LATEST READ   What is PCP car finance?   Read Guide

How can I finance my Lotus?

Regarding Lotus car financing, you can consider two prevalent options: Personal Contract Purchase (PCP) and Hire Purchase (HP). Both provide distinct benefits tailored to meet the needs of different customers.

PCP finance offers flexibility and affordability with its lower monthly payments. This Lotus finance option also allows you to decide the vehicle’s fate at the end of the agreement: you can return it, keep it, or trade it in for a new model. PCP under Lotus Finance is particularly suitable for those who love the thrill of driving new models frequently, making it easy to refresh your drive regularly.

Alternatively, HP finance, another form of Lotus finance, provides a simple and uncomplicated path to full ownership. With HP, you can spread the total cost of the vehicle across a predetermined time period. After making the final payment under this Lotus finance plan, you become the outright owner of the car. It’s an ideal option for those looking at long-term vehicle ownership and who wish to bypass the mileage restrictions associated with PCP.

Buy your car with confidence

Receive finance quotes in an instant from some of the leading lenders in the UK! At Car Finance Saver, we ensure you can navigate your savings journey with clear, honest information.

How to get a new car loan with Car Finance Saver

Are you seeking to evaluate various new car finance offers? Our platform, Car Finance Saver and Monevo, offer a service to help you sift through and compare options that best suit your requirements. Kick off the procedure by completing a designated application form for Monevo’s scrutiny. Based on your unique requirements, Monevo pairs you with suitable lenders. After selecting your preferred offer, the chosen lender will handle the rest of the application process.

Frequently asked questions about Lotus

What is the fuel efficiency of Lotus cars?

Lotus cars, being high-performance vehicles, have varied fuel efficiency depending on the model and driving conditions. The fuel efficiency of Lotus cars can differ significantly based on factors such as engine size, weight, aerodynamics, and driving habits.

For accurate and up-to-date information on the fuel efficiency of specific Lotus models, it is best to refer to the official Lotus website or contact a local Lotus dealership. They will be able to provide you with the most current data on fuel consumption, including city and highway MPG (miles per gallon) figures.

What is the warranty period for a Lotus car?

New Lotus cars come with a three-year unlimited mileage warranty. This means that during the first three years of ownership, there is no limit to the number of miles you can drive, and if any covered component or part malfunctions or fails within that period, Lotus will provide repairs or replacements at no additional cost to you.

Additionally, the three-year warranty also includes roadside assistance, which means that if you encounter any issues while on the road, such as a flat tire, dead battery, or running out of fuel, Lotus will provide assistance to help you get back on the road.

However, please note that warranty terms and conditions may change over time, and it’s always a good idea to check with the official Lotus website or your local dealer for the most current warranty information.

How often do I need to service my Lotus?

Typically, Lotus recommends servicing your vehicle every year or after every 9,000 miles, whichever comes first. Regular servicing is essential to maintain the optimal performance and reliability of your Lotus car.

It is worth noting that the recommended service intervals may vary based on the specific model and its usage patterns. For instance, if your driving involves more demanding conditions, such as track use or aggressive driving, more frequent servicing may be necessary to keep the car in top shape.

To ensure you’re adhering to the correct service schedule for your particular Lotus model, consult the owner’s manual provided with your car or get in touch with an authorised Lotus service centre.

Is it expensive to maintain a Lotus car?

Maintenance costs for a Lotus can be higher compared to regular mass-produced cars, mainly due to the brand’s focus on high-performance engineering and the use of specialised components and materials. Additionally, the relatively low production volume of Lotus cars can lead to higher parts and service costs.

However, Lotus has made efforts to keep running costs as manageable as possible for their customers. Regular maintenance and adherence to the recommended service intervals can help prevent major issues and reduce the likelihood of expensive repairs in the long run.

It’s also worth considering that maintenance and servicing costs may vary based on the specific model, age of the car, driving habits, and availability of qualified Lotus service centres in your area.

What is the difference between Lotus PCP and HP finance options?

Both PCP (Personal Contract Purchase) and HP (Hire Purchase) are common financing options offered by car dealerships. They have distinct characteristics that cater to different financial preferences and ownership goals. Here are some of the main differences between PCP and HP plans:

– PCP (Personal Contract Purchase): PCP offers lower monthly payments compared to traditional finance options like HP. The monthly instalments cover the depreciation of the car’s value over the contract period, rather than the full cost of the vehicle. At the end of the PCP contract, you have three options: 

Return the car: You can simply hand back the car to the dealership, provided you’ve adhered to mileage and condition agreements.
Keep the car: You can pay the optional final payment (often referred to as a “balloon payment”) to purchase the car outright.
Trade-in for a new car: You can use any equity remaining in the car (if it’s worth more than the optional final payment) as a deposit toward a new car.

– HP (Hire Purchase): With HP, you make fixed monthly payments over an agreed-upon period. Unlike PCP, there’s no large optional final payment at the end of the contract. Once you make the final payment, you outright own the car, and there are no mileage restrictions or any need to worry about wear and tear penalties.

When considering which option is best for you, it’s essential to evaluate your budget, how long you plan to keep the car, and whether you prefer lower monthly payments with future flexibility (PCP) or outright ownership (HP). Additionally, interest rates and terms may vary between PCP and HP, so it’s essential to review the specific financing offers available at the time of purchase.

What to consider when choosing a Lotus

Choosing the right Lotus model requires careful consideration of your lifestyle and driving habits or preferences. If you’re a driving enthusiast looking for the ultimate track experience, then Lotus models like the Exige and Evija offer unbeatable performance and speed. These models are built with aerodynamics and agility in mind, offering a dynamic driving experience. 

For those seeking a blend of comfort, practicality, and sportiness, the Lotus Emira is an excellent choice. Its plush interior and advanced technology provide a luxurious driving experience without compromising on the adrenaline-filled sporty performance that Lotus is known for. The Emira, like all Lotus models, champions the brand’s philosophy of ‘For The Drivers’.