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Car finance tips to help you save money

We all like to save money and when borrowing certainly need to aim to pay as little as possible in interest for it to ensure that we get the best deal for our needs. Therefore, just as time is taken when shopping around for the car you may want to take your time and do the same for your loan for the car. Here are some great car finance tips to help you on your way to getting the best deal and save money.

We all like to save money and when borrowing certainly need to aim to pay as little as possible in interest for it to ensure that we get the best deal for our needs. Therefore, just as time is taken when shopping around for the car you may want to take your time and do the same for your loan for the car. Here are some great car finance tips to help you on your way to getting the best deal and save money.


Your credit rating is a very important part in securing the cheapest loan possible with the lowest rates of interest. To get the very best deal for your needs you really have to have a perfect rating. This means you have no bad marks against your rating and do not owe a lot out to creditors already. If you have had problems repaying loan or credit cards in the past then this will have affected your credit rating, as can other things. If you have a bad rating then you could be turned down for any type of credit or might be limited to taking out what is known as a bad credit loan.


If you are taking out a loan then you could consider a secured or unsecured loan. Again this would depend on many things such as your credit rating and how much you want to borrow. If buying a second hand car and you have a good rating for credit then you could take the unsecured loan which would generally come with a higher rate of interest. Should you want to borrow a great amount of money then you could have to take out a secured loan. This would usually come with a lower rate of interest and you would be able to spread out the repayments over a longer period of time. However there is a catch and this means the amount borrowed would be secured on something of value which could be the car or property.


Another of the many car finance tips to help you get the best deal on your finance is to shop around for a loan online. However this can take a great deal of time on your part and you might not get the best deal. There is another way you could give some thought to when considering a car loan online and that is by going with a specialist website to compare loans. You would also be able to get your hands on a great deal of valuable information regarding the different types of insurance and compare with some of the leading insurance brokers in the UK.

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Back to May 2009

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