Dr Alex George - A&E doctor & reality TV star

Case study – Dr Alex George

Why Alex chose Magnitude Finance

Alex is a lifelong car fanatic and after leaving Love Island he decided to buy a Mercedes C63 AMG which he financed through Magnitude. But not long after Alex’s head was turned by a stunning Riviera blue Audi R8 V10 Plus.

Demonstrating proof of income is never straightforward for those working in media (even when you are a doctor) – but working closely with Alex Baldwin of Magnitude, Alex chose a regulated hire purchase agreement with a final balloon payment for his R8 in the knowledge that he might want to change the car before the end of the agreement. This plan was chosen so Alex remains in a positive equity position and doesn’t have to pay early settlement penalty fees when he decides to change his car – again.

The Audi R8 V10 Plus he chose came from DMB Collection. Scroll down to watch the collection video.

@dralexgeorge

@alex_baldwin91

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Finance Types

Hire Purchase

Under a Hire Purchase agreement, you usually pay a deposit at the start of the agreement. You then pay the rest of the value of the car in instalments, over a period of between 3 and 5 years.

Balanced Payment Plan

A Balanced Payment Plan offers the benefits of a fixed monthly payment, however tracks the changes in the finance house base rate, LIBOR or bank base, depending on the agreement.

Personal Contract Purchase

PCP is a popular way of financing a vehicle and is usually based upon a Hire Purchase agreement. The main difference is that the vehicle’s value at the end of the agreement is calculated at the start.

Specialist Facilities

We have access to a number of specialist lenders that will look at high value vehicles over £1 million, classic and exotic cars, refinancing existing deals, equity release or even assets other than vehicles.

Representative example - Hire Purchase with Balloon.
AUDI R8 FINANCE EXAMPLE

Representative example - Hire Purchase with Balloon.

£88,995

Deposit £9,000
Amount of credit £79,995.00
Total amount payable £108,923.12
Final instalment/ balloon £59,470
Duration of agreement 49 months
Regular monthly instalment £840.44
Representative APR 6.9%
Type of interest Fixed

*This Audi R8 finance example is for illustration purposes only and does not represent the figures paid by the client. Please contact our finance team for a tailored quotation.

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How it works
1

Call us and get a tailored quote on your chosen car (or apply online).

2

When you are happy, we’ll create and submit your application to your chosen lender.

3

Once approved, pay a deposit to the dealer and sign & return the finance documents to us.

4

We pay the dealer - you pick up your new car!

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Magnitude offer finance for all prestige and performance cars over £25,000. We work closely with our customers to find the optimum finance package.

Why choose Magnitude?

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Our experience is unrivalled

With over 30 years in business building strong relationships with consumers, dealers and manufacturers, no other prestige car finance specialist can match our experience.

As part of DSG Financial Services we have been able to negotiate the very best terms from our lenders on behalf of our customers, so you can expect lower rates than most of our competitors are able to offer – just try us and see.

Our commitment

Magnitude work in your best interests – not those of manufacturers or dealers – to always offer the best overall package for you.

Testimonials

Our concierge team loves helping our customers finance their dream car. Get in touch with them to see how we can do the same for you.