Frequently Asked Questions
I notice that Alfa Romeo Preferenza includes a fixed mileage. What happens if I exceed my agreed limit?
If you choose to hand your vehicle back there will be an excess mileage penalty to pay if you significantly exceed your agreed annual mileage. It is calculated on a pence-per-mile basis, and this figure will be shown on your finance quotation. When deciding your fixed mileage figure, it's a shrewd idea to overestimate slightly for total peace of mind. If you do not cover as many miles as you estimated, your vehicle will be worth more, and you will have a greater chance of equity at the end of the agreement.
Agreements always state that vehicles must be handed back in good condition. What does that really mean?
A Good condition allows for the normal wear and tear of daily use. Only significant damage or abuse would cause a problem. Naturally it is always in your best interest to keep your car in good condition.
The word equity is often used when talking about Alfa Romeo Preferenza. What precisely does it mean here?
The final payment on your car is an estimate of its value at the end of the agreement - the guaranteed minimum future value. If the actual value of your car exceeds this figure at the end of your agreement, the extra money is equity, that you can use as a deposit on your next car. We always try to keep the final payment lower than a typical trade-in value, to increase the possibility of you benefiting from this equity, but it should be viewed as a bonus rather than a certainty. You could say that you can win but you can't lose!
I've opted out of my company car scheme and now have a monthly vehicle allowance instead. Which plan should I be looking at?
Alfa Romeo Preferenza is particularly apt for those leaving traditional company car schemes, because your allowance will meet monthly payments, but you still enjoy the advantages of protection from depreciation and you can still hand the car back at the end of your agreement, and drive the latest model. The add-on options such as insurance and servicing* make Alfa Romeo Preferenza a perfect company car replacement, allowing you to enjoy many of the hassle-free advantages of running a company car and the tax advantage of opting out!
* launch date to be confirmed, for details, please see our Alfa Romeo Preferenza brochure.
What happens if I want to get out of my finance agreement?
If at any point you decide you would prefer to end your agreement early, simply contact Alfa Romeo Financial Services and they will calculate the exact amount owing. For further information on how the figures are calculated, you can talk to your Alfa Romeo Dealer.
What happens if my car is written-off or stolen during the term of my agreement?
This is a common concern, because in these circumstances there may be a shortfall between the insurance payout and the outstanding balance of your finance agreement. There are a number of innovative schemes designed to protect you in these circumstances, and get you back in the car of your choice without delay. To find out more, please refer to our Protection brochure, available at our showroom.
HWM Alfa RomeoBridge Street
Phone: 08444 708285
Fax: 01932 237802