The Vietnamese manufacturer VinFast sets up in France and offers two 100% electric SUVs: the VF8 and the VF9. The first model is displayed from 599 euros per month, an interesting monthly payment for a D-segment SUV that wants to be premium. But is it really a good deal? Decryption.
You may not be familiar with the Vietnamese manufacturer VinFast, and that’s completely normal. However, it is already possible to come across them in the streets, since the first models arrived in France at the end of last year.
We were talking about it in a file, VinFast is one of the subsidiaries of a Vietnamese conglomerate. The manufacturer currently offers two electric models in France, namely the VF8 and the VF9, two high-end SUVs. It is the VF8 that interests us today, a D-segment model, 100% electric, which could be compared to Tesla’s Model Y.
As we will see in this file, VinFast wants to be a premium manufacturer and, contrary to popular belief about Asian cars, the prices are also premium. It is clear that apart from the little recognized coat of arms in Europe, the VinFast VF8 offers top-of-the-range performanceand we will see if, from 599 euros per month, approximately the same monthly payments as a BMW iX1, this model is a good deal.
The VinFast VF 8 offered at 599 euros per month
As with the majority of “starting at” financing offers, this is the basic model. At VinFast, the “Eco” trim level takes on this role. Below is the list of the main standard equipment of the model concerned:
- LED lights
- 19 inch rims
- 15.6 inch touch screen
- wireless charger
- Wireless
- GPS
- Remote vehicle location
- Rear armrest
- Rear seat adjustable in 2 positions
- Heated and electric front seats
- Heated steering wheel
- Synthetic leather upholstery
VinFast offers another level of finish above called “Plus”, a finish that includes more standard equipment, but which, obviously, is more expensive and therefore increases the monthly payments:
- Leather upholstery
- Electrically adjustable steering wheel
- Ventilated and adjustable front seats (10 positions)
- Heated and ventilated rear seats
- Panoramic sunroof
- Electric tailgate
- 20 inch rim (21 inch optional)
As you can see, like many Asian cars the default standard endowment is quite generous. There are two types of battery at VinFast in Europe: 82 kWh and 87.7 kWh. In its “Eco” version with the “smallest” battery, the VF8 boasts 354 hp, 500 Nm of torque and 400 km of range according to the WLTP cycle. It is precisely this model that is affected by the offer at 599 euros per month.
What are the conditions to be eligible for the VinFast VF8 LLD offer?
This is a long-term rental offer on 37 months and 10,000 kilometers per year, i.e. 30,000 km in total. VinFast indicates that the offer at 599 euros per month is subject to a first rent of 7,350 euros. Strangely, VinFast does not mention an ecological bonus for its model in its offer, and this is normal, since the car is displayed from 62,200 euros and therefore exceeds the threshold of 47,000 euros.
By browsing the VinFast site, you will notice that the car is also displayed from 46,050 euros on its site, an ecological bonus of 5,000 euros not deducted at once, but with battery “not included”! Because yes, VinFast offers two prices for its VF8 : from 46,050 euros, plus battery rental at 120 euros per month, or 62,200 euros, but battery included. The financing offer that interests us directly includes the rental of the battery, you will not have to pay more than the 599 euros claimed.
How much will the VinFast VF8 LLD cost you?
Over three years of long-term rental, your VinFast VF8 will cost you €28,914. VinFast displays its car from €62,200 on its site, with battery included (that is to say without additional “costs”).
Starting from the base price, you will pay, over the three years of the rental, 46.5% of the price of your car. This is overall a little more than the discount over three years for this type of vehicle, especially for electric vehicles where demand continues to increase, thus implying a certain price stability. As the offer is not an LOA, there is no option to buy back the vehicle. It will therefore be necessary to return the car at the end of the financing.
Beware of repair costs, these can be high at the time of return. We advise you to do it before at a bodybuilder, it will cost you less than at your dealer in general. If you take a vehicle back to your dealer after your LLD, he will also be a little less careful about the costs of repairs.
Things to remember
Overall, there seem to be some inconsistencies still for VinFast in France. On the one hand, the manufacturer’s website communicates on an offer from 649 euros per month for its VF8, then, in three clicks, we arrive at an access price of 599 euros per month.
The battery rental system should probably cause a lot of misunderstanding for customers. Renault tried for a few years on its Zoé, before returning to a more traditional system, with more expensive, but more understandable displayed prices.
The LLD is interesting if you do not have visibility concerning the second-hand price of your car and you already know that you are going to resell it. With this type of financing, you know in advance the total cost of ownership of your car. On the other hand, in cash or on credit, you cannot know this price, since it will depend on the resale value.
Overall, the services offered by the VinFast VF8 correspond well to the segment it is targeting. On the other hand, the prices lack foresight and could put off some potential customers. Fortunately, VinFast has chosen to develop a network of “classic” dealerships. Customers will know who to turn to if they have questions. And overall, having a physical network reassures customers and it also quickly becomes a selling point.
Vietnamese carmaker VinFast lands in Europe. We were lucky enough to be among the first to drive the future VF8 SUV. It is 100% electric and it takes an approach inspired by that…
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