The New Deal loan is the maxi final installment solution proposed by FinReanult (the French group’s financial company) for the purchase of a Renault car, from the small Twingo, New Clio and Modus, to the medium Kangoo, Megane and Scenic, to the large Lagoons , Espace and Koleos.
Characteristics of the New Deal loan
This is a classic loan from the maxi final installment. The value of the latter is determined based on the estimated value of the vehicle at the time it is to be paid. In fact it is called Guaranteed Future Value and, as such, it will not be influenced by market changes.
The phase prior to the maximum payment is a repayment plan of 24 or 36 installments. The value of this part of the loan is variable. When purchasing the car, its cost will be calculated minus the guaranteed future value.
The tan is 8.99%.
As for all the maxi final installments, at maturity, three options are possible:
– pay the maxi installment and keep the car (in cash or with additional financing)
– return the car to the dealer without additional costs
– purchase a new Renault with a new New Deal loan for a similar installment.
Who can apply for the New Deal loan
Funding can be requested for the purchase of new or 0 km Renault vehicles.
Personal documents (identity document and tax code) and personal income guarantees, such as pay slips or tax returns, are required. In some cases, FinRenault reserves the right to request ancillary warranties such as the presence of a third party who signs together with the principal, providing his income as a further guarantee.