As the current economic climate is piling pressure on the family purse strings and savvy shoppers are bargain hunting for everything from petrol to potatoes, buying a brand new car can provide some real savings - but how best can this be funded?
Research has proved that you can actually reduce your annual motoring costs by purchasing a brand new, fuel efficient and low emissions vehicle. We asked Peugeot's experts to highlight the best 'buying new' options to suit every budget.
Buying a car through Peugeot Passport PCP is the perfect way to keep your options open. Passport offers the flexibility to hand the car back after an agreed term with no further payments (subject to certain mileage and condition requirements), pay a final payment and keep the car or part exchange the car, for a new one with a new Passport agreement.
Peugeot offers traditional finance, with its Hire Purchase (HP) scheme, where you can put down a variable deposit (usually between 10-50% of the vehicle's value) and set the payment term to suit your budget (up to five years), but a more popular one is Peugeot’s Passport finance which offers a variable deposit of between nil and 40% of the vehicle price. The payment is fixed depending upon the term and annual mileage.
Buying a new Peugeot car through traditional finance (HP) does not tie you into a specific mileage and still offers low monthly payments. By switching to a low-emissions HDi diesel car from Peugeot you could also save money on fuel costs and Vehicle Excise Duty (VED).
Chris Cheetham, Manager Commercial Programmes at Peugeot, said: "Drivers running older cars often find themselves facing hefty bills for VED, servicing and maintenance. In the current economic climate, receiving an unexpected bill for repairs of say, £1,000 is difficult to cover.
"Purchasing a brand new car, with a more fuel efficient, low emission engine is a great way to reduce monthly motoring costs. Customers also have the peace of mind provided by a three-year warranty and will not require an MOT until their car reaches three years old," he added.
Current offers available through Peugeot Passport finance include:
- Peugeot 308 hatchback, available with typical 2.9% APR and a customer saving of up to £1,265 (on selected models)
- Peugeot 107, available at 5.9% APR and a customer saving of up to £518 (on 5-door models only)
- Typical 2.9% APR available on the Peugeot 207 hatchback (on selected models)