Renault goes bang with zero per cent finance

RENAULT Australia is the latest company to offer super-low car finance, gazumping others by going all the way with a zero per cent comparison rate on four of its best-selling models that is available for a period of more than seven weeks.

The Renault ‘Big Bang Offer’ came just hours after Holden went public with a 0.5 per cent finance offer on most of the range for one week starting this Thursday, August 9.

Last month, Renault’s stablemate, Nissan, offered 1.0 per cent finance for a week, helping the company to an 18.2 per cent sales increase for July.

The Renault offer applies to Megane hatch, Fluence sedan, Latitude sedan and Koleos SUV from tomorrow (Wednesday, August 8), to the end of September.

The finance deal, by the in-house Renault Financial Services, applies over 36 months.

As well, Renault has sweetened the deal by joining the push to capped-price servicing for these models plus the Megane coupe-cabriolet, at a set price of $199 per service for three years.

From top: Renault Australia managing director Justin Hocevar Renault Latitude, Koleos and Fluence.

Renault Australia managing director Justin Hocevar said Renault cars required servicing only once every 12 months, unlike many rivals which demand twice-yearly visits to their dealer.

“This further reduces the annual running costs for Renault customers,” he said.

“Also unlike rivals, Renault offers a full five-year/unlimited-kilometre factory warranty on the passenger-car range, making the Renault ownership proposition unbeatable.”

The capped price service applies for three years or 45,000km (whichever comes first) on Megane, Fluence, Latitude, Megane Coupe-Cabriolet and Koleos diesel.

However, the Koleos petrol models are restricted to three years or 30,000km, and high-performance RenaultSport models are excluded.

Back in April, Renault offered three years of free servicing on Megane hatch, Fluence, Latitude and Koleos vehicles delivered before the end of May.

While the zero finance offer applies only to four of the core Renault passenger cars, buyers of other Renault models, including light commercial vehicles, are offered finance at a special 2.9 per cent comparison rate.

Renault is not the first company to come up with a zero per cent finance offer, with Proton making a similar offer in 2010.

Renault sales have grown 30 per cent this year, from a low base, spurred on by high-profile range advertising on television.

In July, the company shifted 353 vehicles – up 16.5 per cent on the same month in 2011.

This compares with rival Peugeot’s 340 sales – down 15.4 per cent – and Citroen’s 151 units, up 10.2 per cent.