Donnithorne Simms Mitsubishi offers tailor made solutions to make buying a new or late model Mitsubishi vehicle as easy and affordable as possible. Our suite of Mitsubishi Finance products includes credit contracts, full maintenance and non maintenance leasing, no and low deposit finance, New Zealand's Best Car Deal, deferred payments, seasonal payments - in fact we go out of our way to find the perfect solution for your needs.
Our service is highly competitive and completely confidential - you can even apply for car finance on line from the comfort of your home or office.
There is no need to put your house up as security, or burn up other valuable lines of credit elsewhere.
Contact us today and ask about how affordable we can make your next Mitsubishi.
Hire Purchase
This also is based on the vehicle of your choice, and is also owned by you, the customer. Once again, you have the option of putting in a deposit, or you can base it upon a no deposit deal. Payment options are flexible, and include residual (balloon) payment options as well, subject to finance company approval. If you are GST registered, you can claim the full amount of GST paid on the vehicle when you complete your next return. We can then put this amount into your payments to reduce the amount paid per month if you so require.
There are two types of Leases available, Operating Lease and Financial Lease (known also as Lease to Own). An Operating Lease has two options also, Fully Maintained and Non Maintained. Also available is the standard Hire Purchase Contract.
Operating Lease – Maintained
This is a vehicle chosen by you but owned by the lease company. All Service, WOF and Registration costs are included in the monthly payment, with the only costs required by you, the customer is the normal day to day running. Tyres are normally included also, on a replacement cycle of a new set every 40 000 k’s traveled. These can be excluded though, talk to us regarding the best option to suit your needs. At the end of the lease term, the vehicle is handed back to the lease company and you walk away with no further obligation to the vehicle.
Operating Lease – Non Maintained
Once again, this is a vehicle chosen by you but owned by the lease company. However all Service, WOF and Registration costs are met by you, the customer, in addition to the normal day to day running costs. Again, at the end of the lease term, the vehicle is handed back to the lease company and you walk away with no further obligation to the vehicle.
Financial Lease
This is based on a vehicle chosen and ultimately owned by you, the customer. This option has a lot more flexibility for you in term of how the repayment options are handled. You have the option of a deposit offered as first payment, or based on a no deposit deal. At the completion of the lease term, there is an agreed residual (balloon) payment that has three options of repayment. If, at the end of the term, you no longer want to continue with that vehicle, you can upgrade to a new one and the trade in price (eg $25 000 ) is deducted from the residual (eg $10 000) to give you a net trade in value for your next vehicle (in this case $15 000 ). Or else if, at the end of the term, you wish to own the vehicle, you have a further two options. One, you pay the residual balance owing in one lump sum, or two, you can refinance the outstanding residual balance again at payments and term to suit. If you are GST registered, you can also claim back the monthly GST amount of the vehicles payment on your GST returns. As this is a lease agreement, you can also claim back up to the full monthly rental on the vehicle, and you don’t have on your books a depreciating asset. Upon the completion of all financial obligations, the option of ownership will be offered to you.
These are the basics of the financial options available. If you have any further questions regarding this, please contact me on 03 379 0588 or by email at brenda@simms.co.nz