Vauxhall launches new payment plan

Vauxhall customers will be able to change their cars after a set period under the latest Personal Contract Purchase scheme (PCP) from the carmaker.

The PCP programme gives drivers the chance to pick up a brand new vehicle with a deposit and affordable monthly payments. Then at the end of the agreement they can either swap the vehicle or retain it, paying a fixed price for the remaining value of the car that is guaranteed when the contract finishes.

Vauxhall hope the scheme's flexibility will encourage more motorists to opt for a new car, with brand new models such as the Adam and Mokka available under PCP.

When drivers sign up it is only for a short-term deal, which means they can have regular access to new vehicles if they decide to continually swap.

By taking advantage of these opportunities, safety-conscious drivers can make sure they are always able to enjoy the newest technology and features available.

To give drivers more confidence about the deals, Vauxhall provides complete certainty over the car's final value.

If customers decide they want to keep the car at the end of it instead of swapping, they can just pay the earlier agreed sum and keep the keys.

That can be done with a one-off lump sum or via re-financing.

Drivers are also free to give the car back and walk away, although there are sometimes excess charges for mileage and vehicle condition clauses.

For example, if a driver wanted to glide through city streets in the Adam, they can do so under PCP by paying a deposit of £1,514 and payments of £159 per month over 36 months.

Meanwhile, motorists who would rather have the increased space of a Mokka compact SUV can also use the PCP agreement, with a £4,530 deposit and monthly payments of £209 over three years.

Certain options are also more affordable under the PCP deals, with the Adam Technical Pack available for an additional £10 a month over 36 months with an extra £47 deposit.

This means PCP buyers can secure the extras, which include rear parking sensors, tyre pressure monitoring and IntelliLink, for £407, compared to £600 for other customers.

Overall terms range from 24 to 36 months, with customers free to choose anything in between.

The only thing Vauxhall has set in stone is the customer finance rate of 2.9% APR representative for all terms.

Duncan Aldred, Vauxhall's chairman and managing director, expressed his delight that Vauxhall is able to offer the "highly competitive" deal.

He emphasised how the bespoke monthly payment plans are tailored to suit customers and allow them to move on to another car under the same agreement if they choose.

People can find out more information about flexible PCP finance, which runs until April 2, by visiting www.vauxhall.co.uk/offers. Flexible PCP finance runs until 2nd April 2013.

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