0% APR finance

[ChrisJ]

Emira stock on sale at 0% APR in case of interest ...

https://www.caffyns.co.uk/lotus/offers/lotus-emira-with-0-apr-representative/

 

[Time2Fly]

Damn I wish this was in the US.

 

[K_Squared]

You do still have to fork out 50% of the cost of the car up front. Being able to finance the rest at 0% is definitely a decent deal though assuming there aren't too many restrictions apart from the 15K mileage which seems plenty high.

 

[SONOFEMERY]

Wow that's kinda awesome, yes wish this was in the US. Are they doing this to get rid of inventory?

 

[Time2Fly]

You do still have to fork out 50% of the cost of the car up front. Being able to finance the rest at 0% is definitely a decent deal though assuming there aren't too many restrictions apart from the 15K mileage which seems plenty high.

50% down isn't a problem at all. Was that 15k annual miles for the two years of the loan?

 

[Porter]

50% down isn't a problem at all. Was that 15k annual miles for the two years of the loan?

This is a UK-specific car finance method, it's like a hybrid between a lease and a purchase. Usually there's a large balloon payment at the end. This particular version has the large payment at the beginning, instead.

 

[brainf18]

I think when the initial batch of Lotus aficionados who've waited patiently for the Emira have possession of their cars demand for the Emira will wane and be more in line with the current market for 2 seat sports cars. I wouldn't be surprised if the Emira fails to matched the Supra at about 2500 per year after the initial surge is over.

Then Lotus will get aggressive with incentives and interest rates to move units. But we are at least 12-18 months away from that.

Toyota Supra Sales Plummeted Last Year Because You All Have Terrible Taste

Supra sales are down 46 percent year over year. I'm not mad, I'm just disappointed.

jalopnik.com

 

[Blackthought_]

Someone needs to share where we can get 0% APR for US based folks, rates are crazy high right now!

 

[Speedy Emira]

Great offer and probably because of the long delays. At last Lotus offer something decent for the US customers.

 

[Lotustoronto]

I think when the initial batch of Lotus aficionados who've waited patiently for the Emira have possession of their cars demand for the Emira will wane and be more in line with the current market for 2 seat sports cars. I wouldn't be surprised if the Emira fails to matched the Supra at about 2500 per year after the initial surge is over.

Then Lotus will get aggressive with incentives and interest rates to move units. But we are at least 12-18 months away from that.

Toyota Supra Sales Plummeted Last Year Because You All Have Terrible Taste

Supra sales are down 46 percent year over year. I'm not mad, I'm just disappointed.

jalopnik.com

If Lotus sells 2.5k Emira’s in the US in any given year is a HUGE win for Lotus. They would never offer incentives with those types of sales. That is over half of Hethel’s annual production. As an example in 2021 Lotus sold 161 evora’s.

With that said after the initial 3k (estimate) 2024 first editions are finished, I expect 1.5k annual US sales to be considered very good. I don’t think you will see incentives until sales go below 500 units a year.

 

[kitkat]

I have a 0% APR in the US, but I had to put 100% down.

 

[trackday14]

This is a UK-specific car finance method, it's like a hybrid between a lease and a purchase. Usually there's a large balloon payment at the end. This particular version has the large payment at the beginning, instead.

Actually, BMW used to do that finance method in the U.S.

 

[brainf18]

If Lotus sells 2.5k Emira’s in the US in any given year is a HUGE win for Lotus. They would never offer incentives with those types of sales. That is over half of Hethel’s annual production. As an example in 2021 Lotus sold 161 evora’s.

With that said after the initial 3k (estimate) 2024 first editions are finished, I expect 1.5k annual US sales to be considered very good. I don’t think you will see incentives until sales go below 500 units a year.

On second thoughts my projections where likely optimistic and you're probably right. 1000 units annually is about all they can hope for as the initial "new to market" hype fades

 

[Speedy Emira]

I have a 0% APR in the US, but I had to put 100% down.

Same here Kitkat but it would have been nice to leave the money in an account that made some interest. 👍🏻

 

[Blackthought_]

Now that cars are being delivered in the US, anyone out there financing either through lotus or separately? What kind of rates you guys seeing out there?

 

[IRN_M8DEN]

Now that cars are being delivered in the US, anyone out there financing either through lotus or separately? What kind of rates you guys seeing out there?

I'm getting 5% with my bank.

 

[Time2Fly]

I'm getting 5% with my bank.

What bank? Mine says 7. The dealer says 8.

 

[IRN_M8DEN]

What bank? Mine says 7. The dealer says 8.

PenFed

 

[Blackthought_]

PenFed

Nice! Their website shows the lowest is 5.24% using their car buying service.. they gave you a better rate?

 

[IRN_M8DEN]

Nice! Their website shows the lowest is 5.24% using their car buying service.. they gave you a better rate?

You got me. It's 5.24%.