Renault has become the latest van maker to off a three-month payment holiday on new vans, launching a new Renault Pro+ ‘Drive Now Pay Later’ scheme.
Opt for a four-year Lease Purchase or a five-year HP scheme on a new Renault van, and you won’t have to pay anything for the first three months. Better yet, the Renault deals are available on factory order vans as well as those already in stock, and subject to 0% APR – which means no interest charges.
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Which Renault vans are available under the Drive Now Pay Later offer?
Nearly all of them. Renault specifically lists the Kangoo, Kangoo ZE electric van, Trafic, Master and Master ZE electric van as qualifying for the offer.
Are the first three months actually free?
Not in this instance. While the Volkswagen ‘Back to Work’ scheme covers the cost of the first three payments – effectively making that deal an automatic discount – the Renault scheme ‘defers’ them. This means the cost of the first three payments is spread across the remaining payments, so you aren’t quite getting something for nothing here.
In other words, it’s a true payment holiday, rather than a discount.
It’s also worth noting that these are particularly lengthy agreements of four and five years, so will only suit people who intend to keep their van for that length of time. The vans are covered by a three-year / 100,000-mile warranty – so for the last years of the agreement they won’t have warranty cover.
You will also need to pay a minimum 20% customer deposit, whereas VW has offers that require zero deposit. That the Renault deals are interest free (0% APR) is worth considering, though; Volkswagen’s PCP option (similar to Renault’s Lease Purchase) is 3.5% APR.
Are there any example monthly prices?
Renault has provided the following examples, all based around a five-year HP scheme with 0% APR:
- Renault Kangoo ML 19 Energy dCi 80 Business: £216 per month
- Renault Kangoo ML20 ZE 33 Business: £294 per month
- Renault Trafic SL28 Energy dCi 120 Business: £285 per month
- Renault Master MM35 dCi 35 Business: £360 per month
HP – or Hire Purchase – means you will own the van outright at the end of the agreement. The alternative Lease Purchase, available over four years, leaves you with a balloon payment to cover at the end if you want to keep the van, making Lease Purchase similar to a PCP finance scheme.
What’s the small print?
Full terms and conditions can be found on the Renault Pro+ website.
The scheme runs until 30 September 2020, and applies to vans registered by then.
Any other ‘payment holiday’ van offers around at the moment?
We’ve already mentioned Volkswagen, which is giving van buyers three months free on stock vehicles, but it was Ford that kicked this idea off for vans, and is giving customers up to six months without payments with the Ford Peace of Mind scheme. This was due to end in May 2020, but we’re checking on that, too.
Alternatively, Citroen is offering up £10,000 discount when you trade-in an old van.
Also read:
>> What is a van payment holiday – and how to get one
>> Pay nothing for three months on new Volkswagen van with Back to Work offer
>> Ford offering six-month payment holidays to NEW van buyers
>> Save up to £10,000 on new Citroen vans with Swappage scheme
