Finance Plans at Motorvogue
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Latest News: Hyundai Motor UK has officially announced the pricing and specification of the Tucson N Line, which will go on sale in the UK on 30th May. The Tucson N Line features exterior elements inspired by Hyundai’s N range of high-performance models, with bespoke front and rear bumpers, dark mesh-pattern grille with a dark chrome surround. The 19” alloy wheels, door mirror housings and rear spoiler are all finished in glossy black, to further emphasize the car’s sporting attitude. Black-bezel headlamps, unique LED daytime running lights and darkened window frames in combination with body-coloured door handles also create a more dynamic look for the Tucson N Line Interior changes for Tucson N Line include N-branded leather-suede sport seats with red accent stitching, which is also carried over to the N branded leather steering wheel. Alloy pedals and the leather-wrapped, red-accented N gear shift lever are also part of the Tucson N Line’s sporting enhancements. As well as external and interior styling changes, Tucson N Line T-GDi models feature dynamic modifications over regular Tucson models, with changes to the motor driven power steering software giving a more direct, linear feel at the wheel and further adjustment to suspension settings providing a 5% greater rigidity in the rear setup and an 8% increase at the front.  Prices will start from £25,995 for the Tucson N Line N Line 1.6 T-GDi 177ps 2WD manual, which in addition to the N Line specific equipment, also offers heated and height adjustable front seats, with an electrically adjustable drivers lumbar support, keyless entry with start/stop button, black cloth headlining, climate control, automatic dimming rear view mirror, front and rear parking sensors, electric parking brake and privacy glass also feature as standard specification. As with all Tucson models, the Tucson N Line offers a high level of standard safety equipment, with an Active Bonnet System, Lane Keep Assist, Autonomous Emergency Braking, Downhill Brake Control, Hill Start Assist Control, Trailer Stability Assist, Speed Limit Information Function and Tyre Pressure Monitoring System with Individual Tyre Pressure Display featuring on all models. Standard technology and connectivity equipment also feature with a 8" Touchscreen Display DAB Audio with Traffic Messaging Channel, Mapcare and LIVE Services and Smart Device Integration supporting Apple Carplay™ and Android Auto™. The Tucson N Line also sees the introduction of the all-new 1.6 CRDi 48 Volt Hybrid, which will be available from the SE Nav trim level and replaces the conventional 1.6 diesel powertrain option. The technology designed for electrification comprises a 0.44 kW/h 48-volt lithium-ion battery, a Mild Hybrid Starter Generator (MHSG), a LDC converter (Low Voltage DC/DC) and an inverter. Under acceleration, the MHSG supports the engine with up to 12 kW of power, reducing fuel consumption and emissions, with the system switching automatically between mechanical use of the engine and energy recuperation. The MHSG assists the combustion engine by discharging the battery to reduce engine load with light acceleration, or to provide additional torque to the engine under strong acceleration. During in-gear deceleration and braking, energy is recuperated to recharge the battery. Tucson N Line is available in a choice of 7 colours; solid finish choices of Polar White or Engine Red, or the metallic and pearl finishes of Olivine Grey, Micron Grey, Phantom Black and Fiery red. The special paint finish of Shadow Grey, first seen on i30 Fastback N, is also available at the same £665 option cost of the metallic or pearl paint finishes. Ashley Andrew, Managing Director, Hyundai Motor UK said “The Tucson N Line is the first model outside of the i30 family to receive some of the N magic and gives our customers the desirable package of hot hatch style, sportier handling and SUV practicality. The N Line trim has been well received by customers since its introduction last year on i30 and combining this with the always popular Tucson range gives us the confidence that this won’t be a model that customers take long to decide upon” All Tucson N Line models come with Hyundai’s industry leading 5 Year Unlimited Mileage Warranty, Roadside Assistance package, 5 Year Annual Health Check, and 12 