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FINANCIALSERVICESSHOGUN VEHICLE

LEASINGSHOGUNHOME

YOUR NEW CARYOUR NEW VEHICLEFind the right finance product for you with a range of options from Shogun Financial Services and Shogun Vehicle Leasing.

Drive away in your new or used vehicle with a finance

arrangement that is right for you. You might not even

need a deposit, and our interest rates are fixed for the duration

of the agreement so you can budget more easily. Our range of

finance choices means you can find the

right one to suit you.

We are the chosen providers of vehicle

finance for the Mitsubishi dealer

network, with a range of hire purchase and

contract hire products


LEASINGSHOGUN

YOUR NEW CAR

Our finance helps to spread the cost of a new or used vehicle. Instead of paying the full amount upfront, you pay monthly plus interest. Mitsubishi dealers offer a range of finance products to suit individual preferences and circumstances, such as Hire Purchase, Personal Contract Purchase, Lease Purchase, Business Contract Hire and Personal Contract hire.

Finance is subject to status and is only available to UK residents aged 18 and over. Credit products are provided by Shogun Finance Limited, trading as Shogun Financial Services, 116 Cockfosters Rd, Barnet, EN4 0DY. Contract Hire and Guaranteed Asset Protection products are provided by Spitalgate Dealer Services Limited, which also trades as Shogun Vehicle Leasing, Watermoor, Cirencester, GL7 1LF.

VEHICLE FINANCE?

WHAT IS…

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YOUR NEW CARHOW DOES IT WORK?THE PRODUCTSEach of these products works a little differently, but in general terms we will buy the vehicle on your behalf and then you will repay the amount borrowed, plus interest.

PAYMENT DURATIONYou would typically pay a deposit, and makemonthly payments from 1-5 years to tailor the finance to meet your budget. The finance agreement is secured against the vehicle for the duration of the agreement, which means the vehicle will be owned by us until the final payment has been made, except in the case of Contract Hire products where there is no option to own the vehicle.

YOUR OPTIONS• Own the vehicle at the end of the agreement

(except Contract Hire)

• Or drive a new vehicle for a set term, handing it back at the end.* This is an option under Personal Contract Purchase (PCP*) and is the only option available under Contract Hire.

*Under our PCP product, you have the option at the end of the agreement to return the vehicle and not pay the final lump sum payment. If the vehicle is in good condition and has not exceeded the agreed maximum mileage, you will have nothing further to pay. Further information on what is considered good condition can be found at www.mitsubishi-cars.co.uk/goodconditionguide. If the vehicle has exceeded the agreed maximum mileage, a charge for excess mileage will apply.

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LEASINGSHOGUN

OUR PRODUCTSKEY CUSTOMER INFORMATION HIRE PURCHASE PERSONAL CONTRACT PURCHASE (PCP) LEASE PURCHASE CONTRACT HIRE/PERSONAL CONTRACT HIRE

Deposit RequiredFlexible deposit options - 0% deposit may be

available subject to statusFlexible deposit options - 0% deposit may be

available subject to statusFlexible deposit options - 0% deposit may be

available subject to statusFlexible Advanced Rental

Maximum Age of car at the End of the Agreement

14 years*** old. 8 years old. 7 years old. Only available on new vehicles.

Length of the Agreement 1 – 5 years. 2 – 3.5 years. 2 – 4 years. 2 – 5 years.

Ownership Options at the End of the Agreement

You own the vehicle, you can still part exchange.*

• Renew and part exchange.*• Retain and pay the final lump

sum to own the vehicle. • Return the vehicle (under the

goods return option).**

• Renew - Part exchange.*• Retain - Pay the outstanding lump

sum to own the vehicle.• Return the vehicle.

Fixed Payments

No Mileage Restrictions

Optional Maintenance

Large Lump Sum Payment at the End of the Agreement

Fully Comprehensive Insurance Required

* Part exchange is subject to settlement of your existing finance agreement, new finance agreements are subject to status.

** You have the option at the end of the agreement to return the vehicle and not pay the final lump sum payment. If the vehicle is in good condition and has not exceeded the agreed maximum mileage, you will have nothing further to pay. Further information on what is considered good condition can be found at www.mitsubishi-cars.co.uk/goodconditionguide. If the vehicle has exceeded the agreed maximum mileage, a charge for excess mileage will apply.

***Some exceptions apply.

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FINANCIALSERVICESSHOGUN

Hire Purchase could help you buy your dream vehicle whilst spreading the cost. Agree an initial deposit, agreement term and monthly payment amount with your dealer, who will then submit the finance application to us. Subject to your application being approved, you can just drive it away – after you’ve made all the payments, including interest, the vehicle’s all yours.

