,840 optional final payment to own it outright. The ForTwo's mileage allowance is 10,000 per-annum, considerably more than the Peugeot's. The final personal contract purchase plan relates to the Volkswagen Polo, which is more premium supermini than city car. This class-leading mile-muncher could be parked outside your bedroom window for thirty-four payments of £99, plus the £2,815 deposit. The representative APR is 7.9%, so again the interest charges are sensible. It even comes with a healthy mileage allowance. If you choose to keep the Polo beyond the contract, the final payment will be £4,400. Now, did I just write this article or is it a dream?