Volvo XC90

The initial payment is the first and largest payment of the agreement. It is quoted as a number of monthly payments rather than a fixed sum, so a 9-month initial on a £200 deal means £1,800 up front, followed by 35 payments of £200.

It is not a deposit and it is not refundable — it simply brings part of the cost forward. A larger initial lowers every monthly payment that follows; a smaller one keeps more cash in your pocket but costs a little more each month. You can compare both above by changing the initial payment.

9 months upfront as your initial payment, followed by 35 monthly payments. Total of 36 months.

The bigger the initial, the lower the monthly. A 12-month initial spreads less of the car's cost into the monthlies.

This deal is on stock vehicles — typically 2–4 weeks from order.

You'll pay an excess-mileage charge per mile at the end of the term — typically 5-10p/mile.