THE VEHICLE YOU WANT AND PAYMENTS TO SUITYOUR BUDGET – WITH SHOGUN FINANCIAL SERVICES...

HIRE PURCHASE

HIRE PURCHASE


HIRE PURCHASE

HOW IT WORKS

HIRE PURCHASE

3 Choose your new or used vehicle.3 Borrow any amount from £1,000 for

new or used vehicles.3 Set payments to suit your budget.3 Vehicles up to 14 years* old at the

end of the agreement repay over 1-5 years.

3 Flexible deposit options – 0% deposit may be available subject to status.

*Some exceptions apply.


HIRE PURCHASEFLEXIBLE DEPOSIT OPTIONS – 0% DEPOSIT MAY BE AVAILABLE SUBJECT TO STATUS

BALANCE (plus fixed interest)PAY OVER THE CHOSEN PERIOD 1 – 5 YEARS IN EQUAL MONTHLY PAYMENTS

AFTER ALL THE PAYMENTSHAVE BEEN MADE,

YOU OWN THE VEHICLE

WHAT WILL YOU PAY

HIRE PURCHASE


HIRE PURCHASE

WHAT YOUNEED TOKNOW

HIRE PURCHASE

CUSTOMER BENEFITS3 Fixed regular repayments – easier

budgeting.3 Ownership – you own the

vehicle outright at the end of the agreement.

3 Choice - choose any new or used vehicle up to 10 years old.

3 Flexible terms – variable deposits and periods available.

3 Protection – You have Termination and Satisfactory Quality Rights.

CUSTOMER RISKS3 Ownership – you do not own the

vehicle until the final payment is made.

3 Repossession – your vehicle is at risk of repossession if you do not maintain the contractual payments.

3 Insurance - you must have fully comprehensive cover.


With our Personal Contract Purchase, you can keep your monthly payments lower, by deferring a significant proportion of the amount of credit to the final payment at the end of the agreement. Agree an initial deposit, how many miles you are likely to travel each year and agreement term, your dealer will calculate the Guaranteed Future Value (GFV) for your vehicle, confirm your monthly payment and submit an application to us. Subject to your application being approved, you can just drive your vehicle away.

Your options at the end of the agreement:1) Renew - part exchange your vehicle for a new one via your Mitsubishi dealer,

subject to settlement of your existing finance agreement; new finance agreements are subject to status.

2) Retain - pay the final lump sum payment to own the vehicle.

3) Return - return the vehicle to Shogun Financial Services under the Goods Return Option, instead of paying the final lump sum payment. If the vehicle is in good condition and has not exceeded the agreed maximum mileage, you will have nothing further to pay. Further information on what is considered good condition can be found at www.mitsubishi-cars.co.uk/goodconditionguide. If the vehicle has exceeded the agreed maximum mileage, a charge for excess mileage will apply.

PERSONAL CONTRACT PURCHASE

PERSONAL CONTRACT PURCHASE (PCP)



HOW IT WORKS



new or used vehicles.3 Set payments to suit your budget.3 Repay over 2 – 3.5 years.3 Flexible deposit options – 0% may

be available subject to status.3 Personal Contract Purchase is

available to Limited Companies on a non regulated basis.

3 For used vehicles the maximum permitted vehicle mileage at the start of the agreement is 3,000 miles per month of age or 60,000 miles

3 Set your annual mileage - up to 24,000 miles a year.

3 Guaranteed Future Value if the vehicle is returned to us under the Goods Return option.



WHAT WILL YOU PAY

AT THE END OF YOUR CHOSEN PERIOD YOU HAVE 3 OPTIONS:

Renew - part exchange it for a new model*

Retain - pay the final lump sum to own the vehicle

Return - Return the vehicle to Shogun Financial Services

(under the goods return option)**

FLEXIBLE DEPOSIT OPTIONS – 0% DEPOSIT MAY BE AVAILABLE SUBJECT TO STATUS

1

2

3

* Subject to settlement of your existing finance agreement, new finance agreements are subject to status.

** If the vehicle is in good condition and has not exceeded the agreed maximum mileage, you will have nothing further to pay. If the vehicle has exceeded the agreed maximum mileage, a charge for excess mileage will apply. Further information on what is considered good condition can be found at www.mitsubishi-cars.co.uk/goodconditionguide.

