What is a prestige car? You know one when you see one. In many ways, the prestige label is very much in the eyes of the beholder.
Qualities such as a distinctive styling, level of performance, luxury, comfort, and well-equipped interior might all go into distinguishing a prestige car, suggested Car Buyer magazine in an article on the 3rd of January 2019.
Prestige cars also have a habit of being in the vanguard of motor engineering innovation that is eventually adopted by the industry as a whole – just think of the anti-lock braking system devised by Mercedes two decades ago. Now, anti-lock braking is a legal requirement for all cars.
All in all, therefore, prestige cars are a cut above the rest of the pack – and, just as you would expect, you need to pay somewhat more for the privilege of owning one.
Which takes us on to the question of prestige vehicle finance – and how to get it.
Never mind what other people might recommend as a prestige vehicle, you know yours when you see it and set your heart on acquiring one – whether brand new or second hand:
On the basis of your replies to those few variables, you are likely to get much closer to an estimate of how much you are likely to need to borrow. And it is at this stage that your most productive course of action is likely to lie with a specialist broker of prestige vehicle finance.
A specialist broker has the expertise and experience to trawl the whole of the market to find not only the most competitive rates of interest, but also the type of finance deal likely to suit your particular needs and requirements.
If you are set on ultimate ownership of the prestige car, for example, the types of finance might be hire purchase or lease purchase. If you want to have exclusive use of a new car for between three and five years but retain the option of just handing the car back to the finance company at the end of that period, with nothing more to pay, you might choose Personal Contract Hire (PCP).
If ownership is never going to be the conclusion you want to reach, you might consider a straight forward contract hire agreement and rent your prestige car for as long as the agreement lasts.