Info About Clio Hire Purchase/Finance

[adam nardone]

Hi guys,

Got a mate that wants to get a new Clio on Hire Purchase/Finance with Renaults Finance Group, what, if any modifications can be made to the car with or without permission, Im guessing none whatsoever but youll be making his day if you can honestly say that some work can be done.

Regards,

Adam

 

[chrisba]

As far as im aware you can do what you like as long as the car is pretty much standard when/if you hand it back.

 

[edde]

Officically your not allwed any mods beyong what is doen at the dealership when you buy it ie if it has a Renault body kit on it thats fine I belive. But to be fair there not going to care so long as you either buy the car back at the end they dont care.

If the car is being returned when the finance is over as long as its stock it should be fine (so long as its ok to drive it yourve not lowered it and messed up the shocks although they may be covered underwarently.

As long as you keep up payments its insured properly and if you return it its stock then there shouldnt be a problem. After all why should they care there not gouing to see the car in 3yrs (hopefully)

 

[adam nardone]

Cheers for the input guys, but what about stuff like colour coding that couldnt be changed back after its been done, that was one of the things at the top of the list.

Adam

 

[edde]

Quote: Originally posted by adam nardone on 17 March 2004


Cheers for the input guys, but what about stuff like colour coding that couldnt be changed back after its been done, that was one of the things at the top of the list.

Adam

Wont be to happy but you could always buy some new one from Renault not sure on prices though. Quite a few people but 2.0 badges anyway (£40 I think)

 

[adam nardone]

I think his main concern was with things like that being recorded by Renault when the car is serviced. He does however have every intention to buy the car at the end of three years when the hire purchase runs out. Any further input for you guys would be great.

Adam

 

[Chins]

Adam

I would get your mate to look at other finance methods as well. A straight loan with no early settlement charge is the way to go.

Most dealer schemes have front loaded interest, so any early settlement is hampered by the interest. Another thing to consider is that a dealer HP scheme will show the car on HPI. Therefore it he wants to sell the car, in theory he needs to settle the finance first. With a straight 3,4 or 5 year loan he can sell the car and just get a top up loan for the new one.

Make sure hes getting a good rate as well. The Merc dealer tried to con my dad into 11.0% APR the other day. In the end he got 6.5%. Go to a site such as http://www.moneyextra.comhttp://www.moneyextra.com That will give a good indication a repayments.

If he is looking at finance on a 3 year PCP/Ballon type deal, just go for a straight 5 year loan. He will probably have a smaller settlment at 3 years on it than a PCP.

Dont know if that helps. Using other methods will not prevent him tuning the car.

Jonathan

 

[edde]

Quote: Originally posted by adam nardone on 17 March 2004


I think his main concern was with things like that being recorded by Renault when the car is serviced. He does however have every intention to buy the car at the end of three years when the hire purchase runs out. Any further input for you guys would be great.

They wont make a note of it I belive. Dealerships service notes dont get sent out to renault finance anyway renault finance are almost a seperate company nothing to do with the dealrers they just fill in the paperwork for them.

 

[adam nardone]

Quote: Originally posted by edde on 17 March 2004

Quote: Originally posted by adam nardone on 17 March 2004


I think his main concern was with things like that being recorded by Renault when the car is serviced. He does however have every intention to buy the car at the end of three years when the hire purchase runs out. Any further input for you guys would be great.

They wont make a note of it I belive. Dealerships service notes dont get sent out to renault finance anyway renault finance are almost a seperate company nothing to do with the dealrers they just fill in the paperwork for them.



Thats what I really wanted to hear. Im sure well look up some more on it but for now... Looks like another ClioSport.net member is on the way.

Adam