BALANCE (plus fixed interest)PAY OVER THE CHOSEN PERIOD 2 – 3.5 YEARSIN EQUAL MONTHLY PAYMENTS




WHAT YOUNEED TOKNOW


CUSTOMER BENEFITS3 Fixed low repayments – easier

budgeting.3 GFV protection – protection from

falls in used vehicle values under the Goods Return option (if you hand the vehicle back).

3 Flexible terms – variable deposits, periods and mileage available.


CUSTOMER RISKS3 Ownership – you do not own the

vehicle until the final payment is made.

3 Deferred payment – a significant proportion of the credit is deferred until the end of the agreement, you should prepare for this if you want to own the vehicle.

3 Repossession – your vehicle is at risk of repossession if you do not maintain the contractual payments.

3 Insurance – you must have fully comprehensive cover.


Lease Purchase is similar to a Personal Contract Purchase (PCP) - you can keep your monthly payments lower, by deferring a significant proportion of the amount of credit to the final payment at the end of the agreement, but do not have the option to return the vehicle to Shogun Financial Services at the end of the agreement.

Agree an initial deposit and agreement term, your dealer will then calculate your final payment and confirm your monthly payment and submit an application to us. Subject to your application being approved, you can just drive your vehicle away.

Your options at the end of the agreement:1) Part exchange your vehicle for a new one via your Mitsubishi dealer,

subject to settlement of your existing finance agreement, new finance agreements are subject to status.

2) Pay the final lump sum payment to own the vehicle.

Lease Purchase is often used by customers and limited companies who don’t want to be bound by mileage restrictions. Lease purchase is only available to limited companies on a non regulated basis. Please see the glossary for an explanation of regulated and non regulated agreements.

LEASE PURCHASE

LEASE PURCHASE


LEASE PURCHASE

HOW IT WORKS

LEASE PURCHASE


new or used vehicles.3 Set payments to suit your budget.3 Repay over 2 – 4 years.3 Flexible Deposit Options - 0%

deposit may be available subject to status.

3 Vehicles up to 7 years old at the end of the agreement.


LEASE PURCHASE

WHAT YOU WILLPAY

AT THE END OF YOUR CHOSEN PERIODYOU HAVE 2 OPTIONS:

Part exchange* for a new model

Own the vehicle by paying the final lump sum payment*


1

2

BALANCE (plus fixed interest)PAY OVER THE CHOSEN PERIOD 2 TO 4 YEARS IN EQUAL MONTHLY PAYMENTS

*Subject to settlement of your existing finance agreement, new finance agreements are subject to status.

LEASE PURCHASE


LEASE PURCHASE

WHAT YOUNEED TOKNOW

LEASE PURCHASE

CUSTOMER BENEFITS3 Fixed regular payments – easier

budgeting.3 Flexibility – No mileage clauses.3 Deferred payment – lower payments

mean you might be able to afford a newer vehicle.

3 Ownership – you own the vehicle outright at the end of the agreement.

3 Flexible terms – variable deposits and periods available.


CUSTOMER RISKS3 Ownership - you do not own the

vehicle until the final payment including interest has been made.

3 Deferred payment - a significant proportion of the credit is deferred until the end of the contract you should prepare for this.

3 Repossession - your vehicle is at risk of repossession if you do not maintain contractual repayments.

3 Insurance – you must have fully comprehensive cover.

Contract Hire is a fixed-cost, rental agreement. You choose a new vehicle, agree the maximum annual mileage and length of agreement, and then pay an initial rental followed by fixed monthly rentals to suit your budget. You can even choose to cover vehicle maintenance costs as part of your agreement subject to paying a maintenance charge which is added to your monthly rental.

CONTRACT HIRE FOR BUSINESS CUSTOMERS


VEHICLELEASINGSHOGUN


HOW IT WORKS


3 Choose your new vehicle.3 Flexible initial rentals.3 Set payment to suit your budget.3 Hassle free at the end of the

contract, simply hand the vehicle back and start again. Subject to vehicle condition and mileage.

3 Agreed annual mileage. If you drive less than the agreed

annual mileage this will not alter the monthly rentals. If you exceed the agreed annual mileage, excess mileage charges will apply.

3 Contract term 2 – 5 years.3 You can change your contract

duration and mileage (except during the first or last 6 months of the contract). Your monthly rental will be amended accordingly.

3 Maximum contract mileages 120,000 (petrol cars) 150,000 (diesel/hybrid cars) 180,000 (diesel LCV’s)3 Minimum contact annual mileage:

5,000 per annum (you can drive less than 5,000 miles per annum, however this will not alter the monthly rentals). Maximum contract annual mileage 50,000.

