The experiences of three dealerships with their PCP programmes
Al Futtaim Motors Toyota: ‘toyota choices’:
“Each vehicle and customer driving needs are different; hence the cost per Dh100,000 also differs as mileage impacts future values as does the resale value of a vehicle in two or three years,” said Andrew Squires, general manager of national sales and marketing Al Futtaim Motors Toyota.
“A good example is the recent advertising by Toyota of the Prado. A vehicle that carries a retail sales price of around DH160,000 has a monthly repayment under Toyota Choices of Dh1,599 a month, so we can easily suggest a sum from Dh1,000 per Dh100,000 of value.”
Al Futtaim Honda: Honda advantages
The plan covers both 24 months (and 30,000km) and 36 months (with 40,000km).
The monthly installments on the first will be Dh1,399 for a Dh100,000 model and Dh1,235 a month on the second.
In comparison, the corresponding installments for hire purchase would be Dh1,910 each for 48 months or Dh1,576 each for a period of 60 months.
“At the end of the contract term, any positive equity is passed on to the customer and the customer may choose to encash the excess or use it towards the down payment on the next car,” said Mark Kass of Al Futtaim Honda. “If the customer has kept to the terms and conditions of the contract, there will be no loss for the customer.”
Arabian Automobiles Co.: Nissan freedom
Arabian Automobiles Co launched its programme in June last year. For a Dh100,000 model purchase, the monthly installments are around Dh1,300 over three years.
