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Finance

Personal Finance

An Alfa Romeo is a very individual choice, your finance plan can be too

Buying an Alfa Romeo is a celebration of Italian style, performance and sophistication. You’re choosing it for personal reasons and the model, colour and specification is exactly as you want it.

Financing your Alfa Romeo should be like this. No time wasting jargon and sales spin, just clear information that helps you to select precisely the right finance package. This guide will highlight the advantages of our Preferenza package, as well as more traditional finance plans such as Hire Purchase (HP). Simply decide what level of monthly repayment suits you, how much deposit you’d like to put in and whether you plan to keep the car long term or exchange it after a shorter period, then consider the options detailed here. It’s your decision.

Hire Purchase

Hire Purchase (HP) is very similar to borrowing a sum of money from a bank and paying it back over a fixed period of time, with interest. Hire Purchase is a type of secured loan which are often preferred over alternative (unsecured) loans because they allow a greater borrowing limit. The term "secured loan" means exactly that, a loan that the lender can secure against an asset (in this case, the vehicle). HP gives you additional rights over those of a personal loan and is only available through dealers that have passed the stringent approval process of the finance companies.

Lease Purchase

Lease Purchase will enable you to purchase your next car with lower monthly repayments. The way this is achieved is by deferring an amount of the total cost of the vehicle to the end of the agreement. This amount is known as the Residual Value (RV).

It is the customers responsibility to settle the final payment either though additional finance, cash or settlement by part-exchange.

The Lease Purchase product and has no tie to a mileage contract. Repayment periods are typically taken over 2, 3 or 4 years and settlement can be made at any stage of the agreement. We would recommend that you select your anticipated annual mileage to a realistic level so that a realistic Residual Value is set for the vehicle. At the end of the agreement you have three options:

• If you want to keep the vehicle, you can simply pay off or refinance the outstanding balloon payment.
• You can come back to us and part exchange your vehicle for a new one. If the trade-in value is greater than the RV, the difference can be used towards a deposit on the next agreement.
• You can sell the vehicle privately and keep any profit over and above the RV.

Personal Contract Purchase

A Personal Contract Purchase (PCP) plan will enable you to purchase your next car with lower monthly repayments. The way this is achieved is by deferring an amount of the total cost of the vehicle to the end of the contract. This amount is known as the Guaranteed Future Value (GFV).

The Guaranteed Future Value plus your deposit is subtracted from the cash price of the vehicle and your monthly payments are based on the balance (plus interest on the balance and the GFV).

By only repaying the difference between the cash price and the optional balloon payment you are only financing the depreciation of the car.

At the end of the contract you have four options:

• You can return the vehicle to the finance company. As long as you have not exceeded the agreed mileage, you will have nothing more to pay.
• If you want to keep the vehicle, you can simply pay off or refinance the outstanding balloon payment.
• You can come back to us and part exchange your vehicle for a new one. If the trade-in value is greater than the GFV, the difference can be used towards a deposit on the next agreement.
• You can sell the vehicle privately and keep any profit over and above the GFV.

Why Apply Online?

• You are in no way obliged to buy the vehicle, but by applying you register an interest in the vehicle.
• You can submit your details at any time, our system is availiable 24hrs a day for your convenience.
• By arranging your finance in advance you can have the comfort of knowing your finances are in place.
• The whole process is confidential with no need to disclose personal details to our operatives.
• The service is provided on a secure server so your details are kept totally safe.

Finance Protection

Naturally, as an Alfa Romeo buyer you’ll select the best possible insurance cover, but what does that cover actually include? However comprehensive, it cannot be all encompassing. Unemployment, illness or accidents can stop any of us in our tracks, and your car could be stolen or written off. Should the worst occur, you don’t want to be concerned about repayments or being out of pocket.

Like every Alfa Romeo driver you want to enjoy your car to the full, and we can help. By giving you the clear information you need to make a well judged decision about protection, we can cover you against the ‘what ifs’. Alfa Romeo Financial Services offer Credit Protection Plan, Gap Plan and Gap Plus, each carefully designed to prevent unwelcome surprises and keep you firmly in control of your financial commitments