3 At the end of the contract, you must return the vehicle. You will have nothing further to pay provided the vehicle is in good condition and has not exceeded the agreed mileage. If the vehicle does not meet the mileage and condition terms, excess charges may apply.

3 VAT registered businesses can re-claim a proportion of the VAT element on rental and maintenance payments.


CONTRACT HIRE FOR BUSINESS CUSTOMERS AT THE END OF THE CONTRACT

RETURN THE VEHICLE*FLEXIBLEADVANCEDRENTAL

FIXED REGULAR RENTALSOVER 2-5 YEARS


WHAT YOU WILL PAY

*The vehicle should be returned to us in a condition that meets the BVRLA ‘Fair wear and tear’ guidelines, otherwise charges may be incurred. Fair wear and tear guidelines can be found on the BVRLA website at www.bvrla.co.uk.



WHAT YOUNEED TOKNOW


CUSTOMER BENEFITS3 Fixed low rentals - to suit your

budget and cash flow requirements.3 Zero depreciation risk - no disposal

worries simply return the vehicle at the end of the contract. Excess charges will apply if the vehicle is returned outside of the condition and mileage terms.

3 Tax efficient – rentals allowable against tax.

3 VAT reclaimable – VAT registered businesses can re-claim 50% to 100% of the VAT element on rental and 100% on the maintenance payments.

3 Road Tax included – renewed annually.

3 Flexible terms – choice of advance rental, contract period and mileage available.

3 Maintenance – optional maintenance package, subject to a charge.

CUSTOMER RISKS3 Ownership – you cannot buy the

vehicle at the end of the contract.3 Maintenance - you must maintain

the vehicle in accordance with the contract conditions, even if you have not chosen the optional maintenance package.

3 Repossession - failure to maintain contractual payments may result in legal action.

3 Insurance – you must have fully comprehensive insurance.

3 Termination – you can terminate the contract early by paying 50% of the remaining rental cost.


Personal Contract hire is a fixed-cost, rental agreement. You choose a new vehicle, agree the maximum annual mileage and length of agreement, and then pay an initial rental followed by fixed monthly rentals to suit your budget. You can even choose to cover vehicle maintenance costs as part of your agreement subject to paying a maintenance charge which is added to your monthly rental.

PERSONAL CONTRACT HIRE




HOW IT WORKS

3 Choose your new vehicle.3 Flexible initial rentals.3 Set payment to suit your budget.3 Hassle free at the end of the

contract, simply hand the vehicle back and start again. Subject to vehicle condition and mileage.

3 Agreed annual mileage. If you drive less than the agreed

annual mileage this will not alter the monthly rentals. If you exceed the agreed annual mileage, excess mileage charges will apply.

3 Contract term 2 – 5 years.3 You can change your contract

duration and mileage (except during the first or last 6 months of the contract). Your monthly rental will be amended accordingly.

3 Maximum contract mileages 120,000 (petrol cars) 150,000 (diesel/hybrid cars) 180,000 (diesel LCV’s)3 You are not entitled to any of the

sale proceeds following vehicle disposal at the end of the contract.

3 Minimum contact annual mileage: 5,000 per annum (you can drive less than 5,000 miles per annum, however this will not alter the monthly rentals). Maximum contract annual mileage 50,000.

3 At the end of the contract, you must return the vehicle. You will have nothing further to pay provided the vehicle is in good condition and has not exceeded the agreed mileage. If the vehicle does not meet the mileage and condition terms, excess charges may apply.



PERSONAL CONTRACT HIREAT THE END OF THE CONTRACT

RETURN THE VEHICLE*FLEXIBLEADVANCEDRENTAL

FIXED REGULAR RENTALSOVER 2-5 YEARSWHAT

YOU WILLPAY





WHAT YOUNEED TOKNOW

CUSTOMER BENEFITS3 Fixed low rentals - to suit your

budget.3 Zero depreciation risk - no disposal

worries simply return the vehicle at the end of the contract. Excess charges will apply if the vehicle is returned outside of the condition and mileage terms.

3 Road Tax included – renewed annually.

3 Flexible terms – choice of advance rental, contract period and mileage available.

3 Maintenance – optional maintenance package, subject to a charge.

CUSTOMER RISKS3 Ownership – you cannot buy the

vehicle at the end of the contract.3 Maintenance - you must maintain

the vehicle in accordance with the contract conditions, even if you have not chosen the optional maintenance package.

