With the majority of new cars in the UK being bought on finance, luxurious, well-equipped models have never been within easier reach for buyers.
While there are a few financing options out there including hire purchase and leasing, most buyers tend to opt for a Personal Contract Purchase (PCP) deal that sees them put down a deposit and pay a reduced monthly rate over of the contract term (usually 36 or 48 months) that is calculated to cover the cost of the vehicle’s depreciation (loss in value), rather than the full amount.
At the end of the contract buyers can choose to purchase their car outright, hand it back to the dealer or switch to a newer car on another PCP deal.
This level of flexibility makes PCP the most popular financing option for UK car buyers, and with manageable monthly payments buyers may find themselves behind the wheel of an unexpectedly high-end motor for less financial outlay than they thought.
“Executive” cars (usually saloons) are a popular choice for buyers on PCP deals as they wrap up badge cachet, a reasonable amount of space and loads of the latest gadgets in an appealing and comfortable package.
Buyers have plenty of options in this category and, although the premium German marques attract the bulk of executive car sales, there are still a few left-of-field contenders out there giving buyers a choice of petrol, diesel, hybrid or pure-electric models.
For company car drivers, there are other cars to consider: check out our five best company cars to order in 2023 here.
Our pick of new car deals (February 2023)
BMW 5 Series
Arguably the default choice in the executive saloon category, the BMW 5 Series blends sharp looks with an even sharper feel behind the wheel, and features a well-equipped (and nicely finished) interior with a 12.3in infotainment touchscreen and the option of a head-up display.
With diesel sales in sharp decline, the 520d model may not seem like the most attractive option compared to petrol or plug-in hybrid models, but, with its 2-litre 190bhp turbocharged engine returning an economy figure in the high fifties, it’s an efficient car, especially for those covering lots of motorway miles.
The deal we found
- Version: 520d M Sport
- On the road price: £48,205
- Monthly payment: £559
- APR: 4.9%
- Deposit: £4,595.73
- Term: 48 months
- Annual mileage: 10,000 miles
Audi A6
With a replacement for the Audi A6 due to launch later this year, there are good deals to be had on the current model right now, with the details of one such offer from Audi that caught our eye.
The A6’s interior could be considered a little conservative but it is really nicely screwed together. The way it drives is sharp though it falls a little short of the engagement and poise offered by the 5 Series, striking a decent compromise between the dynamics of the BMW and the comfort of the Mercedes E-Class.
With 201bhp on tap, performance in the 2-litre petrol Sport 40 TFSI model is brisk enough, and it returns just under 40mpg, which can’t match the economy and pulling-power of the more expensive diesel engines but is still decent for a petrol.
The deal we found
- Version: A6 Sport 40 TFSI
- On the road price: £41,590
- Monthly payment: £499
- APR: 6.9%
- Deposit: £4,917.27 (£3,250 Audi deposit contribution)
- Term: 48 months
- Annual mileage: 10,000 miles
- Guaranteed Future Value: £16,719
Our pick of used car deals (February 2023)
Mercedes E-Class
A sum of £500-600 per month will easily get buyers behind the wheel of a 2020 Mercedes E-Class, with cars of that age still providing the reassurance of the German firm’s three-year warranty.
As with the BMW 5 Series, the 2-litre diesel versions of the E-Class provide fuel economy figures in excess of 55mpg meaning that, in addition to punchy diesel torque, it’s relatively cheap to run for a big saloon, especially for drivers regularly pounding the UK’s motorways.
The interior is first-class, with nice use of materials and plenty of kit, and the ride comfort is class-leading.
The deal we found
- Version: E 220 d AMG Line (2020 – 70 reg)
- On the road price: £33,000
- Monthly payment: £556
- APR: 7.9%
- Deposit: £4,000
- Term: 36 months
- Guaranteed future value: £11,000-16,000
Lexus ES
The Lexus ES has more than a whiff of the golf club about it but it’s a fine car. Powered by a 2.5-litre petrol-electric full hybrid system, the Lexus ES returns strong fuel economy and an especially refined driving experience with build-quality and reliability that’s practically unparalleled.
Buying one, however, prompts a big question: new or used? On one hand, buyers can get behind the wheel of a brand-new ES 300h for £600 per month, though that’s after handing over a fairly hefty £8,150 deposit.
A used model potentially offers much better value, with deals on 2020 (70 reg) models from little more than £450 per month, which seems especially attractive when that stellar reputation for reliability is factored in.
The deal we found
- Version: ES 300h (2020 – 70 reg)
- On the road price: from £29,000
- Monthly payment: from £470
- APR: 8.4%
- Deposit: £4,000
- Term: 36 months
- Guaranteed future value: £14,000 – £16,500
Polestar 2
Polestar used to be a division of Volvo but has now firmly established itself in the UK market as a standalone maker of premium electric cars, with big plans for an expanded model line.
The Tesla Model 3-rivalling Polestar 2 is the car that broke the firm into the mainstream, and while new examples run a little beyond the £600 per month mark, buyers can get themselves into a well-specced 2020 or 2021 example for not much more than a £500 monthly outlay.
At that price, buyers can reasonably aim for a 78kWh Long Range model with 402bhp and the Pilot Plus driver assistance package and potentially even a dual-motor all-wheel-drive version.
It’s also the first car ever to feature a built-in Android Automotive infotainment system, which means it can be synced with your Google account and apps such as Waze and Audible can run without connecting your phone. Apple iPhone users don’t worry — you can still connect your handset via Bluetooth.
The deal we found
- Version: 78kWh Long Range (2020 – 70 reg)
- On the road price: £37,999
- Monthly payment: £511
- APR: 8.4%
- Deposit: £4,000
- Term: 48 months
- Guaranteed future value: £18,000-21,000
