My New Year with Jaguar Finance
I’m getting excited as January 2017 is nearly upon us and that means I will be getting my brand new Jaguar F-Type Coupe with Jaguar car Finance. I’ve read all the articles been on the test drive and I’m just sitting here now itching for it to be delivered.
It is an absolutely fantastic and dynamic sports car and I think Jaguar can be proud of is as they have excelled with this one. It first came out as an open top convertible and was then followed a year later by the coupe which is the one I’m getting. The design is sleek and modern however it also keeps the sixties features of the lengthy bonnet. I think the style of the wheel arches and the size of the wide tyres makes it look altogether a masculine car. Its large front grill almost shouts power to you.
When I took the test drive I found that the rear wheel drive made handling very easy and even at high speeds I didn’t feel like I was about to take off the road. I’ve opted for the standard F type engine although there are another 3 sizes however I felt the standard was ample power.
The good looks are not all on the outside either as the interior is elegant and every bit the drivers car. I jumped a little as when I started engine the air vents rise on the top of the dash. The gear leaver is sleek and every switch is smooth and neat. Alongside the leather seats this was truly luxurious and I would add that being 6 ft I sometimes have difficulty with there being enough room but this car was really spacious.
What is the deal with Jaguar Finance?
In order to get my new Jaguar F-Type Coupe I set up a deal with Jaguar Finance. Now I wouldn’t have thought about going for finance through the dealer however when the salesman told me they were offering a fantastic 0% finance over 35 months I just couldn’t believe my luck and it definitely got them the sale.
The Jaguar F-Type Coupe comes in for around £52,000 for the 3.0 litre engine which I was going for. The dealer required a deposit of just over £18,000 which I secured by selling them my old Jaguar. So the credit I was having was approx £33,000 and this was to be paid in 35 monthly instalments of just over £900 with of course the 0% interest.
Mercedes E Class Finance Returns Standards
A few years ago I used Mercedes E Class Finance to acquire a brand new Mercedes with a deal called Agility. Agility was a personal contract plan which allowed me to finance my new car but it was flexible and it gave me the option of either purchasing the car at the end of the agreement or handing in back or even part exchanging. At the end of the agreement I decided to hand the car back however I was not totally ready for all the checks that Mercedes put in place before taking back the car without me incurring any charges. So I thought it would be a good idea to outline for you some of the things they inspect when you return the car.
You firstly need to be aware of their Vehicle Return Standards which is a comprehensive booklet that outlines everything they consider. The booklet is given to you with the aim of preventing you being charged for minor problems such as headlamp bulbs not working and it outlines what they consider is acceptable / unacceptable damage.
What Mercedes E Class Finance considers acceptable and unacceptable damage
Firstly there is the body work and paint and obviously the car is now maybe 3 years old and there is going to be some light damage maybe surface paint chips from motorway driving and they say this is acceptable. However there are any major dents or damage that has gone down to the base coat of paint then they will charge you for the repair. It may be an idea to get this sorted with and independent bodywork specialist before you return the car as the Mercedes dealer will charge high amounts for this type of repair.
If you have any chips on the windscreen as long as they are under 5mm and are not impairing the drivers vision then they are acceptable. However any cracks in the windscreen bigger than 5mm or look like they will crack further are deemed unacceptable. The same goes for the head lamps as long as a cracks do not let in water or impair the head lamp then they are ok but there should not be holes.
I’ve outline just a few things that you should look at before returning the car however I would recommend that you go through the booklet vehicle return standards to make sure you don’t get charged.
Hire Purchase with Porsche Finance
You may think that Hire Purchase is a little out of date and it isn’t available these days but you would be wrong. Although it is not that popular a way to finance your new vehicle it is still out there and it does have some really good benefits.
With Porsche Finance a Hire Purchase deal can be more manageable than a personal contract purchase plan and it is well worth considering. Really getting your car with hire purchase is very much like getting a loan or a mortgage. Yes you have to pay down the initial deposit which can be between 10% and 20% of the actual cost of the car. You then pay in agreed monthly instalments until it all paid up sometimes this can range from 1 to 5 years.
I can almost hear you saying that sounds a little bit like other finance deals but you’d be wrong in thinking that. Other deals can demand a final balloon payment and the monthly payments only pay off the interest of the loan. Also with HP you don’t have to return the car at the end it is yours.
HP Advantages and Disadvantages with Porsche Finance.
The main advantage of a Hire Purchase agreement for Porsche finance is that it that it is really simple and you know that at the end of the term of contract the car is yours. Often you will find that the initial deposit is quite low too sometimes it can be as low as 10% of the value of the car. You also have the flexibility of deciding how much you want to pay each month and then choosing the number of monthly payments you want to make. With this you can opt for a shorter term with high payments or the longer term with lower payments. However you need to be aware that the longer the term then the higher amount of interest you will be paying.
One of the disadvantages of Hired Purchase compared with other deals is that over the time you make the monthly payments they will tend to be higher than other deals such as PCP. However don’t forget there is not balloon payment and the car is yours at the end making it more desirable.
As Hired Purchase is no longer that popular then interest rates tend to be higher than for other deals. But if you shop around you can still get a good deal and Porsche Finance certainly offers competitive rates.