We offer a service to match your individual needs and requirements. Here at Riverside Mitsubishi, we offer a dedicated service to meet the requirements of both individuals and business partners alike, no matter how large or small we aim to help you select the most suitable funding package, then tailor that package to suit your needs. As you can see our exclusive range covers all the requirements you may need. We also offer maintenance plans for your new vehicle as well as payment protection plans to cover those unfortunate experiences, insurance plans should be considered on all purchases. We also offer insurance such as GAP and RTI, which will bridge any short fall, should you new vehicle be stolen or written off. What is available to you. Hire Purchase. Hire purchase is the most common and frequently used funding method, and is very easy to understand. 1/ Pay your agreed deposit. 2/ choose your agreed term, 12 – 60 Mth’s, repay the balance over this period, which will be a fixed payment at the contract start. 3/ At the end of the contract subject to all payments having been made, including the final (option to purchase fee) the vehicle is then yours to keep, sell, or trade in for a new one. Personal contract plan (PCP / Alternatives) Alternatives is the flexible way of financing your car, it gives you flexibility by the way of, 1/ The deposit you pay. 2/ The length of the agreement. 3/ The Mileage you will travel. 4/ The alternatives open to you at the contract end. Alternatives is flexible because it can be tailored to meet your requirements and circumstances, initial deposits can vary from the equivalent of one monthly payment. A choice can be made about the length of the agreement, any month between 18 – 42 Mth’s can be chosen and the contract mileage up to 25,000 miles per annum or 80,000 miles throughout the entire agreement. The Key to alternatives is to match the monthly payment to your motoring budget, this is achieved by setting aside a final payment, which is a proportion of the cars present value at the start of the contract, which becomes payable at the end of the contract. Example Lets take a car say worth £15,000 Mitsubishi have a computer that predicts the guaranteed future value of that vehicle lets say in three years time. We deduct that future value from the selling price right now leaving you to pay on the small balance plus of course the cost of money and that’s it. You then have three Alternatives at the end of the agreement. 1/ All or part of the difference if any between the final payment and your vehicle trade in value, can be used towards the deposit on your next vehicle. 2/ The Final payment (Including the option to purchase fee) can be paid and you can simply keep the car. 3/ You can decide to hand the car back to your Dealer / Finance provider, and providing all the obligations of your agreement have been met you will have nothing else to pay. Contract hire. Contract hire is frequently the first choice for business. It provides the use of a vehicle at a fixed monthly cost that can even include full servicing and maintenance costs, tires and road fund renewal. This delivers a regular motoring cost for budgeting purposes, contract hire also enables a flexible method of off balance sheet funding. Current UK tax legislation also helps to keep contract hire prices lower. Businesses may be able to reclaim up to 50% of the VAT payable on the monthly rentals if for registered business users with a proportion of private vehicle usage. Additionally the full VAT on the service / maintenance element (if taken) may be recoverable in full. Contract hire additional options. 1/ Servicing costs 2/ Maintenance costs 3/ Tyre replacement (normal wear and tear only) 4/ A replacement vehicle following an accident or breakdown or during services Contract hire is available on 12 to 36 months’ terms. The level of the monthly payment is calculated on: 2/ The initial rental 3/ The length of the rental period (12 – 36 Mth’s) 4/ The agreed annual mileage 5/ The exact package to suit your needs. After the agreed period you return the vehicle and there is nothing more to pay as long as all the payments are met and all terms and conditions of the contract have been met. Taxation, legislation and accounting practises are subject to change and current business allowances can be changed at any time, for specific guidance you should contact your own financial advisor in these regards. Payment Protection Financing your car is a sensible way to spread this cost and our payment protection plan lets you protect your monthly payments. If you had an accident, fell ill or lost your job your monthly repayments would be the last thing you would want to worry about, that’s why we offer a range of payment protection plans to protect both private and business customers. There are three different cover options Gold Our gold cover offers comprehensive payment protection, you benefit from (Life cover, accident, sickness and involuntary unemployment (if you are employed) and critical illness (if you are self employed) the gold option is only available for private customers. Silver Silver cover gives you the benefit of Life, accident and sickness cover, this option is available for private and business customers. Bronze The bronze plan covers you for Life and critical illness, this option is available for private and business customers. Financial shortfall GAP. If while you policy is in force, your vehicle is written off due to accident, fire or theft, this policy will pay the difference between the early settlement figure on your finance agreement, and the sum received from your vehicle insurer under your vehicle insurance policy. Subject to certain conditions being met, the maximum benefit is £5000.00, the policy has a maximum duration of five years but will cease earlier upon the occurrence of any of the following events, a paid claim, on settlement of the loan or the repossession of the insured vehicle by the lender.
If while you policy is in force, your vehicle is written off due to accident, fire or theft, this policy will pay the difference between the amounts paid under a vehicle insurance policy and the original invoice price of your vehicle, subject to certain conditions being met. The maximum benefit is £15,000. The policy has a maximum duration of three years but will cease earlier upon the occurrence of any of the following events, a paid claim or the repossession of the insured vehicle if subject to a credit agreement.
For more information, visit the SupaGard website at www.SupaGard.co.uk
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