Finance Plans at Motorvogue
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Latest News: Hyundai Motor have announced that NEXO will be the name of its all-new, dedicated Fuel Cell EV during a press conference at CES 2018, and disclosed Advanced Driver Assistance Systems (ADAS) that expand its autonomous driving potential. NEXO is the technological flagship of Hyundai’s growing eco-vehicle portfolio and marks Hyundai’s continued momentum toward having the industry’s most diverse CUV powertrain lineup. The NEXO model will spearhead Hyundai Motor’s plans to accelerate development of low emission vehicles, in line with Hyundai Motor Group’s renewed goal of introducing 18 eco-friendly models to global markets by 2025. This new development roadmap also represents the next step for Hyundai Motor towards realising the ultimate ambition of creating a cleaner environment through eco-friendly vehicles. Blind-spot View Monitor (BVM) Hyundai’s Blind-spot View Monitor is an industry-first technology. It shows drivers on a center cluster screen the rear and side views of NEXO using cameras while changing lanes in either direction. The system uses wide angle surround view monitors (SVM) on each side of the vehicle to monitor areas that cannot be seen by a traditional rearview mirror. Hyundai is the first automaker to provide drivers video footage from both sides of the vehicle. Lane Following Assist (LFA) and Highway Driving Assist (HDA) Lane Following Assist is an all-new technology for Hyundai and it debuts in the NEXO. LFA automatically adjusts steering to help keep NEXO centered in its lane of travel. LFA can keep NEXO centred at speeds between 0 and 90 miles per hour on both highways and city streets. When paired with Hyundai’s Highway Driving Assist (HDA) which utilizes sensors and map data to ensure safe operation as well as automatically adjust speed in limited environments, drivers will be able to traverse long distances with greater ease and improved safety. Remote Smart Parking Assist (RSPA) RSPA enables NEXO to autonomously park or retrieve itself from a parking space with or without a driver in the car. The RSPA system can even back a NEXO into a parking spot by itself with a touch of a button from the driver. When faced with any challenging parking scenario, NEXO drivers will be able to park with complete confidence and accuracy. Hyundai NEXO “Hydrogen energy is the key to building a more sustainable society. Hyundai Motor Company has already taken a lead in hydrogen technology with the introduction of the ix35 Fuel Cell,” said Dr. Woong-chul Yang, Vice Chairman, Hyundai Motor Company. “I am so proud to introduce to you our second-generation Fuel Cell Electric Vehicle which is a culmination of our cutting-edge technologies.” NEXO is Hyundai’s second-generation of commercialised fuel cell electric vehicle that will be available in select markets around the world starting in early 2018. Improving upon the acclaimed ix35 FCEV, the NEXO has an estimated driving range of 500 miles (NEDC) – 134 miles more than its predecessor. Acceleration and power have increased to improve the overall performance. Designed to handle extreme temperature and environments, the NEXO testing has proven that the vehicle is capable of starting after being subject to overnight temperatures of -20 degrees Fahrenheit. NEXO boasts cold start capability within 30 seconds which is an industry-leading achievement and the fuel cell system warms up faster for maximum performance. The NEXO also has excellent cooling performance on steep grades with temperatures exceeding 120 degree Fahrenheit. Improvements in the air supply system, performance at high altitudes and refueling times, along with overall efficiency and fuel economy put the NEXO in a class all its own. In addition the NEXO has improved power density and durability comparable with petrol-powered vehicles. Dedicated Architecture For the first time, Hyundai’s fuel cell vehicle is built with a dedicated vehicle architecture. This architecture has many benefits including: Lighter weightImproved power-to-weight ratioFaster acceleration from 0 to 60 mph than the ix35 fuel cellMore cabin spaceAllows the battery to be relocated to the trunkImproved fuel cell system layoutNEXO vs. ix35 Fuel Cell System Architecture NEXO’s fuel cell stack and battery have more net power to supply a more powerful motorNEXO’s powertrain is lighter and has improved packagingImproved hydrogen storage tanksPowertrain Improvements NEXO’s powertrain is lighter and takes up less space compared with the ix35 Fuel CellMore efficientBetter module integrationSmallerLighterDrivability Peak acceleration is increased by 25 percent compared with the ix35 Fuel CellNEXO accelerates from 0 to 60 mph 20 percent faster than the ix35 Fuel CellNEXO has more torque than the ix35 Fuel CellRange NEXO has 40 per cent more range than the ix35 Fuel CellNEXO has an estimated range of 500 miles compared with the ix35 Fuel Cell 369 milesQuiet and Comfortable Driving Characteristics NEXO maintains the quiet and comfortable driving characteristics of the ix35 Fuel CellAll of the NEXO’s moving parts are inside the engine bay which isolates the noise to one areaDurability NEXO has the same level of durability as internal combustion engine vehiclesHydrogen Storage NEXO’s storage system is lighter than the ix35 Fuel CellNEXO’s storage system has world-class storage densityNEXO can be refueled within five minutes

Finance Plans Explained at Motorvogue

From PCP to hire purchase, here's everything you need to know about financing your next car. 

