Santander Consumer Finance (SCF) has secured agreements with Mazda and Volvo to offer personal contract hire (PCH) deals to its UK customers.
There are no initial payments required on the deals which run for 18 months. Monthly payments on Mazdas start from £229 a month and from £249 a month on Volvos.
Most current personal contract hire deals require initial payments and commit customers to contracts of between 24 and 48 months.
Road tax is included as part of the contract, although customers will be responsible for maintenance and servicing in line with manufacturer requirements.
The offer will be put out to Santander’s five million 1I2I3 World loyalty scheme customers. Santander customers qualify as part of 1I2I3 World by holding a 1|2|3 current account or credit card and the offer is also available to Santander Select and Santander Private customers.
SCF will be the main point of contact for customers and then they will then be put in touch with their local participating dealership to collect their car.
Stewart Grant, Santander Consumer Finance commercial director, said: “This new approach is a unique benefit for our existing and future brand partners and enables customers to access a new vehicle at preferential rates and without hassle or a major investment.
“It is a significant move for SCF in our bid to be one of the leading contract hire businesses in the UK. We are grateful for the enthusiasm and commitment of Santander UK and our brand partners Mazda and Volvo and are confident this offer will be very popular with 1I2I3 World customers.”
Headline vehicles initially available on the offer include the Volvo V40 from £249 a month; the Mazda 2 from £229 a month; the Mazda MX-5 Convertible from £269 a month; the Volvo V90 from £359 a month; the Mazda CX-5 £339 from month; the Volvo XC60 from £379 a month; and the Volvo XC90 from £659 a month.