HOW I-DEAL WORKS
With i-Deal you put down a deposit at the start of your agreement. You also set aside a proportion of your chosen car's value until the end of the agreement.
This amount is the Guaranteed Minimum Future Value for your Fiat. It gives you the peace of mind that you know where you stand at the end of your agreement and it also means your monthly repayments are lower.
With i-Deal, you can choose a repayment term anywhere from 20 to 48 months and you also select an appropriate annual mileage of between 5,000 and 35,000 mile.
When you're working out your annual mileage try and base it on what you have done in the past. Make your allowance generous and then you can really enjoy the time you spend behind the wheel.
Going over your limit
If you do go over your agreed annual mileage then you will need to pay an excess mileage charge. This is calculated on a pence-per-mile basis and will be shown on your finance quotation.
Going under your limit
If you cover fewer miles than you anticipate, your car might be worth more than originally estimated, which means that you might have some equity to put towards your next car.
At the end of your i-Deal agreement you have the flexibility to choose one of three options:
- Part-exchange your Fiat
We aim to ensure that your final payment should be less than the actual value of your car. This means you should have some equity to put towards your next car.
- Return the car
You can simply hand back the car and the keys and walk away. You'll just need to make sure that you haven't gone over your agreed mileage and your car is in good condition. Of course, we allow for the normal wear and tear of daily use. It's in your interest to keep your car looking its best inside and out.
- Keep the car
All you need to do is pay the outstanding amount (balloon payment) and you can keep the car. You can choose to pay this with a loan which can be spread over 12 or 24 months. All loans are subject to credit approval.
HOW HIRE PURCHASE WORKS
First you put down a deposit - as a cash payment or from the value of a part-exchange, or both. You then arrange a regular monthly payment amount over a term of between one and five years. Then at the end of your agreement, and providing you have paid all your installments, the car is yours to keep. It doesn't get much easier than that.
If you have built up a deposit to finance part of the cost, this will be reflected in your monthly payments. Your chosen agreement length also affects this. The plan is designed to be a really simple way of spreading the cost of your car.