I am pleased to announce we can now offer highly competitive personal contract hire rates on all models in the VW range, Das Auto has arrived at Aston Financial!
An e-mail popped in to my in box from one of our competitors this morning proclaiming that they can supply a Range Rover Evoque Pure for £259 + VAT.
Wow I thought, that's cheap.
Then I clicked on the link and the deal is based on a pre payment of £1559 and is over 47 months and allows only 5,000 miles per annum!
So if you want a nice Evoque to look at in the driveway and never use then this is a great deal!!
I do find it really annoying when companies try and dress up a deal on terms that very few people will actually want.
So remember the old adage if it looks to good to be true then it probably is.
Look and see what the prepayment is, this is normally stated as 3+35 or 6+35, this means the prepayment is equal to 3 regular payments or 6 regular payments. Nothing wrong with a bigger initial payment as long as it's made clear early on.
The easiest way to compare like for like is to add up the total payments and divide by the number of months of the lease contract, and don't forget to include any "documentation" or processing fees!