Write about finance on PH and you'll get plenty of comments. Write about Lotuses on PH and there'll be even more. So write about Lotus introducing a new range of finance packages and... it'll probably get eight comments, because you should never assume anything. But let's see...
In partnership with FCA bank - yes, the Fiat Chrysler Automobiles bank, a 50/50 joint venture with Credit Agricole - Lotus has embarked on a "multi-year strategic partnership" to replace five existing finance suppliers across 10 European markets with a single solution. And if the FCA link sounds weird, it shouldn't - the bank already represents 18 other automotive brands outside the FCA umbrella.
Anyway, the finance packages. Set to be offered on new and approved used examples of all the Lotus sports cars - Evora, Exige, Elise - the new payment choices are being phased in from now until September. The deal covers wholesale funding for retailers in addition, "delivering confidence to the Lotus sales network."
Given how the majority of cars are purchased nowadays, a refreshed and renewed finance operation has to be good news for Lotus. CEO Phil Popham has said that the partnership "is a huge step forward for customer choice" and that the cars are "now more attainable than ever."
But just how attainable? Prepare for the barrage of figures. For the new cars, the deals kick off, naturally, with the Elise. A Sport 220 has an on-the-road price of £41,695; customers will now have the option to buy the car on PCP, with a £10,499 deposit and 48 monthly payments of £369. The annual mileage limit is 5,000 (with a 6p per mile excess charge), the APR is 4.9 per cent and, should the buyer wish to keep the car at the end of the 48-month period, the final payment will be £18,667, for a total amount payable of £46,509. And that's number wang.
For an Exige, the range kicks off with the £62,375 Sport 350. While the contract length, APR percentage and mileage limit remain the same, obviously some numbers are different. Deposit is now £13,379, the monthlies are £599, the optional final payment is £28,282 and the excess mileage charge is 12p per mile. Don't say you weren't warned!
Finally, the Evora. Again, the conditions mentioned above are carried over (including the 12p per mile), now with a £14,449 deposit and 48 monthly payments of £899. Those wanting to keep their GT410 Sport after four years will be asked for £43,197, for a total amount payable of £99,899. And breathe...
Now although finance has come in for a bit of stick the past couple of months for encouraging people to buy what they can't necessarily afford, it seems likely to continue as a popular method of buying cars for the foreseeable future. And if this deal with FCA Bank can bring more money to the coffers of Hethel, then we're all for it. Plus, if finance isn't for you, there are all manner of used Lotuses in the PH classifieds to buy however you wish - from £9k Elan to £100k Evora. You're spoilt for choice, in fact...
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