3 Repossession - failure to maintain contractual payments may result in legal action.

3 Insurance – you must have fully comprehensive insurance.

3 Termination – you can terminate the contract early by paying 50% of the remaining rental cost.



In the event that your vehicle has been written off as a total loss due to an accident, fire, theft or adverse weather condition incident, as long as you contact the Guaranteed Asset Protection claims team, this policy could pay out the difference between your motor insurer‘s settlement figure and the original purchase price of your vehicle (or finance settlement amount if applicable – whichever is the higher claim amount).

According to the Association of British Insurers, over 500,000 vehicles are written off every year. That’s almost one every minute of every day! Write offs are most typically caused by road traffic accidents and professional theft. Professional theft is a high tech operation and the perpetrators have the means and methods to overcome almost all types and levels of security.

GAP Insurance is an important consideration when changing your vehicle and one that should not be based on price alone.

THE SMART WAY TO PROTECT YOUR VEHICLE

GUARANTEEDASSET PROTECTION

SpitalgateDealerServices Ltd

GUARANTEED ASSET PROTECTION

HOW IT WORKS

3 Broad eligibility if the vehicle is 10 years old or under and has covered less than 100,000 miles at the start date of the policy.

3 Provided comprehensive motor insurance is in place for the vehicle throughout the period of insurance.

3 Available to a private individual or sole trader aged 18 or over and who is resident in the UK.

3 Available to partnerships, limited companies or other legal entities, situated, and registered in the UK.

£15,000

£13,500

£9,000

£6,000

£0

Guaranteed Asset Protection could pay

out £1,500


out £6,000


out £9,000

Your Motor Insurercould pay out £13,500


Your Motor Insurer could pay out £6,000

1st Year 2nd Year 3rd Year

Original Purchase Price of the

vehicle: £15,000

Guaranteed Asset Protection

benefit

Market Value ofyour vehicle

Motor Insurer’ssettlement

YOUR VEHICLE IS NOT SUBJECT TO A FINANCE AGREEMENT

£15,000

£13,500

£9,000

£6,000

£0

£16,000


out £2,500


out £6,000


out £9,000



Your Motor Insurer could pay out £6,000

1st Year 2nd Year 3rd Year

Original Purchase Price of the

vehicle: £15,000

Guaranteed Asset Protection

benefit

Finance settlement

Market Value ofyour vehicle

Motor Insurer’ssettlement

YOUR VEHICLE IS SUBJECT TO A FINANCE AGREEMENT AND THE FINANCE EARLY SETTLEMENT AMOUNT AT THE TIME OF WRITE-OFF IS £16,000

GAP Insurance is an optional insurance to supplement your normal motor insurance. It covers financial risks that your motor insurer will not cover when a write off occurs. The risks can be substantial for example, if a vehicle costing £15,000 was written off within 12 months, most motor insurance companies would pay out the current market value, which might be only £13,500. If you wanted to then replace your vehicle with one of similar value, you would have to find the difference.


GUARANTEED ASSET PROTECTION

WHAT YOUNEED TOKNOW

CUSTOMER BENEFITS3 Cover benefits both cash and finance

buyers.3 New and used vehicles.3 Policy pays the difference between

your motor insurers agreed write off settlement and the original purchase price.

3 Cover periods available up to 48 months.3 Unlimited maximum benefit on vehicles

up to £50,000 purchase price.3 30 day Cooling-Off period if the policy

does not meet your needs with a full refund.

3 You can cancel the policy at any time (after 30 days) and receive a pro rata refund.

3 Cover includes manufacturer and dealer fitted accessories.

3 Motor Insurance excess covered up to £250.

3 Full premium rebate if the vehicle is written off and there is no insurance shortfall.

CUSTOMER RISKS3 You must have a fully comprehensive

motor insurance policy in place throughout the GAP policy term to benefit.

3 Policy is non-transferable.3 Your vehicle must be listed in Glass’s

Guide.3 The policy must be purchased within

100 days of the vehicle purchase.3 There are significant policy

exclusions, a list is available from your dealer.

3 When making a claim, you should always contact the administrator before accepting the insurance settlement offer.



LEASINGSHOGUN

HIRE PURCHASE


FLEXIBLE DEPOSIT OPTIONS – 0% MAY BE AVAILABLE SUBJECT TO STATUS

BALANCE (PLUS FIXED INTEREST)PAY OVER THE CHOSEN PERIOD 2 – 3.5 YEARSIN EQUAL MONTHLY PAYMENTS

AT THE END OF YOUR CHOSEN PERIOD YOU HAVE 3 OPTIONS:1 RENEW - PART EXCHANGE IT FOR A

NEW MODEL*2 RETAIN - PAY THE FINAL LUMP

SUM TO OWN THE VEHICLE 3 RETURN - RETURN THE VEHICLE TO

SHOGUN FINANCIAL SERVICES (UNDER THE GOODS RETURN

OPTION)**


BALANCE (PLUS FIXED INTEREST)PAY OVER THE CHOSEN PERIOD 1 – 5 YEARS IN EQUAL MONTHLY PAYMENTS

AFTER ALL THE PAYMENTSHAVE BEEN MADE, YOU OWN THE VEHICLE

* Subject to settlement of your existing finance agreement, new finance agreements are subject to status.