Car finance might seem daunting, but in reality it's just a simple two-stage process.

The first stage is to decide on the type of car deal you want: loan, lease, hire purchase, or dealer finance. Then it's a simple matter of choosing the provider whose product best suits your needs.

Personal Contract Hire (PCH)

The word 'Hire' tells you what PCH is all about. Basically you're renting a car for (typically) two or three years, with an agreed mileage limit of (typically) 10,000 miles a year. There's no option to buy the car at the end of the contract; you just hand the keys back to the finance provider. In effect, your payments are only covering the car's depreciation.

While you're running it, you're responsible for the car's upkeep. On the plus side, the deposit is low (three or six months' rental is common), as are the fixed monthly repayments, and you can blunt the impact of repair bills by incorporating a maintenance element into the agreement. Check that a separate manufacturer servicing package won't be cheaper before you tick that box, however.

Cars that hold their value well are a good PCH option, because the difference in their new and three-year-old values will be smaller, so you'll repay a lower amount. Cars that plummet in value from new are a bad choice, because you'll repay a much larger amount.

Just as with PCP, you'll need to make sure the car is in good condition when you hand it back, or you could face additional fees as the finance firm cleans it up.

Go for PCH if you say yes to one or more of these statements:

You don't want to own a car, or suffer its depreciation
You like being able to change cars frequently
You like the idea of driving better cars than you could normally afford
You don't mind looking after cars

Personal Contract Purchase (PCP)

It's a bit like HP in that there's a deposit to pay, a fixed interest rate, and monthly repayments over a choice of lending terms, which are usually between 12 and 36 months.

Where PCP differs from HP is at the end of the term. Then you'll have three choices. You can:

  • Return the car to the supplier
  • Keep the car
  • Trade the car in against a replacement

The first option, returning the car, costs nothing, unless you've gone over an agreed mileage or failed to return it in good condition. In either case there'll be an excess to pay.

Keeping the car means making a final 'balloon' payment. This amount is the car's guaranteed future value, or GFV, which is set at the start of the agreement.

The GFV is based on various factors, including the length of the loan and the anticipated mileage as well as the car's projected retail value. If you exercise this final buying option, you can of course keep running the car, or you can sell it, pocketing any equity above the GFV that you've paid back to the lease company.

If you're trading the car in, any GFV equity can be used as a deposit towards the next one.

Just bear in mind that the GFV doesn't always contain a huge amount of equity at the end of the term - so when you're working out monthly costs, it's probably wise to factor in a few extra pounds per month that you can put away in preparation for the next deposit at the end of two or three years.

If the car has gone into negative equity – which can happen – you'll have to find all of that deposit if you want a further PCP. Shorter leases are more likely to come with more accurate GFVs and manufacturers are quite proactive in trying to get you out of a car early if they think there's scope to get you into a new one on a decent monthly rate; it's not uncommon dealers to call customers on three-year deals about a year early - because doing a new PCP keeps the buyer tied to that manufacturer for a further period of time.

Go for PCP if you say yes to one or more of these statements:

  • You want lower monthly repayments
  • You like the flexibility of options at the end of the agreement
  • You can confidently and accurately nominate your mileage

Hire Purchase

Under HP agreements, there's a deposit to pay – typically 10% – followed by fixed monthly payments. The car is owned by the HP company until the final payment – and any 'option to purchase' ownership-transfer fee – has been paid. Up to that point, the person making the payments has no legal right to sell the vehicle.

Nevertheless, some 'owners' do sell 'their' cars before the final payment. The good news for buyers of these 'non-paid-up' HP cars is that the law clearly protects private purchasers who buy without notice of any undischarged HP agreement.

No matter what the police or anyone else might tell you, you'll get a good title to the car if you buy an HP car under these circumstances. The finance company can take action against the seller if they wish, but it's not your problem.

The credit on an HP agreement is secured against the car, so it's like dealer finance in that the only the car can be seized in the event of a default. If you need to sell the car before the end of the agreement, you'll have to repay the outstanding debt first – and 'early settlement' fees may apply.

Go for HP if you say yes to one or more of these statements:

  • Eventual ownership is important to you
  • Your budget and circumstances suit fixed monthly repayments
  • Your disposable income is likely to decrease over the agreement term (eg if you're planning a family)
  • You like low-risk credit secured against the car only
  • You don't mind not owning the car until the debt is fully repaid
Motorvogue Bedford

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TEL: 01234 867788


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TEL: 01553 772644


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Motorvogue (Northampton)Ltd is an Appointed Representative of Automotive Compliance Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA No 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Motorvogue (Northampton)Ltd to act as a credit broker, not as lender, for the introduction to a limited number of finance providers and to act as an agent on behalf of the insurer for insurance mediation activities only.