Consumer understanding of PCPs has recently been hitting the headlines, with suggestions that some car buyers may not have realised they will face a lump sum payment at the end of the loan.
Of course, the option is to simply part exchange their old vehicle for new at the end of the loan and take out another loan to fund the new car. But for motorists who don’t want the hassle of car ownership and the pressure of having to fund the balloon payment at the end of the loan – but still want to be able to access the latest motoring technology – Europcar UK has launched a flexible alternative.
Europcar Long Term Hire provides a transparent solution that means motorists know exactly what their motoring costs will be month by month. From just £317 per month[1] with only a £70 deposit required, it provides access to new vehicles that customers can keep for up to twelve weeks at a time. And at the end of the twelve weeks, they simply swap to a new vehicle with no additional charges or outstanding payments to be settled.
“There’s much debate at the moment about the different financing options available to motorists looking to get into a new car”, explained Gary Smith, Managing Director, Europcar UK Group. “With Europcar Long Term Hire we have taken the unknown out of car ownership and provided an alternative to financing a new car purchase. There’s no depreciation or maintenance to worry about. The car comes with a free Deliver & Collect service, and additional drivers can be added at no extra cost. It is a genuine long-term solution, that doesn’t require any long-term commitment.”
Analysis has shown that Europcar Long Term Hire provides motorists with a genuine alternative to other forms of car ownership, whilst still being competitively priced. The basic Europcar Long Term Hire starts from £317 per month for a mini category vehicle, with a monthly mileage allowance of 2,520 miles and an excess of £1,000. Europcar Long Term Hire Premium provides complete peace of mind, with zero excess on insurance for a starting price of £422 per month and a deposit of £70.
For a vehicle such as a Peugeot 208, over two years, a high mileage driver could expect to pay £8,470 with Europcar Long Term Hire. To lease this vehicle for the same period would cost £1,043 more.
Europcar believes its flexible new solution provides motorists with an ideal alternative to car ownership, maintenance and servicing costs. And unlike car ownership or leasing, where the driver is stuck with the same car for years, they can change the vehicle every month. Whether drivers would like to take advantage of the warmer weather in the summer and hire a convertible, or a compact vehicle for the winter months, Europcar Long Term Hire provides flexibility all year round.
Customers using Europcar Long Term Hire can book and rent their car immediately, with no forms or credit checks – just a simple credit card payment. It’s ideal for motorists who don’t want to be pinned down to the long-term commitment of car ownership. Picking from a fleet that, on average, is less than 6 months old and with no yearly contract, customers can either change their vehicle every month or keep the same car for 12 weeks at a time and have a free monthly valet.
