Peugeot's brand new small cars now available to teenagers on finance thanks to telematics, real-world, monitoring.
Single payments cover every significant motoring cost
The Peugeot Just Add Fuel finance package has been extended to cover motorists aged 18 to 21 that choose a 208 or 2008. The strength of this plan – that is now available in Northern Ireland also - is that the monthly payments cover all major motoring costs.
How Just Add Fuel works
A car can be obtained via a lease whereby it has to be returned at the end of the contract. Alternatively, the purchase contract option enables ownership to be transferred via an optional final payment. The total of this payment is set at the start of the term.
Whether lease or purchase, the monthly instalments cover the price of the car plus: insurance for up to 3 people, vehicle excise duty, European breakdown roadside assistance, the warranty and servicing.
Peugeot emphasises the following benefits:
- No need to budget separately for insurance, servicing, road fund licence and roadside assistance costs as they are all included;
- No need to search for cheaper insurance each year – it stays the same over the 3 year term;
- Fixed price motoring for 3 years means complete peace-of-mind;
- A completely transparent motoring package with no hidden costs (representative 4.9% APR);
- The opportunity to drive a new car every 3 years with no MOT or other costs to worry about
Peugeot installs telematics to monitor motorists
Peugeot has been able to extend Just Add Fuel by incorporating telematics that monitors how its vehicles are driven.
This, of course, encourages youngsters to behave appropriately. Monitored parameters include: speed, acceleration, deceleration and g-force.
With the 208 and 2008, telematics has to be installed by a technician which is a simple task. Telematics also recently became available on the 108 – although in its case it has to be fitted by drivers via the on-board diagnostics port under the steering wheel.
The telematics scores each trip from 1 to 100. The insurance company then calculates an aggregate score and, if necessary, “feedback is provided” to emphasise the importance of safe driving.
Furthermore, if the aggregate score falls below a reasonable threshold motorists receive a warning. Those that receive 4 warnings within a year have their insurance policy cancelled.
Just Add Fuel is “significant” innovation, Peugeot says
Mark Pickles, Peugeot UK Marketing Director, claimed: “Just Add Fuel is recognised as the most significant innovation in vehicle retailing for many years, and this now extends to potential owners of 208 and 2008 vehicles (as well as the 108).”
He added: “Our Dealers have experienced an increase in retail sales to adults over 18 years of age since the launch of our new telematics product.”