Iveco has launched a new six-month payment holiday offer alongside two new, low rate finance schemes as it bids to get customers into its Daily van range as the coronavirus (COVID-19) lockdown begins to properly ease.
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Which models are available with the six-month payment holiday?
The offer is available on all Daily panel van and chassis cab models, as long as they are ordered before 30 September 2020 and registered by 31 March 2021.
As this suggests, it means you can defer payments on brand new factory orders as well as stock vehicles.
What are the new finance options?
Iveco has a new 1.59% interest rate on its business finance, and a new Hire Purchase (HP) scheme that starts from £350 per month. Neither requires you to pay anything for the first six months.
To be clear, Iveco isn’t covering the cost of the initial six months of payments, this is being deferred instead – so in this sense it really is a payment holiday rather than a discount. You’ll still be covering the total cost, it’s just that the first six months’ worth will be distributed evenly across the remaining payments instead.
Have there been any other similar schemes?
Payment holidays have been a hot topic since the coronavirus pandemic kicked off, and Ford, Renault and Volkswagen are all offering similar (though subtly different) schemes on their new van ranges. It’s possible to get a payment holiday on the Nissan e-NV200 electric van as well.
Why is Iveco doing this?
Light business-line director of Iveco, Mike Cutts explained: ‘We know that times are tough for operators right now, but by pulling together we can ensure that businesses keep moving. With these new offers, we can help customers manage their vehicle costs the minute the tyres hit the tarmac.’
Also read:
>> Our main Iveco Daily review
>> What is a payment holiday and how do I get one?
>> Ford offering six-month payment holidays to new van buyers
>> Pay nothing for three months on new Volkswagen vans
>> Renault offering three-month payment holiday on new vans
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