Month: February 2016

There are many pros and cons to take in to consideration when buying a prestige or performance car.

Once you’ve decided on the type of model you would like to purchase, quite often the decision of whether to buy brand new or to opt for a second hand vehicle can also come in to play. Oracle Finance is always on hand to offer impartial advice on the purchase of your next luxury car and we’ve compiled a few tips to help you on the way.

Factors to consider when buying your next car

1. Depreciation – most new cars depreciate in value immediately after being bought
2. Costs – a new car may come with higher insurance premiums whereas a used car may incur slightly higher costs for maintenance and repair
3. Warranties – a new car will have a manufacturers warranty, usually for 3 years, whereas buying a used vehicle may see the need to purchase a warranty separately if the initial 3 years has passed
4. Reliability – no car can be guaranteed to be 100% reliable but when buying used you will need to take in to account the possibility of previous problems
5. History – again, there are never any guarantees but with new at least you know it’s only you that has owned the vehicle.

Advantages of buying a new car

• Investing in a new car obviously offers the most reliability.
• A new car will have had a pre-delivery inspection by the dealer, a warranty, free or discounted servicing and no MOT to pay for in its first three years.
• There are also the benefits of the best fuel economy, lower running costs and a decent residual value after its first few years of use.

Disadvantages of buying a new car
• Purchasing a new car will inevitably be more expensive and could depreciate up to 40% in value over 3 years.
• Insurance for new cars is understandably higher than used
• Special edition and much sought after models will maintain a higher re-sale value .

Advantages of buying a used car
• Buying a well-loved and maintained vehicle second hand can often mean you get the model you want or a higher spec than you would on a new version 
• Cheaper car insurance may apply and the running costs can be lower if the car is well looked after.

Disadvantages of buying a used car
• There are always risks buying a used car, especially taking in to account potential reliability and performance concerns.
• It’s also good to run a vehicle check to thoroughly ensure it has not been previously stolen, in a crash or sold by a bogus owner.

Whilst the luxury car market differs from the vehicles of a lesser value it’s always good to take time and consider what you want out of your new car. Is it performance, luxury, reliability, residual value or something else?

By opting for vehicle finance with Oracle you are able to offset some of the financial commitments over a longer period of time and in turn you can often enjoy driving a higher spec vehicle than you would if you were to purchase outright.

Contact Oracle today to discuss the variety of low rate finance deals we offer on any new or used vehicle purchased from a Uk dealership.

Next to buying a home, investing in a car is the second most expensive purchase that consumers will make in their life. It’s important to get the right vehicle at the right price so research is essential.

Oracle’s top 10 tips before heading out to buy:

1. Set your budget – it’s important to not only set a budget but actually stick to it! It’s also a good idea to set some extra aside for future repairs, maintenance, insurance and tax costs.
2. Research – The internet is a great starting place with various advice guides widely available showing the recommended price of cars based on model, age, mileage etc
3. Word of Mouth – Talk to other car owners about their experiences, particularly in terms of fuel consumption and reliability, this information can be invaluable.
4. Finance – A valuable option to preserve your own capital, allowing you to pay for your car from future cash flow. It is important that you compare the total amount payable for the finance rather than just the monthly payment.
5. Dealer incentives – look out for any cash incentives that dealers are offering to try and boost slow sales.
6. Test drive – the test drive should last at least 20 minutes to ensure you are comfortable with it, check all the buttons on the dashboard, the electric windows and radio.
7. Warranty – always check what the warranty does and doesn’t cover. If the dealer is confident in the car, a 6 month warranty should be the minimum they offer.
8. Get everything in writing – This is extremely important as it can act as a checklist for any agreed or promised work.
9. Know your credit score – If you know your credit score before you apply for the finance, it will help you determine whether you qualify for special deals such as 0%APR or cash back.
10. Be flexible – if you can be flexible, often car manufacturers offer dealer incentives for selling certain models so you may be able to spend less money than you budgeted.

 

I am a VERY happy bunny!

Thanks so much to you and your teams for all your help/assistance and achieving a 100% perfect service/car – first time in 25 years of buying cars that ALL the boxes were ticked.

 

A survey conducted by Oracle Finance, the prestige car finance specialist, has shown an increase in buyers funding sports and prestige cars during 2010, despite the continued reports of a tough economic climate.

Oracle has seen an increase in the number of prestige and sports cars being financed over the course of 2010 amounting to an increase of 11% in comparison to 2009.

This upturn in spending is a strong indicator that buyers in the luxury car bracket were keen to take advantage of low interest rates and excellent vehicle finance deals without the burden of paying for a vehicle outright. Ultimately this demonstrates a clear intent from buyers to secure a good deal before inflationary pressures force interest rates to rise. 

The team at Oracle witnessed a strong year for Range Rover with the Sport in particular accounting for almost 10% of the vehicles financed throughout the year and the Range Rover brand accounted for almost 18% in total of the finance deals they agreed. Audi sat happy as the 2nd most popular car accounting for 14% of the finance written with Oracle but was closely followed by BMW (12%), Porsche (9%) and Aston Martin (9%), in a survey which analysed buying trends of car owners in the £25k bracket and over.

