Latest new car discounts
Despite the SMMT singing that British new car registrations last year were healthy, a number of factors have made 2014 a freak year. One of the most important was a significant number of people receiving PPI compensation and, with unexpected cash burning holes in their pockets, many of them set about making major purchases.
However, this year might not be so rosy, now that the rate of PPI claims is in freefall. With European sales continuing to flag, many manufacturers have chosen to keep their factories open and to continue to fill the market with heavily discounted new cars.
Therefore, when visiting a showroom, be aware that the manufacturer is instructing dealers to offer heavy discounts from new list prices. Yet, do not be surprised if harder negotiating is rewarded with further reductions.
CAP, the used car valuation expert, has highlighted the main discounts that are available from a selected number of manufacturers, most of which can be obtained until the end of March, which include:
Alfa Romeo increasing its zero finance offers and a new 34-month term.
Audi introduces new offers on A6, A7 and A8 models – with dealer’s contributions on the A6 of ~.£4.500, ~£8,000 on A7 and the A8 receiving a whopping £11,200 dealer contribution.
BMW is following the VW/Audi trend of increasing the interest rates slightly on its finance offerings; while introducing contributions on its 4-series models.
Citroën continues to drive volume, through high contribution offerings, until the end of March.
Fiat begins to introduce ‘money off’ deals on the 500L – £2,205 on the Pop Star 1.4 and the Pop Star 0.9 Twin Air receives £2,000 off. Note the rising interest rates on finance deals.
Ford continues with low monthly payments, via its PCP schemes throughout the range.
Hyundai introduces ‘money off’ deals on both the i20 and i30 ranges and selected dealer contributions, partly to clear old stock but also applies to new.
Mazda continues with the zero finance offers, over 42-months throughout its range, with supporting dealer contributions.
Mercedes-Benz shows no signs of reducing the ‘hefty’ dealer contributions across its models. Low rate PCP offerings are available on the G, GL and GLA models.
Renault/Nissan remains with large dealer contributions, with Renault increasing zero deposit and finance deals on Mégane models.
Seat continues with dealer contributions of up to £3,900.
Toyota offers a £1,000 deposit contribution across the range with a 4.9% finance deal.
Vauxhall introduces zero per cent finance on PCPs.
Volkswagen’s recent increases in its finance interest rates are not damaging its sales, although selected dealer contribution offerings continue unaffected.
Volvo has introduced new offers on selected models that are coming to the end of their lifecycle, including the XC70 and S80 possessing a significant £4,250 dealer contribution.