** If the vehicle is in good condition and has not exceeded the agreed maximum mileage, you will have nothing further to pay. If the vehicle has exceeded the agreed maximum mileage, a charge for excess mileage will apply. Further information on what is considered good condition can be found at www.mitsubishi-cars.co.uk/goodconditionguide.

PERSONAL CONTRACT HIRECONTRACT HIRE FOR BUSINESS CUSTOMERS


BALANCE (PLUS FIXED INTEREST)PAY OVER THE CHOSEN PERIOD 2 TO 4 YEARS IN EQUAL MONTHLY PAYMENTS

*Subject to settlement of your existing finance agreement, new finance agreements are subject to status.

LEASE PURCHASE

FLEXIBLEADVANCEDRENTAL



AT THE END OF THE CONTRACTRETURN THE VEHICLE*

FLEXIBLEADVANCEDRENTAL


AT THE END OF THE CONTRACTRETURN THE VEHICLE*

AT THE END OF YOUR CHOSEN PERIODYOU HAVE 2 OPTIONS:1 PART EXCHANGE* FOR A NEWER

MODEL2 OWN THE VEHICLE BY PAYING THE

FINAL LUMP SUM PAYMENT*



AT THE START OF THE AGREEMENT• You can borrow from £1,000.

• Flexible deposit options - 0% deposit may be available subject to status.

DURING THE AGREEMENT• You can change your payment date during the first 30 days of your agreement free of charge, a loss of interest charge is payable after the first 30 days.

• You will have fixed monthly payments with a fixed interest rate for the term of your agreement.

• You can make additional lump sum payments to reduce your balance or settle your agreement at any time. We will provide you with a settlement quotation on request.

• You can part exchange your vehicle at any time, subject to settling the outstanding finance. New finance agreements are subject to status.

• You must ensure that you have fully comprehensive insurance cover in place for the vehicle. If the vehicle is written off or stolen and the amount that the insurance company pays us is not enough to settle your agreement, you will be liable for the shortfall.

• If the goods are not of satisfactory quality, you will have rights against Shogun Financial Services.

• You have the option to terminate your agreement and return the vehicle to us, subject to paying half the total amount payable under the agreement.

• Your vehicle is at risk of repossession if you do not maintain your payments.

AT THE END OF THE AGREEMENT• Shogun Financial Services will retain ownership of the vehicle until all the payments including the final payment have been made.

COMMON FEATURES OF OUR HIRE PURCHASE, PERSONAL CONTRACT PURCHASE (PCP) AND LEASE PURCHASE PRODUCTS:


DIFFERENCE BETWEEN OUR HIRE PURCHASE, PERSONAL CONTRACT PURCHASE (PCP) AND LEASE PURCHASE PRODUCTS:

KEY CUSTOMER INFORMATION HIRE PURCHASE PERSONAL CONTRACT PURCHASE (PCP) LEASE PURCHASE

How long can I take the finance over? From 1 – 5 years. From 2 – 3.5 years. From 2 – 4 Years.

Maximum age of vehicle at the end of the agreement 14 years* 8 years 7 years

Are there any mileage restrictions? No.

Yes.

You agree your mileage at the outset. If you exceed this and wish to return the vehicle at the end

of the agreement, additional charges will apply.

No.

What happens at the end of the agreement? You will own the vehicle.

You can pay the final lump sum payment and own the vehicle.

OR

You can exercise the goods return option and return the vehicle to Shogun Financial Services. NB. If the vehicle has exceeded the allowed mileage a charge for excess mileage

will apply.

You pay the final lump sum payment and own the vehicle.

Do I have any protection against depreciation as a result of an unexpected fall in the vehicle’s value? No.

Yes.

You can return the vehicle at the end of the contract instead of paying the final lump sum payment regardless

of the vehicle’s value. If you have not kept the vehicle in good condition or exceeded the agreed mileage,

excess charges will apply. Further information on what is considered good condition can be found at

www.mitsubishi-cars.co.uk/goodconditionguide.

No.

