Car Loans

The Internet is the number one place to find low interest rates for new and used car loans.

Whether you are looking to upgrade your old car to a new model or you are planning to purchase your first car after passing your driving test, our specialists will be able to find you an affordable car loan whatever your personal circumstances. Buying and running a car can be an expensive endeavour, don't make it more expensive than it needs to be - choosing the right financing is important to ensure that you do not pay more than you have to.

We can help you to arrange your car loan quickly and easily, getting you on the road in your new car in no time. Below is an outline of the two main car finance methods available, we recommend the personal loan approach, but we have provided information here on both so you can decide for yourself.

Second Hand Car Season

Not only is season of Spring the commencement of blossoming flowers and a change in temperature, but in the car world it’s the start of bargain hunting for second hand cars. Over the coming months (between March and August) Britons are set to spend well over £60 billion on purchasing a second hand car, with the average price of a single automobile at £5000. This frenzy of car buying is said to be financed predominantly by personal loans.

Think about trading in you old car

When looking to finance a new car perhaps you should consider if could trade in your old car to cover some of the cost of the new one. First you should estimate the value of your car. Compare it to make and models of similar cars that are already on sale in sales magazines and on the internet.

Car Finance

When looking for a car loan, there are three main type of loan on offer from various sources, these are hire-purchase, manufacturer schemes and personal loans.

Hire purchase is a scheme by which the customer receives the car and in effect hires the car from the manufacturer for the term of the scheme, at the end of this period the ownership of the car is transferred to the customer. The total amount payable by the customer is usually greater than the value of the car, this is how the seller makes money out of the scheme.

A second type of scheme is a manufacturer’s credit arrangement, most franchised dealerships will offer a finance scheme of some kind, allowing customers to spread the payment for their car over a period of time. These schemes can often be a big earner for the dealerships, however the manufacturers do occasionally run special promotions offering very low finance rates as an incentive in order to boost their car sales.

Auto Loans

A personal loan is a common choice for people looking to finance the purchase of a car, these can be either secured or unsecured, many loans tailored towards car purchase will be of the secured type, using the vehicle being purchased as the collateral. This approach will usually result in a lower APR( Annual Percentage Rate ) for the loan, as the risks to the lender are reduced by having this security in place.

Having a personal loan can often lead to a better deal on the purchase of a car, as you will not be tied to a particular dealership in terms of the loan, you will know what your budget is (and won’t be tempted to up the amount, which can easily happen if you wait until you’re at the dealership before arranging the finance), and having cash for the purchase can put you in a stronger position for negotiating the price.

Just click on the quote button and let us do the hard work and put the fun back into this special purchase.