The British sports car maker will now offer finance packages on self-assembly Caterham Seven models
For the first time in the company’s history, Caterham will offer finance packages on its self-build Seven kits. Previously, finance deals were only available on the new factory built cars, as well as the approved used examples.
The entry-level Seven 160 is the cheapest model, although the finance deals extend to the more powerful 270, 360 and 420 models. With a deposit of £3099, the flat-pack Seven will cost its new owner £279 per month, with a final payment of £6399. The loan is offered with a rate of 19.5 per cent APR.
For reference, the 490kg, 660cc turbo Caterham 160 carries a cash price of £17,995 fully built, or a far more enticing £14,995 in kit form.
Building the car yourself generally saves around £3000 compared to the factory produced models, but for many it’s not all about the money. For years, the experience of building a Caterham from a box of parts in your garage has been seen as a great hobby, and the company says that demand for the kits has been increasing each year.
To build a Caterham from scratch takes approximately 80-100 hours of labour, and once complete it will require an IVA test, which allows the Caterham to be registered for on road use.
Used Caterhams have always held their value surprisingly well, and although home built cars are slightly less desirable on the second hand market depreciation is less of an issue than most modern performance cars.
Before you go ahead and commit to buying a kit though, it’s worth seriously considering whether you have the time to complete the build. A high proportion of kit cars are started with the best of intentions, but never finished.
Take a look at our Caterham Seven buying guide here, and browse the classifieds for a used example. Read the full review of the Caterham 160 on evo.co.uk.