Lexus has announced a £2,000 deposit contribution for its hybrid models when bought using a personal contract purchase (PCP), as well as a scrappage scheme for selected new models.
The “Make the Switch” promotion offers a £2,000 deposit contribution for customers buying a new hybrid-powered Lexus on a PCP from Lexus Financial Services. Interest rates on PCP agreements are as low as 1.9% APR (representative) on the IS executive saloon range.
Lexus claims that 99% of the cars it sells in the UK are hybrids, and has sold a total of 1.2 million hybrid vehicles worldwide.
Cars have to be ordered by 17 December 2017, with delivery before 31 March 2018. The Lexus website T&Cs specifically reference a 42-month term, but presumably you will be able to go shorter or longer at a similar rate.
Lexus has also launched a scrappage scheme for selected models, which we have analysed in detail separately.
The Car Expert explains the fine print
- This offer provides a £2,000 deposit contribution towards selected new Lexus models, over and above any other discount you negotiate with the dealer.
- The offers listed on the Lexus website are only examples, and you are entitled to adjust the term, deposit and annual mileage to suit your own needs.
- The annual mileages shown on the website examples are all set at 8,000. This is less than most drivers average per year, so make sure you are choosing an annual mileage allowance that suits your needs.
- The APRs and excess mileage charges shown on the examples vary considerably, so check the details carefully to make sure you are happy with what you are being offered.
- Excess mileage fees only apply if you are giving the car back and claiming the guaranteed future value (GFV).
- Cars have to be ordered and delivered by 31 March 2018.
- The deposit contribution cannot be used in conjunction with any other advertised offer.
- The finance offers are provided through Lexus dealers by Lexus Financial Services (a division of Toyota Financial Services). If a dealer offers you a finance deal that does not match these details or from another lender, it is not part of this offer.
As with any car purchase, work out your budget before you visit the showroom and don’t be persuaded to go beyond it – regardless of what the smiling sales executive suggests. They don’t have your best interests at heart, but The Car Expert does!