Peugeot has announced an offer on its performance-focused 508 PSE models, with savings of up to £7,100 for a limited time.
The Peugeot 508 PSE liftback and 508 SW PSE estate sit above the regular 508 range, the acronym standing for Peugeot Sport Engineered. The on-road price for the liftback starts at just over £54K, with the estate costing an additional £1,800.
The new offer consists of a £4K discount on the car itself, bringing the starting price down to £50K (£49,995, to be precise). There is an additional £3K of deposit contribution if you take out a PCP finance agreement with PSA Finance UK (a deposit contribution is basically a discount for taking the company’s finance offer, rather than borring the money elsewhere).
Peugeot is advertising monthly payments of £599, but it’s important to note that this is based on a four-year PCP with you putting in just under £7,000 cash up front, plus a mileage limit of just 6,000 miles per year. If you put in less money up front, do more miles each year or want a three-year term, the monthly price could be significantly higher.
The APR is 5.9% – although the example says that this is a representative APR (which means that only 51% of customers need to be offered this rate, while the rest might be offered a higher rate), Peugeot has confirmed to The Car Expert that this is the rate that all applicants will be offered.
The Peugeot 508 PSE is powered by a plug-in hybrid powertrain, pairs a 1.6-litre petrol engine producing 200hp with two electric motors for a combined maximum power output of 360hp. It also comes with styling changes and additional equipment over the regular 508 range.
Now in its second generation, the standard Peugeot 508 range has received a wide range of review scores from the UK media since its arrival in 2018, ranging from average to outstanding. Praiseworthy features include the family car’s comfort and safety levels, although many reviewers also conclude that its rivals are more practical overall. The Peugeot 508 currently holds an Expert Rating of 70% in our Expert Rating Index, although this doesn’t include the 508 PSE models.
Finance offer details
Peugeot 508 FSE liftback finance example
| Finance product | PCP |
| Duration | 48 months (47 monthly payments + balloon) |
| Vehicle cash price (including £4,035 discount) | £49,995 |
| Customer deposit | £6,834.89 |
| Peugeot deposit contribution | £3,100.00 |
| Total deposit | £9,934.89 |
| 47 monthly payments | £599.00 |
| Final balloon payment | £18,745.00 |
| Total amount of credit | £40,060.11 |
| Total charge for credit | £6,837.89 |
| Total amount payable | £56,832.89 |
| APR representative | 5.9% |
| Rate of interest | 5.90% fixed |
| Annual mileage allowance | 6,000 |
| Excess mileage (per mile) | 10.8p |
The table shown is one example of how Peugeot’s finance offer for the 508 PSE could work.
To get to a monthly payment of £599, you need to be taking a four-year term (47 payments of £599 plus a final balloon of £18,745) with an up-front payment of £6,834.89. You are also limited to driving no more than 6,000 miles a year.
You can vary the term, deposit and mileage, but this will affect the monthly payment. Similarly, if you add any options to the vehicle, it will push the payments up.
For more information about how a PCP works, we have a whole information hub devoted to PCP car finance.
What’s in the fine print?
- These offers are for selected new Peugeot models that are currently in stock.
- There are two separate offers that can be combined. The first is a £4,035 discount on the price of the vehicle, while the second is an additional finance offer.
- The finance offer is only available on a personal contract purchase (PCP) finance product from PSA Finance UK. If you want any other type of finance, like a hire purchase, you won’t be eligible for the same terms like the £3,100 deposit contribution or 5.9% interest rate.
- The finance offers listed on the Peugeot website are only examples, and you are entitled to adjust the vehicle specification, deposit, term and annual mileage to suit your own needs (within limits).
- The 5.9% APR is shown as a ‘Representative APR’ but all successful finance applicants should be entitled to this interest rate.
- Cars have to be ordered and registered by 4 April 2022 unless sold out sooner.
- The finance offer is provided through Peugeot dealers by PSA Finance UK. 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.
