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The average wedding now costs around £20,000
Source: Credit Action (www.creditaction.org.uk)
Car Finance Loans
Buying a car is often the second biggest purchase that a person will make after their home and in most cases will means that they need to borrow money to do it. The aim is to allow you to drive away in the car of your choice while making regular monthly payments to the lender until it is paid off. Read more...>
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NetcarsBad credit car loan specialist with 90% acceptance |
£3,000 | £100,000 |
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Welcome Car financeIdeal for those with bad credit history |
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Accept Car CreditRecieve credit approval by text message! |
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U Can Car CreditGet an instant credit check and drive away same day |
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Most car dealers are more than happy to arrange a finance deal but these arrangements are usually at highly inflated interest rates. The amount you end up actually paying for the car can be shocking.
Organising a car finance loan or personal loan that you then spend on a car can save you money in the long run over a dealership’s own finance scheme.
A secured personal loan operates in the usual way and most lenders will have no issue with the borrowed amount being used to purchase a car.
There are specialist car finance loans available. One advantage of some car loans is that they can be secured against the car rather than a property, which means that tenants can raise the money to buy a car as well as home owners. A specialist car loan may also offer car related benefits such as 6 months road tax.
GAP insurance is an additional optional extra that some car finance loans can include usually at an extra cost. The GAP is the difference between what you receive in an insurance pay-out and the total still outstanding on the car if it is written off or stolen.
Top Tips
- Don’t forget to compare on the spot car dealer finance rates against other forms of borrowing
- The car itself can often act as security on the loan but that does mean that it will be taken back if payments aren’t kept up
- Calculate how much the car will have cost at the end of the period so you know its true value to you
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