Luxury sports car brand Aston Martin will guarantee customer future resale values between 50 and 55 percent for lease schemes of up to two and three years old, according to MENA chief executive Christopher Sheppard.
The schemes are part of the car manufacturer’s financial services, which were launched in Dubai four months ago in order to provide customers with more affordable costs of ownership.
The services will roll out in Abu Dhabi in the first quarter of 2018, in line with the brand’s new showroom in the capital. Following the Abu Dhabi opening, the services will be extended to the remainder of the GCC.
Speaking to Arabian Business at the Dubai Motor Show, Sheppard said customers in the region are looking for new ways of funding the car, as well as ways of trading it at a value they’re comfortable with at the end of using the car, in order to invest in a new one.
“This is where the beauty of a finance package helps the customer, because if they’re buying on a lease, there is a guaranteed buyback from the retailer for that lease. So, at the point of entering into that agreement, the customer is aware exactly what they’re going to get back for that car in two or three years’ time,” said the chief executive.
“I think that breeds confidence and through that confidence, hopefully, it builds a renewal process, because the customer has enjoyed the first car; maybe wants a change of colour, change a model, but they know exactly what their trading value is going to be; and they go and finance another one on exactly the same scheme,” he said.
Sheppard added that the finance plans will help new customers enter the brand.
The Aston Martin services will comprise tailor-made finance packages to suit clients’ needs and requirements.
In April this year, luxury sports car house Ferrari told Arabian Business the resale value of its vehicles is approximately 75% to 90% of their original sticker price, depending on the model and market. Both the Ferrari 812 Superfast and the Aston Martin Vanquish have V12 engines and a similar top speed of 340km/h and 324km/h.
Aston Martin debuted its Valkyrie hypercar and V8 powered DB11 for the first time in the region at the Dubai Motor Show, taking place until Saturday November 18 at the Dubai World Trade Centre.
It is set to launch its new vehicle, the V8 Vantage, in the UK on November 21.For all the latest car news & reviews from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.