Do I have to pay a lump sum at the end of the agreement? No.

Yes.

A substantial proportion of the amount payable is deferred to the end of the agreement. Prepare for this.

Yes.

A substantial proportion of the amount payable is deferred to the end of the agreement. Prepare for this.

*Some exceptions apply.

COMMON FEATURES OF OUR PERSONAL CONTRACT HIRE AND BUSINESS CONTRACT HIRE PRODUCTS

• Flexible advance rental to suit your budget (the higher the advance rentals the lower the monthly rental you will pay). • The advance rentals are not refundable.• You can choose an agreement length to suit you from 2 – 5 years.• There are mileage restrictions in place.• The mileage and the length of the contract is agreed up front, however you can change both the length of the contract and the mileage outside

the first and last six months of the agreement. • You can purchase an optional maintenance package.• You must ensure that you have fully comprehensive insurance cover in place for the vehicle. If the vehicle is written off or stolen and the amount

that the insurance company pays us is not enough to settle your agreement, you will be liable for the shortfall.• You must maintain the vehicle in line with manufacturer guidelines and may be charged for repairs if the vehicle is returned with more than

normal wear and tear.• You can terminate the agreement early, by returning the vehicle and paying 50% of the remaining rentals. • You will be subject to an excess mileage charge at the end of contract if the mileage exceeds the agreed allowance in the contract.• You must return the vehicle at the end of the contract, you do not have the option to purchase the vehicle at the end of the agreement.• If the goods are not of satisfactory quality, you will have rights against Shogun Vehicle Leasing.

DIFFERENCES BETWEEN OUR PERSONAL CONTRACT HIRE AND BUSINESS CONTRACT HIRE PRODUCTS

• There are tax benefits available with our Business Contract Hire product that are not available on our Personal Contract hire product, with our Business Contract Hire product a proportion of the VAT can be claimed on the rentals.



LEASINGSHOGUN

AGREEMENT TERM The length of time over which you agree to repay the finance – also referred to as the Length of Agreement.

ANNUAL PERCENTAGE RATE (APR) The APR shows the annual cost of a finance agreement over and above the amount you have borrowed. The APR will include interest rate charges and any other fees included in the agreement, such as administrative fees. By law, the APR must be shown on relevant documentation presented to customers in showrooms. You can use the APR to compare the cost of different finance products.

BALLOON PAYMENT/FINAL LUMP SUM A balloon payment is the lump sum deferred to the end of a finance agreement on Personal Contract Purchase and Lease Purchase agreements. Making this payment completes the finance agreement and allows you to take ownership of the vehicle.

CONTRACT HIRE ‘Rental’ agreements where you cannot become the legal owner of the vehicle as you are merely renting it from Shogun Vehicle Leasing. SVL as the owner is listed as the Registered Keeper on the DVLA V5 form. A flexible option allowing you to drive a newer model and optional vehicle maintenance packages can be included.

CREDIT AGREEMENT A credit agreement is a legally-binding contract between you (the customer) and the finance company. It must include details of the loan amount, the term, rates of interest, other charges and your rights and responsibilities for the duration of the agreement. You will receive a copy of the agreement you have entered into.

DEPOSIT A deposit is often required to secure and finance your vehicle. The larger the deposit the less you will need to borrow and this could mean lower monthly payments. A deposit could be cash or part exchange or a combination of both.

If you are part exchanging your vehicle and you still have outstanding finance then your deposit will be the part exchange value of your vehicle less the outstanding settlement figure. Your dealer should be able to take care of these arrangements for you.

DEPRECIATION A vehicle is an asset, but inevitably with age and wear and tear it will reduce in value. This is depreciation.

EARLY SETTLEMENT This is when you pay off a finance agreement before the agreed term is completed. By doing so you may save on the interest that would have been charged for the remainder of the agreement.

GUARANTEED ASSET PROTECTION Insurance protection if your vehicle is written off and a settlement offer is made by your motor insurer (or 3rd party through an accident management company), Car Care Plan Ltd will pay you the difference between the amount paid out by your motor insurer (or 3rd party through an accident management company) and the original purchase price you paid for your vehicle subject to the terms and conditions contained within the policy.

GUARANTEED FUTURE VALUE A Guaranteed Future Value is equivalent to the deferred balloon payment and is set based on the estimated value of the vehicle at the end of the agreement. This value assumes that when returned the vehicle is within the set agreed maximum mileage and in good condition.* The GFV is deferred to the end of the agreement and, along with any purchase fee applicable, is the Final Payment. The risk of depreciation above the level of the GFV is taken by Shogun Financial Services, so the customer can hand the vehicle back with nothing further to pay at the end of the agreement.

