Our specialist motor Finance Broker - Krish Appiah was able to finance the brand new EV Mercedes-Benz EQS Luxury Hyperscreen Edition for his client under a Hire Purchase (HP) arrangement with an additional balloon.
Krish was able to work alongside the team at JBR Capital from our comprehensive 80+ lending panel to find the best finance options and offer a personalised package for his client, which included a £40,000.00 deposit, followed by monthly payments of just £565.00 from an overall purchase price of £124,745.00!
The structure of HP consists of a deposit, with monthly payments making up the remaining finance amount. The benefit of this product is that it gives you complete control over the agreement as you can decide the deposit amount and the repayment term. HP also enables you to own the car at the end of the agreement. An optional balloon payment can be added to the end of the agreement, which will cut the monthly payment costs if needed. Then further finance options can be available once the balloon payment is due including refinance.
We are seeing an increase in interest for EV vehicles such as the Mercedes-Benz EQS and this comes as no shock as models such as these, combine efficiency with luxury and style. Electric car sales more than doubled in 2021 to 6.6 million and tripled their market share from two years earlier. Electric vehicles are a greener alternative to petrol and diesel cars, but did you know there are many other benefits of electric cars too? If you like to learn more about the benefits that EV vehicles can provide, then please click the link below to read our article:
Are you interested in purchasing an EV vehicle? It is important to remember that the figures presented were specific to the actual client and each person's situation is different but here at Approved, we are dedicated to finding you the best possible finance option. If you feel that Refinance is a viable option for your current situation then please do not hesitate to get in contact to discuss your finance options with our specialist motor finance broker Krish Appiah on 01908 429888 or email him at Krish@approved-finance.co.uk.