subject: Luxury Vehicle Finance [print this page] Leading automotive manufacturers excel not only in ground-breaking technology, but also in innovative financial solutions which carry the same ethos and pursuit of advancement defined by the vehicles they create.
Vehicle Financing
Innovative auto manufacturers take care in providing financial services from people who have close working relationships with local dealers, and who are as passionate about luxury vehicles as those who drive them.
They ensure that motorists are able to share in the same automotive joy which comes from owning a luxury vehicle, by providing flexible financial options designed to meet their every need.
Traditional Route
A simple, traditional route to financing vehicle ownership is an instalment sale which is typically convenient to arrange and offers flexible terms to suit the drivers needs with financing periods structured from 12 - 60 months.
The benefit of this financial option is that the vehicle is fully owned when the amount has been paid in full and the owner can enjoy the benefit of any resale value.
For the purpose of business - depreciation and the yearly interest paid against tax can be claimed back. There is also no minimum deposit payable for this option but this may be dependent on current legislation and a credit profile.
Leasing Options
Leasing allows drivers to use a vehicle for an agreed period of time, during which time rentals are paid. This also allows for drivers to return the vehicle at the end of the term, extend the lease or even acquire ownership.
As with the instalment sale, interest is calculated at either fixed or prime-linked rates and the vehicle must be fully insured during the agreement. The benefits of this option mainly accrue if the vehicle is being used for business or in the generation of an income.
This allows business owners to avoid tying up working capital as they dont need to own the vehicle to use it and can also claim the rental as an expense against tax.
Stepped payments, inflated rentals and other structures can be tailored to suit needs and the deposit percentage and repayment period can be negotiated.
Eleven-Month Payment
Perhaps the most rewarding of vehicle finance options is that of the visionary eleven-month payment plan. With this plan, vehicle owners are entitled to miss one month of payments and enjoy the freedom of using the money where and when they need it most.
Drivers may elect one month of the year, which will remain consistent in each year over the term of the finance agreement, in which they do not have to pay a normal instalment. In short, every year, while the deal runs, there is no payment required in the selected month.
Having a wide range of competitive finance and insurance plans, developed and tailored to meet the requirements you desire in vehicle financing is what sets leading auto motor manufactures apart and raises new standards in luxury vehicle financing.
by: Audi South Africa
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