*If the vehicle is in good condition and has not exceeded the agreed maximum mileage, you will have nothing further to pay. If the vehicle has exceeded the agreed maximum mileage, a charge for excess mileage will apply. Further information on what is considered good condition can be found at www.mitsubishi-cars.co.uk/goodconditionguide.

HIRE PURCHASE (HP) Shogun Financial Services buys the vehicle on your behalf less any deposit that you have paid to the dealer. The amount paid by Shogun Financial Services plus interest is then paid by you over agreed period of one to five years.

INITIAL RENTAL An initial rental is similar to a deposit. The larger the initial rental the lower the monthly rentals. The initial rental is a cash payment.

LEASE PURCHASE Lease Purchase is essentially the same as a standard Hire Purchase agreement, but with a large lump sum which is deferred until the end of the agreement. Unlike PCP, there’s no Guaranteed Future Value (GFV) and you do not have the option to return the vehicle to Shogun Financial Services at the end of the agreement, other than any voluntary termination rights that you may have under the agreement. You agree the final payment at the start of the agreement, so you can budget more easily. At the end of the agreement you have two options, make the final payment and obtain ownership of the vehicle or Part exchange for a new vehicle (if the part exchange does not cover the final payment you would need to pay the shortfall to settle the finance agreement). New finance agreements are subject to status.

MAINTENANCE CONTRACTS An optional, chargeable product offered by finance companies and dealers to spread the cost of motoring. Maintenance contracts usually include vehicle servicing and repairs, as well as replacement of wear and tear items such as tyres.

NON REGULATED AGREEMENTA credit agreement not regulated by the Consumer Credit Act. Therefore not bound by the same legal requirements as a regulated agreement nor offering the same type or level of protection.

OPTION TO PURCHASE FEEA voluntary payment at the end of some finance agreements (such as hire purchase) which, if paid, transfers ownership of the vehicle from the finance company to the customer.

PART EXCHANGE Part-exchange involves trading in your existing vehicle and using its value as part payment for your new vehicle, perhaps to help fund a deposit under a finance agreement.

PERSONAL CONTRACT HIRE ‘Rental’ agreements for consumers where you cannot become the legal owner of the vehicle as you are merely renting it from Shogun Vehicle Leasing. SVL as the owner is listed as the Registered Keeper on the DVLA V5 form. A flexible option allowing you to drive a newer model and optional vehicle maintenance packages can be included.

PERSONAL CONTRACT PURCHASE (PCP) PCP is essentially, the same as a standard Hire Purchase agreement, but with a significant proportion of the amount of credit deferred until the end of the agreement. Unlike Lease Purchase, the value of the vehicle at the end of the contract is guaranteed to at least equal that of the deferred final payment if the customer exercises the Goods Return Option. Under PCP, the customer has the following options at the end of the agreement

1) Return the vehicle and not pay the Final Payment. If the vehicle is in good condition and has not exceeded the agreed maximum mileage you will have nothing further to pay. If the vehicle has exceeded the agreed maximum mileage a charge for excess mileage will apply. Further information on what is considered good condition can be found at www.mitsubishi-cars.co.uk/goodconditionguide.

2) Pay the Final Payment to own the vehicle or

3) Part exchange the vehicle subject to settlement of your existing finance agreement; new finance agreements are subject to status.

REGULATED AGREEMENTSMost types of credit and hire agreements are covered by the Consumer Credit Act, which gives you some important rights, such as your right to cancel the agreement within a given time and protection against both the lender and the seller for faulty goods. An agreement covered by the Act is called a regulated agreement.

An agreement will be regulated if:

• The borrower is an individual borrowing for mainly personal use rather than business use

• It is not an exempt agreement – exempt agreements include things like gas and electricity agreements and loans from employers, these agreements are not regulated by the CCA.

If your agreement is regulated under the Consumer Credit Act, we will provide you with the information before, during, and after the agreement is taken out and give you a written copy of the agreement..

SATISFACTORY QUALITY By law, goods sold must be of satisfactory quality and fit for the purpose for which they were intended. Where there is a credit agreement in place, the finance company has a responsibility for the quality of the goods and to resolve any disputes where the goods are not of the required standard.

VOLUNTARY TERMINATIONYou have a right to end the agreement by giving us written notice. If you do so, you must immediately return the goods to us, which includes making the payments detailed in the ‘Termination Your Rights’ section on your credit agreement.

GLOSSARY & USEFUL INFORMATION

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