Buying a used Renault with hire purchase (HP) car finance

Renault is a French automotive manufacturer known for producing a wide range of vehicles, from practical city cars to stylish crossovers, with a focus on innovation and comfort.

At AutoMoney Motor Finance we can help you secure HP car finance on a used Renault within minutes.

What’s more we can complete your deal the same day, so you can drive home with your chosen Renault model straight away.

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

Contents

Want to know more about buying a used Renault?

If you’re considering purchasing a used Renault, here’s a detailed look at what you should know about its strengths and weaknesses:

Strengths of Renault

  1. Innovative Design: Renault vehicles are known for their distinctive and modern design. Their bold styling and attention to detail make them visually appealing and contemporary.
  2. Comfort and Practicality: Renault prioritises comfort and practicality in its vehicle designs. Models like the Renault Clio and the Renault Captur offer spacious interiors, ergonomic seats, and ample cargo space, making them ideal for families and daily use.
  3. Fuel Efficiency: Renault has a strong focus on fuel efficiency across its range of vehicles. Many models offer economical engines that help reduce fuel costs over time, which is beneficial for budget-conscious buyers.
  4. Advanced Technology: Renault incorporates advanced technology into its vehicles, including features like R-Link infotainment systems, advanced driver assistance systems, and efficient hybrid powertrains. Even older models often come equipped with impressive tech features.
  5. Safety Features: Renault vehicles are equipped with a range of safety features and often perform well in safety tests. Features like lane departure warning, automatic emergency braking, and adaptive cruise control enhance driver and passenger safety.
  6. Affordability: Renault vehicles tend to be more affordable than many competitors, offering good value for money. This affordability extends to used models, making them an attractive option for budget-conscious buyers.

Weaknesses of Renault

  1. Depreciation: Renault vehicles can experience significant depreciation, particularly in the first few years. While this can be advantageous for used car buyers, it's something to consider if you plan to sell the car in the future.
  2. Build Quality: Some Renault models have been criticised for their build quality, with reports of issues related to interior materials and long-term durability. It's important to inspect the vehicle thoroughly for any signs of wear and tear.
  3. Electrical Issues: Certain Renault models have been known to experience electrical problems. Research specific models and check for any common electrical issues or recalls to ensure you're making an informed decision.
  4. Performance: While Renault offers a range of efficient engines, some models may not provide the same level of performance or driving dynamics as competitors. If performance is a priority, be sure to test drive the vehicle to ensure it meets your expectations.
  5. Limited Dealer Network: In some regions, the availability of Renault dealerships and service centres may be limited compared to more ubiquitous brands. This can impact convenience for servicing and repairs.

Tips for buying a used Renault

  • Research Specific Models: Popular models like the Renault Clio, Megane, and Captur each have unique characteristics. Research specific model years for any common issues or recalls to ensure you make an informed decision.
  • Check Service History: Ensure the vehicle has a comprehensive service history. Regular maintenance by authorised Renault service centres is a good indicator of a well-cared-for car.
  • Inspect for Wear and Tear: Look for signs of wear and tear, especially on high-mileage models. Pay close attention to the condition of the interior, electronics, and suspension components.
  • Consider Certified Pre-Owned: Buying a dealership-certified pre-owned Renault offers benefits like extended warranties and rigorous inspections, providing added peace of mind.
  • Evaluate Running Costs: Factor in potential running costs, including insurance, road tax, and fuel consumption, to ensure the car fits within your budget. Renaults generally have reasonable running costs, but it's important to consider maintenance expenses, especially for older models.

Overall, a used Renault can offer a stylish, comfortable, and practical driving experience with advanced technology and good fuel efficiency. By doing thorough research and inspections, you can find a high-quality used Renault that meets your needs and provides lasting satisfaction.

Buying a used Renault with HP car finance

One of the ways to buy a used Renault, if you do not have enough money to pay for it in full straight away, is to use Hire Purchase car finance (HP car finance).

This is where you ‘hire’ the Renault from us, spreading the cost of the car over monthly payments to us. These payments contribute towards you ‘purchasing’ (buying) the Renault from us at the end of the term of the borrowing, when you also pay a one-off “option-to-purchase” fee.

At this point you own the Renault completely and our contract comes to an end.

The pros and cons of HP car finance

Borrowing money to buy anything comes with risks, as well as rewards.

Buying a used Renault could be the right choice for you and an ideal solution to the practical challenges of getting about day to day. However, whilst a used car can be significantly cheaper than its brand new alternative, it still involves spending a lot of money.

When you borrow money, you need to make sure you can keep up with payments comfortably. You will have other bills to pay and necessary things to buy, so you don’t want to find that the payments on your Renault are leaving you short of money each month.

There are also other considerations when buying a used car and below we share the pros and cons, to help you decide if applying for HP car finance is right for you.

The pros

  • Drive away in a Renault today: with HP car finance you can get a Renault, even if you don’t have all the money for it right now.
  • Spread the cost of owning your Renault: cars are expensive, but are often an essential part of daily life. When you buy your Renault with HP car finance, you can pay for it gradually over time.
  • Manage your finances: HP car finance comes with a clear payment plan. You can easily compare what your finances will look like each month by taking away the money your Renault will cost you, alongside your other bills and costs, from your income to make sure it is affordable for you.
  • Decide how much you can afford each month: if you find the Renault you are looking at is too expensive per month, you can look at other options, with lower monthly costs.
  • Choose a term that suits you: you can repay over 3-5 years, which will impact the monthly cost to suit your monthly finances. Borrowing for longer reduces the monthly cost, but be aware it may increase the total amount you repay.
  • Own your Renault at the end of the term: If you keep up with your monthly payments, and can afford the “option-to-purchase” fee, you will own your Renault at the end of the term of your agreement.

The cons

  • Delayed ownership: You won't own the car until the final payment is made. Missing payments could result in your Renault being repossessed.
  • Depreciation: Used cars can lose value quickly. You might end up paying more than the Renault is worth over time.
  • Higher total cost: The total amount paid, including interest and fees, will be much higher than the Renault's purchase price.
  • Insurance requirements: Comprehensive insurance is required, which can be more costly.
  • Credit impact: Missing payments can negatively affect your credit score, making future borrowing more difficult.
  • Repossession risk: Failure to make payments can lead to the car being repossessed, possibly leaving you with outstanding debt.

Please make sure you read and understand your hire purchase agreement, maintain your car and ensure you can afford the payments before committing.

Why get HP car finance with AutoMoney Motor Finance?

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Ready to apply?

We hope you found the information on this page useful. If you are now ready to apply for HP car finance with us, we’d be pleased to help.

Get started with an application using our online form:

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

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