This means you can drive away in one of the best five-door hatchbacks available in the UK for a deposit of PS169 and then 47 monthly payments, also of PS169, plus final guaranteed future value
. Metallic paint is also included in the price.
Saud Abbasi, General Manager, Al-Futtaim Motors - Lexus said: "We are confident our Personal Contract Purchase solution will be popular with those customers who need flexibility, low monthly installments and guaranteed future value
for the vehicle at the end of the agreement.
Alternatively you can visit our new website: www.drivespringfield.com This is what you'd pay Monthly Payment -pounds 147, Customer Deposit -pounds 147 , Advance -pounds 8,122, Total Amount Payable -pounds 9,341.85, Guaranteed Future Value
-pounds 3,891, 5.9% APR
Q I'M confused by car finance deals which quote a "minimum guaranteed future value
For example, dealers can offer Personal Contract Products (PCPs) which can include a guaranteed future value
, ensuring that no one ends up out of pocket.
PERSONAL CONTRACT PURCHASE is similar to HP, but as the vehicle still has some residual value at the end of the deal - the Minimum Guaranteed Future Value
- you don't pay interest on the whole cost price.
buying new The amount of that payment will be agreed at the start of the contract and is known as the Guaranteed Future Value
The contract will set out a Minimum Guaranteed Future Value
- the car's value in two to three years.
It works like this: You and the salesman agree a "minimum guaranteed future value
" for the car based on its likely value in two years if you stick to a mileage you specify.
Monthly payments are fixed at the outset on the guaranteed future value
of the vehicle and the bank takes the risks of any further depreciation.
The contract will set out a minimum guaranteed future value
(MGFV) - what the car will be worth in two to three years.
The dealer sets a Minimum Guaranteed Future Value
of what the car will be worth in two or three years.