Year Anti Corrosion Warranty. Models start from £25,995 and include: Tucson N Line Specification ENGINE & TRANSMISSION1.6 CRDi 48 Volt - 6 Speed Manual Transmission - 2WD (136PS)1.6 CRDi 48 Volt - 7 Speed DCT Transmission - 2WD (136PS)1.6 T-GDi - 6 Speed Manual Transmission 2WD (177PS)1.6 T-GDi - 7 Speed DCT Transmission 2WD (177PS)EXTERIOR19" Alloy WheelsBumpers - Body ColouredDoor mirrors with Integrated Indicators - BlackExhaust - Twin FinisherExterior Door Handles - Body ColouredN Line BadgingN Line Exclusive Front & Rear BumpersN-Line GrillRoof Rails - BlackSide Body MouldingSolid PaintINTERIOR STYLINGInterior Door Handles - Chrome EffectN Line Branded Gear StickN Line Branded Leather Wrapped Steering WheelSEATINGAdjustable Head RestraintsDriver's Seat Height Adjustment (Manual)Driver's Seat Lumbar Support (Electric)Front Passenger's Seat Height Adjustment (Manual)Front Seats - HeatedN Line Leather & Suede SeatsRear Seats - Reclining (Manual)Rear Seats - Split Folding (60/40)VENTILATION & VISIBILITYAdjustable Intermittent Front Windscreen Wipers with Aero Wiper BladeAir Conditioning - Climate Control (Dual Zone)Automatic Headlights with Dusk SensorAutomatic Windscreen Wipers with Rain SensorCornering Lights - StaticDaytime Running Lights - LEDDoor Courtesy LightFog Lights - FrontHeadlights - Halogen ProjectorInterior Light - Luggage CompartmentInterior Light - Map Reading LightPositioning Lights - LEDPrivacy Glass - Rear Windows and TailgateRear Lights - LEDTinted Glass with Windscreen Shade BandCONVENIENCE12V Power Outlets in Front Console and Luggage CompartmentArm Rest - Front with StorageArm Rest - Rear with Cup HoldersBottle Holders - Front Centre Console and DoorsCruise Control with Speed LimiterDoor Mirrors - Electric Adjustment and Heated with Power Folding FunctionDrive Mode Select - (Automatic Transmission and DCT only)Electric Windows - Front and Rear with Anti-Trap Mechanism and One Touch Control (Driver Window)Flex Steer - (Manual Transmission only)Glove Compartment - Illuminated with Cooling FunctionLuggage CoverLuggage HooksLuggage NetParking Brake - ElectricParking Sensors - FrontParking Sensors - RearParking System - Rear CameraSmart Key - Keyless Entry with Engine Start/Stop ButtonSpare Wheel - Temporary Space Saver (Steel)Sun Visors - with Driver and Passenger Illuminated LED Vanity MirrorsSunglasses HolderTyre Repair Kit (all 48v variants)Windscreen Washer Fluid Sensor and Warning IndicatorTECHNOLOGY & ENTERTAINMENTBluetooth® ConnectivityDigital ClockPhone Connection - Android Auto™Phone Connection - Apple CarPlay™Radio - Digital DABSpeakers - 2 Tweeters, 2 Front, 2 RearSteering Wheel Audio and Phone ControlsTouchscreen Satellite Navigation (8") including Traffic Messaging Channel, Mapcare and LIVE ServicesTrip ComputerUSB and Aux Connections - FrontSAFETY & SECURITYActive Bonnet SystemAirbag - Front Passenger De-Activation SwitchAirbag - Rollover Sensor (Curtain)Airbags - Front, Front Side & Curtain AirbagsAnti-lock Brake System (ABS)Autonomous Emergency Braking (AEB)Brake Assist System (BAS)Central Locking - Remote ControlChildproof Rear Door LocksDeadlocksDownhill Brake Control (DBC)Electronic Stability Programme (ESP)Emergency Stop Signal (ESS)Hill-start Assist Control (HAC)ImmobiliserISOfix Child Seat Anchorage Points - Rear (outer seats only)Lane Keep Assist (LKA)Locking Wheel NutsPerimeter AlarmSeatbelt Pre-tensioners - FrontSeatbelt Reminder - Front & RearSeatbelts - Height Adjustable Driver and Front PassengerSpeed Limit Information Function (SLIF)Speed Sensitive Automatic Door LockingTrailer Stability Assist (TSA)Tyre Pressure Monitoring System (TPMS) with Individual Tyre Pressure DisplayVehicle Stability Management (VSM)PERFORMANCESports SuspensionCUSTOMER OPTIONSMetallic / Pearl PaintWARRANTY12 Years' Anti-Perforation WarrantyFive Year Annual Vehicle Health ChecksFive Year Unlimited Mileage WarrantyHyundai Roadside Assistance

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
Hyundai
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Interchange Park, Bedford, MK42 7GB

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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 a lender, for the introduction to a limited number of finance providers and to act as an agent on behalf of the insurer for insurance distribution activities only.

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