The belief at Oracle is that part of the reason for the increase in activity at the top end of the prestige market is also helped at present by the reduced rate at which luxury vehicles depreciate in comparison to lower value and lower spec models. By purchasing a higher spec model and paying the balance over a 2, 3 or 4 year period buyers aren’t taking the hit of laying down large amounts of cash on an outright purchase and they won’t feel the negative equity when they decide to change car. 

Oracle’s findings also point towards their client base, which is made up primarily of business owners, key decision makers and successful entrepreneurs, using their eye for a deal by not simply going with dealer finance and instead looking for alternative finance providers who are able to offer a good deal and an efficient service. Findings point to these customers making a conscious effort to treat the buying process as two different transactions. As opposed to purchasing the car and finance from the dealer the first transaction being the purchase of the car and the second being the finance deal they secure  to do so.

Peter Brook, Managing Director at Oracle, commented: “Although the challenging economic climate has generally slowed spending on luxuries, we have continued to see a high demand for prestige vehicles. We have formulated arrangements and partnerships with the leading lenders in the UK and internationally, which allows us to provide the finance packages to meet our customers’ needs. As we aren’t affiliated to one car brand we tend to have a very savvy clientele who view finance as a separate transaction to purchasing a vehicle, thereby sourcing the best quotes available.”

Read more about this story on The Daily Telegraph website: http://www.telegraph.co.uk/motoring/news/8313657/Luxury-car-market-still-buoyant-says-report.html

Oracle Finance is bucking the trend for downsizing in the current economic climate and has recently appointed four new members to the team, two of which are recent graduates, as the business continues to grow. With over 60 candidates applying for the positions, a rigorous selection process saw each recruit undertake a number of interviews and psychometric testing before landing their new role.

Oliver Clarkson from Wetherby, who previously worked in real estate and web sales, has joined the team as Account Manager. His responsibilities include lead generation and new business development as well as managing the portfolio of new, existing and prospective customers. Oliver wanted to work at Oracle as he felt it was a fantastic opportunity to work with the market leader who last year financed over £250 million worth of high value cars including the likes of the exclusive Bugatti Veyron, Ferrari 458 and Pagani Zonda.

After graduating, Rachel Kiddle worked in an estate agency as a sales negotiator. As an Account Manager at Oracle, Rachel is responsible for building relationships with customers, discussing their requirements and providing a bespoke finance package to meet their needs. In fact, Rachel has already landed a deal financing a new Bentley Mulsanne at a cost price of £230,000.

Sandy Bates and Waseem Afsar join the Oracle team fresh from University and are already building a solid skill base through undertaking a number of in-house and off site training courses set up by the company. A firm believer in continual professional development, Oracle offer plenty of scope for, and progression within, the business and finance market in general, so these new employees are taking full advantage to advance their skills through the company’s investment in learning.

Peter Brook, Managing Director at Oracle, commented: “We are a very positive, forward thinking business and we have worked extremely hard to build up contacts and relationships with our customers. This has meant that we have continued to expand when other companies in our industry have struggled and we have continued to deliver unparalleled levels of service. The appointment of four new employees was necessary because we are so busy and the fresh new ideas and skills they have brought with them will be incredibly valuable to us going forward. As two of the candidates were relocating to the area, we helped them find accommodation and took on the rental costs until they found their feet, which is testament to the contribution we believe they will make to the business. ”

Hi Louise

Just a quick note to thank you for your exceptional service – again!!

If only all business transactions could be made this efficient and warm. Yes, warm. Because you manage to inject your lovely personality into the deal and make parting with the money seem like such a natural outcome. I have dealt with many finance companies but have yet to experience customer service like yours. You are so prepared to go the extra mile on my behalf and that is so appreciated.

You are now my official financier and I will certainly be coming back for more in the not too distant future.

Many thanks again.
Warmest regards

With the new and used car market hotting up this summer Oracles staff are working harder than ever to ensure the service provided and finance packages on offer are the very best in the industry. Call us for a quotation today if you’re considering buying ANY sports or performance car from ANY uk motor dealer.

The 458 is fast becoming hottest property for this year and Ferrari are only due to deliver circa 250 per year into the UK with the waiting list currently almost 2 years. Oracle can finance both right and left hand drive versions and can agree terms well in advance of delivery, call us for a quotation should you have a 458 or any specialist sports or prestige caron order. 

 

Earlier this month Atalanta officially unveiled an updated version of their Sports Tourer, 75 years after the model was 21 vehicles were made between 1937 and 1939 and of those only seven remain and four are in first made public. working order. The new updated model was revealed earlier this month at the Royal Automobile Club in London.

The new model was intended to “sensitively bring the original Atalanta design up to date, delivering modern motoring needs of safety, reliability and performance but still remaining true in spirit to the Atalanta sports car ideals and deliver the quality of product that this marque deserves”.

Limited commissions for the Atalanta are being taken and each car can be built to the customer’s individual preferences.

Oracle Finance providing flexible finance for exceptional cars.
T: 08450 944 997