New drivers might be tempted to buy the cheapest old banger possible after passing their test, but there’s no need to trawl the cars for sale in the UK. Instead, why not take advantage of some astonishing savings on something brand new instead?
You might not be able to buy that new car outright, yet there are tonnes of great finance deals to pick from. Pony up a couple of thousand or so as a deposit and you’ll have a brand new car on your drive from around £200 a month.
You certainly wouldn’t be alone as more than 90% of new cars are acquired on finance. Even so, research has shown that only 56% of people fully understand what PCP finance is.
Put simply, a lease is like a long term rental in that you never own the car and give It back to the finance company at the end of your term. A PCP is different in that you can purchase the car at the end of the term by paying a final balloon payment, hand it back to the manufacturer and walk away, or roll everything over into a new PCP deal.
In this article we’ll take a look at the three best manufacturers when it comes to finance. Offering keen interest rates, no deposit deals, deposit contributions and even all three in some cases, manufacturers are clamouring to give you a great deal.
Three of the easiest to understand and most tempting finance offers involve no deposit deals, 0% APR and sizeable deposit contributions from the manufacturer. Any one of these would help get people into showrooms, but Renault goes much further by offering all three at the same time.
Yes, you really can wander into a Renault showroom and walk out with the model of your choice without stumping up a deposit, get money off the model of your choosing and dodge paying interest for the length of the PCP. You can even get 0% APR without a deposit and free servicing for two years on one of its latest models the Arkana coupe SUV.
If you can, paying some deposit will help bring the monthly payment down, but it’s handy that Renault caters for people unable to do so.
Mazda hasn’t historically offered great finance deals, yet it’s made great strides to become thoroughly recommendable. All Mazdas are available with 0% APR finance, from the 2 supermini, all-electric MX-30 and CX-5 SUV, there’s a deal for every one.
As a further carrot, Mazdas also come with big deposit contributions, making the overall deposit required much easier to swallow than some 0% APR deals.
Like the two aforementioned manufacturers, SEAT also loves a 0% APR deal. After all, it gives the customer what they want with a handy boost in sales, too. In fact, almost every model in the SEAT range is available with 0% finance. That gives you a wide range of hatchbacks, SUVs and estates to pick from.
Given that they also have some generous deposit contributions and servicing packages thrown in as well, it’s easy to see why SEAT is worthy of consideration.