Hire purchase is a simple and easy way to finance your car over a period that you choose, from 1 to 5 years. The way it works is that Renault Bank purchases the car on your behalf, and you then pay fixed instalments over a flexible term of your choice. At the end of the agreement, ownership of the vehicle transfers to you.
Renault ReFlex is a Personal Contract Plan (PCP), which is a flexible Hire Purchase agreement, that enables you to have a reduced monthly payment thanks to a Guaranteed Future Value for your car in 3 years’ time. Having a Guaranteed Future Value for your car means that you can have a flexible finance plan that suits your circumstances, and you don’t need to worry about the re-sale value of your Renault vehicle in 3 years’ time.
A standard GAP insurance policy is sold for €295, for a three-year insurance policy. Included in the price of this policy is insurer costs of €77, government tax of €15, administrative fees of €50, Dealer commission of €100 and RCI Bank and Services income of €53. Note: The price of the GAP product and the associated costs will increase due to increasing levels of cover.
A standard Smart insurance policy is sold for €395 for a three-year insurance policy. Included in the price of this policy is insurer costs of €189, government tax of €19.75, administrative fees of €50, Dealer commission of €100 and RCI Bank and Services income of €40.05.
A standard Key insurance policy is sold €60 for a three-year insurance policy, included in the price of this policy is insurer costs of €8, government tax of €3.81, administrative fee of €20, Dealer commission of €30 and RCI Bank and Services income of €18.19.
The administration fee noted above includes (but not limited too) the following areas of cost: Customer Service, Account Management, Website Maintenance, Training Costs, Distribution Costs, Product Information Documents, Qualifications Cost, legal Costs & Documentation Fees.