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Should you have a Fully Maintained Finance Agreement?

By Bradley Thurgood
05-02-2024
Should you have a Fully Maintained Finance Agreement?

When contemplating the expenses associated with acquiring or leasing a new vehicle, many of us tend to focus on the initial costs without adequately considering the expenses involved in maintaining the vehicle over the subsequent 3 or 4 years.

The impacts of escalating costs over the past year, such as increasing mortgage rates, energy bills, and rising food prices, have affected us all.

Consider a car service currently priced at £300 – how much do you anticipate it will cost in three years? And what about a set of tyres presently priced at £1,000? The effects of inflation on these costs can be significant.

This is where a Fully Maintained Finance Agreement proves advantageous. The cost is fixed from Day 1, and any subsequent price hikes become, essentially, not your concern.


What's Included?

• All scheduled servicing and routine maintenance to preserve the warranty and ensure the vehicle's safe operation

• All mechanical repairs or replacements, encompassing unforeseen costs like a new clutch or gearbox

• All electrical repairs or replacements

• Tyre replacements for anything except damage due to driver misuse (covering normal wear, punctures, and blow-outs)

• Replacement tyre repair canisters for cars lacking a spare wheel

• Replacement of items failing due to normal wear and tear, including bulbs, batteries, brakes, exhausts, wiper blades, and more

• MOT tests (applicable from three years onwards)


What's Not Included:

• Repair or replacement of parts due to driver error, damage, or negligence (including misfuelling)

• Tyres damaged due to misuse

• Repairs due to accidents (whether at fault or not), impacts, vandalism, theft, or misuse

• Missing or broken items (such as badges or wheel trims)

• Vandalised or stolen wheels, tyres, or mechanical parts

• Lubricants, AdBlue, or fluid top-ups between service intervals

• Vehicle glass

• Adding or removing artwork or lettering

• Washing, frost damage, valeting, or waxing

• Some limitations apply to European breakdown cover


Additionally, Roadside Assistance can be included, featuring:

• Roadside repair whenever possible, with around nine in ten cases fixed on-site (source: AA data, 08/20)

• Recovery of the vehicle to an onward destination

• Free-of-charge replacement vehicle for 24 hours

• Home breakdown assistance

• European roadside repair, recovery, and repatriation*

• Onward travel, including 24-hour car hire.

• Foreign travel documentation service (subject to a document fee)


In essence, a fully maintained agreement not only provides peace of mind by eliminating the worry of unexpected bills but also facilitates more efficient budgeting. It ensures fixed-cost motoring at today's prices throughout the contract's duration. Undoubtedly, this represents a significant advantage.