Finance Plans at Motorvogue
Read More 

Latest News: Renault wins Electric Vehicle Manufacturer of the YearRenault commended for City Car Manufacturer of the Year Renault ZOE has the longest range of any mainstream EV on sale today at 250 miles (NEDC) Renault Kangoo Van Z.E.33 recently upgraded with improved range, 170 miles (NEDC), and charging times Renault EV line-up to expand in 2018 with the addition of Master Z.E. panel van Renault is Europe’s leading EV manufacturer Renault has been awarded the title of Electric Vehicle Manufacturer of the Year at the 2017 GreenFleet awards held at a ceremony in Coventry last night. Renault was also commended in the City Car Manufacturer of the Year category.  Renault offers a range of affordable all-electric cars and vans – including the ZOE with its 250 mile (NEDC) range, the most of any mainstream electric car on sale today, and the recently-upgraded Kangoo Van Z.E.33 with a near 60 per cent improved range of 170 mile (NEDC).  Renault is Europe’s leading electric car and van manufacturer.  Every year, the GreenFleet Awards recognises organisations which have successfully adopted low emission vehicles and innovative fuel saving solutions into their fleets, along with the manufacturers and innovators of low carbon technologies. Angela Pisanu, editor of GreenFleet magazine, said; “The winner this year has had their experts come up with new battery technology that has enabled them to increase the range on their small car and van EV offering… With the capability to go for 250 miles on a single charge in the car, and 170 in the van, they are set to revolutionise the EV market with a new larger offering in 2018 too”. Vincent Tourette, Managing Director, Renault UK, said of the result: “Renault has an affordable range of all-electric cars and vans with class-leading ranges that are available, not in a few years’ time – but today. And this latest award of Electric Vehicle Manufacturer of the Year from GreenFleet is a fantastic recognition of that. Renault was a pioneer of the all-electric market and is Europe’s leading EV manufacturer.  With one in four EV sales in Europe a Renault, it’s clear that our range of affordable all-electric vehicles is resonating with buyers and we’ll be expanding our line-up with the new Master Z.E. panel van next year.” The Renault ZOE was upgraded in 2017 with the new Z.E.40 battery, increasing the ZOE’s range by 50 per cent to 250 miles (NEDC) – Renault estimates that in real-world driving conditions that this equates to around 186 miles in summer and 124 miles in extreme cold winter conditions. ZOE can charge from zero to 80 per cent full in as little as 60 minutes thanks to its patented Chameleon Charger™ that allows it to make the most of the widest range of power supplies and also keep charging times to a minimum. Renault’s Range OptimiZer technology ensures ZOE is highly efficient with its heat pump – as standard – a bi-modal braking system and Michelin ENERGY E-V tyres.  ZOE is available to purchase in two ways. Firstly, under a battery hire scheme, where ZOE pricing starts at £14,245 (OTR) after the Government Plug-in Car Grant with battery leasing from £49 per month. New for 2017 is the ‘Unlimited’ option with no mileage cap, priced at £110 per month. It is easy to purchase a used ZOE with a battery lease – the new owner simply chooses which leasing option suits their needs the best and starts monthly payments based on their lease plan. You can also buy the ZOE outright. ZOE i ‘full purchase’ models start from £18,995 (OTR) after the Government Plug-in Car Grant, giving the buyer full ownership of the car and battery and no monthly battery lease payment. ZOE is the best-selling electric vehicle in Europe and more than 4,500 ZOE have been sold since launching in the UK in 2013. ZOE is one of three models in Renault’s diverse electric vehicle range which also includes the Twizy quadricycle, the Kangoo Van Z.E. and the forthcoming Master Z.E. large panel van. The Renault Kangoo Z.E.33 was upgraded in the Autumn. With the new Z.E. 33 battery, range was increased by nearly 60 per cent to 170 miles (NEDC) – the longest range of any electric van currently available for delivery. The New Renault Kangoo Van Z.E. 33 range is priced from £14,194.67 (after Plug-in Van Grant, excluding VAT). This award from GreenFleet adds to other recent awards Renault has received for its all-electric line-up: What Car? Best Electric Car 2017 – Renault ZOEWhat Car? Best Used Green Car 2018 – Renault ZOEAutocar Game Changer 2017 – Renault ZOEParkers Eco Car of the Year 2018 – Renault ZOEPure Electric and Hybrid Cars Green Apple Champion 2017 – Renault ZOE

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

Interchange Park, Bedford, MK42 7GB

TEL: 01234 867788

    


Fiat  Abarth  Alfa Romeo  Jeep  Seat  Hyundai
Motorvogue Bedford
Motorvogue Northampton

74 Kingsthorpe Road, Northampton, NN2 6HE

TEL: 01604 714555

    


Fiat  Abarth  Alfa Romeo  Seat  Suzuki
Motorvogue Northampton
Motorvogue Clapham (Bedford)

87 High Street, Clapham, Bedfordshire, MK41 6AQ

TEL: 01234 354257

    


Renault  Dacia  Citroen
Motorvogue Clapham
Motorvogue Kings Lynn

Scania Way, Hardwick Industrial Est, King's Lynn, Norfolk, PE30 4LP

TEL: 01553 772644

    


Fiat  Abarth  Alfa Romeo  Jeep  Renault  Dacia 
Motorvogue King Lynn

CONSUMER CREDIT & GENERAL INSURANCE
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.