AM Online

Improved car finance offers mean stronger Jul-Aug figures

nissan’s push is on leaf this year and while its ev sales are up globally by 10%, that doesn’t help uk dealers looking to hit targets

Dealers are expecting a lopsided Q3 this year as a result of ramped up demand in July and August, rather than the traditional plate-change month of September.

This is a result of manufacturers looking to dispose of stock tested under the previous NEDC regime ahead of the new Worldwide harmonised Light vehicles Test Procedure (WLTP) next month.

While many consumers would normally hold off their Q3 purchase for a new plate, manufacturers have been tempting customers with strong incentives to shift numbers.

The representative example statistics AM has put together for Q3 show there has been an improvement in offers quarter-on-quarter.

The average monthly payment across all offers collated has gone from £333.10 in Q2 down to £308.85 this quarter.

Average deposit levels have also dropped from £6,156.33 to £5,760.18 and the average balloon payment has also dropped from £12,706.29 to £11,951.13.

There is a slight trade-off, however, to tempt more customers into cars.

The average APR percentage has increased slightly from 3.97% to 4.07%, so finance houses are making a greater margin overall.

The Suzuki Ignis is the most affordable car on sale in Q3, with the combination of a low deposit of £578.77 and low monthly payment of £125, although another, the Celerio, continues to have the lowest monthly payment overall at just £89.

Mitsubishi’s new Eclipse Cross compact SUV, which went on sale at the start of this year, is in the second spot in terms of lowest monthly price point at £114.53. When factoring in the higher deposit level, this places it as the entry point to the Mitsubishi range, even before the Mirage city car.

Dacia makes up almost half of the top 10 places on lowest monthly payment list with its Sandero, Sandero Stepway, Duster and Logan MCV.

Seat, Mitsubishi and Suzuki are the three manufacturers that have seen the most growth in 2018 year-to-date and they’re all represented in lowest monthly payment data.

Renault is down 14.8% year-to-date but it is looking to tempt customers with low deposit offers on the Clio and Captur in Q3. The French manufacturer is also sweetening the deal with an additional discount of £1,000 against a part-exchange to get stock moving.

Mini may also be looking to cash in on the hot weather with a £295 deposit on the Cooper Convertible, although that’s unlikely to drive registrations beyond the flat performance the brand has seen so far this year (down 1.37% year-to-date).

Ford is continuing its strategy of 0% offers and the most popular model in the UK, the Fiesta, is there in third place for vehicles with the lowest monthly payments with no APR.

Smart has seen a 35.4% decline in registrations this year and low monthly deposits across its entire range haven’t helped so far.

Nissan is the biggest volume player with the greatest drop in new car registrations this year, but its volume models are being supported with 0% offers on the Micra, Juke and Qashqai. The Japanese brand’s product push is on Leaf this year and while its EV sales are up globally by 10%, that doesn’t help UK dealers looking to hit their quarterly volume targets.

 

Top finance deals for retail buyers

Model Finance type Deposit Term Monthly payment Final payment APR Offer ends
Top 10 lowest monthly payments
Suzuki Celerio SZ2 5dr PCP £1,558.63 49 £89.00 £2,694.00 5.70% 30/09/2018
Mitsubishi Eclipse Cross 2 petrol manual PCP £7,016.00 36 £114.53 £10,734.00 5.90% 26/09/2018
Mitsubishi Mirage Juro petrol manual PCP £4,220.00 37 £115.65 £4,253.00 5.90% 26/09/2018
Peugeot 108 Active 1.0L 72 5dr PCP £2,827.00 48 £118.98 £3,413.00 4.90% 01/10/2018
Dacia Sandero Comfort 5dr TCe 90 PCP £2,276.00 37 £119.00 £3,577.00 4.90% 01/10/2018
Suzuki Ignis SZ3 PCP £578.77 49 £125.00 £5,145.00 5.90% 30/09/2018
Dacia Sandero Stepway Comfort TCe 90 5dr PCP £2,658.00 37 £129.00 £3,904.00 4.90% 01/10/2018
Dacia Duster Access SCe 115 4x2 PCP £612.00 37 £129.00 £5,819.00 5.90% 01/10/2018
Dacia Logan MCV Stepway Comfort 5dr TCe 90 PCP £3,668.00 37 £139.00 £4,374.00 4.90% 01/10/2018
Seat Mii Design 5dr 1.0 12V 60PS PCP £1,569.00 47 £139.00 £3,048.54 6.80% 01/10/2018
Top 10 lowest deposit
Smart Fortwo coupé passion 71 hp (52 kW) PCP £159.00 48 £159.00 £3,620.00 2.00% 30/09/2018
Smart Forfour passion 71 hp (52 kW) PCP £159.00 48 £159.00 £3,640.00 2.00% 30/09/2018
Smart Fortwo cabrio passion 71 hp (52 kW) PCP £189.00 48 £189.00 £4,860.00 2.00% 30/09/2018
Renault Clio Iconic TCe 75 PCP £199.00 48 £199.00 £4,929.00 4.90% 01/10/2018
Renault Captur PLay TCe 90 PCP £199.00 48 £199.00 £5,416.00 0.00% 01/10/2018
Smart Fortwo EQ coupé prime 82hp (60kW) PCP £219.00 36 £219.00 £6,375.00 5.30% 30/09/2018
Mini Cooper Convertible 3dr hatch PCP £295.00 48 £295.00 £7,664.99 2.90% 30/09/2018
Suzuki Ignis SZ3 PCP £578.77 49 £125.00 £5,145.00 5.90% 30/09/2018
Dacia Duster Access SCe 115 4x2 PCP £612.00 37 £129.00 £5,819.00 5.90% 01/10/2018
Škoda Citigo 3dr Colour Edition 1.0 MPI 60PS PCP £675.28 48 £155.00 £3,021.30 6.70% 01/10/2018
Top 10 0% offers with lowest monthly payment
Nissan Micra Acenta Limited 1.0 petrol 71ps with optional metallic paint PCP £3,194.38 37 £149.00 £5,466.62 0.00% 30/09/2018
Suzuki Swift 1.0 Boosterjet SZ-T PCP £718.00 49 £159.00 £5,149.00 0% 30/09/2018
Ford Fiesta Zetec 1.0 EcoBoost 100PS 3dr PCP £4,529.00 36 £160.00 £6,831.00 0.00% 30/09/2018
Fiat 500L 1.4 Mirror 5dr PCP £4,265.00 37 £178.00 £6,327.00 0.00% 30/09/2018
Nissan Juke Bose Personal Edition DIG-T 115 PCP £5,753.84 37 £179.00 £6,792.16 0% 30/09/2018
Toyota Yaris Hybrid Icon Tech 5dr 1.5 VVT-i Auto PCP £3,279.00 42 £189.00 £6,997.50 0.00% 30/09/2018
Nissan Qashqai Acenta Tech Pack 1.2 DIG-T PCP £5,499.03 37 £189.00 £10,176.97 0.00% 30/09/2018
Fiat 500X 1.6 E-torQ Mirror 5dr PCP £4,611.00 37 £192.00 £6,422.00 0.00% 30/09/2018
Renault Captur Play TCe 90 PCP £199.00 48 £199.00 £5,416.00 0.00% 01/10/2018
Seat Arona SE Technology 1.6 TDI 115PS PCP £1,359.00 48 £199.00 £8,703.00 0% 01/10/2018


If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.