There was a time when nearly all car manufacturers were offering huge discounts on new models, but these days discounts and deals are far harder to come by.
There has been the problem of demand outstripping supply while increasing interest rates are seeing buyers having to spend more on a car if going down the finance route. However, there are still offers to be had. Here we’ve rounded up the best.
Ford Fiesta
While Ford might have recently announced it will stop production of its well-loved Fiesta by the middle of 2023, if you act quickly, there are great deals to be had on the existing car. In fact, Ford is one of only a handful of manufacturers still offering zero per cent APR rates – meaning you won’t be penalised for going down the finance route.
In fact, you can currently get behind the wheel of the excellent Fiesta ST-Line for £255 per month, with an initial deposit of £6,370. Though the Fiesta’s days might be numbered, it remains one of the best superminis on the market.
Model: Ford Fiesta ST-Line 1.0 EcoBoost 125PS Mild Hybrid 5dr
Monthly payments: 24 x £255
Customer deposit: £6,370
Deposit contribution: £N/A
Total at end of contract: £12,490
Optional final payment: £11,400
Total paid to own the car: £23,890
Cash price: £23,890
APR: 0 per cent
Annual mileage allowance: 9,000
BMW X3 M Competition
A high-performance SUV might not be the top priority in the current economic climate, but if you’ve got the means, BMW’s latest X3 M Competition is available at a significant discount. Using the same engine as the latest M3 – a 503bhp six-cylinder unit that can manage 0-60mph in 3.6 seconds – it’s available for almost £100 less than the less practical M3.
That’s thanks to BMW offering a huge £16,307 deposit contribution towards an X3 M Competition, and even with a 5.9 per cent APR rate, it still works out almost £5,000 cheaper to finance than it does to buy.
Model: BMW X3 M Competition
Monthly payments: 47 x £869
Customer deposit: £8,684.48
Deposit contribution: £16,307.50
Total at end of contract: £49,527.48
Optional final payment: £34,691.20
Total paid to own the car: £84,218.68
Cash price: £89,070
APR: 5.9 per cent
Annual mileage allowance: 10,000
MG 4
Think EVs have to be expensive? Well, the MG4 is here to prove that doesn’t have to be the case, with the £25,995 starting price of this family hatch comparable (or cheaper) than many petrol and diesel cars of a similar size.
It means you can get behind the wheel of this new electric car for £269 per month over a four-year agreement, and with a relatively affordable deposit of £4,145.69. We’d just recommend handing the car back at the end of the term, as the optional final payment is steep. The MG4, even in this standard range form, is generously equipped and can still travel a claimed 208 miles to a charge.
Model: MG4 EV SE 125kW 51kWh Auto
Monthly payments: 49 x £269
Customer deposit: £4,145.69
Deposit contribution: £N/A
Total at end of contract: £17,326.69
Optional final payment: £14,665.50
Total paid to own the car: £31,992.19
Cash price: £25,995
APR: 7.9 per cent
Annual mileage allowance: 8,000
Fiat 500
The days of getting a new car for less than £200 a month are more or less over, but if you look hard enough, you are able to – and with a sensible deposit. These include the Fiat 500, and though it’s not the shiny new electric model, the regular mild-hybrid petrol car remains an appealing and low-cost city car.
With a £2,250 deposit, you can get behind the wheel of a Dolcevita model, which comes as standard with 15-inch alloy wheels, a seven-inch touchscreen and a fixed sunroof, for £199 a month over a four-year contract. Fiat is also offering a £1,000 deposit contribution.
Model: Fiat 500 Dolcevita 1.0 Mild Hybrid MY22
Monthly payments: 48 x £199
Customer deposit: £2,250
Deposit contribution: £1,000
Total at end of contract: £11,802
Optional final payment: £6,173 (including optional final payment)
Total paid to own the car: £31,992.19
Cash price: £25,995
APR: 7.9 per cent
Annual mileage allowance: 8,000
Renault Captur
Renault is another firm offering plenty of zero per cent APR deals, with this low rate of finance available across much of its line-up. But our pick of the line-up is the Captur E-Tech – the hybrid version of this popular crossover.
It’s an efficient, well-equipped and practical model in this class, and is even better with Renault’s current offers, where you can get behind the wheel for £276 per month, with a £3,131 deposit over a two-year agreement – costing less than £10,000 if you hand the car back at the end of the contract.
Model: Renault Captur Evolution E-Tech Full Hybrid 145
Monthly payments: 24 x £276
Customer deposit: £3,131
Deposit contribution: £N/A
Total at end of contract: £9,755
Optional final payment: £15,437
Total paid to own the car: £25,192
Cash price: £25,195
APR: 0 per cent
Annual mileage allowance: 8,000
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