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Finding car finance the easy way

If you want to go about finding car finance the easy way then look no further than your home computer. There are specialist websites where you can search for and compare for the best deals in car finance that often come with the lowest rates of interest. They also provide you with information and advice when looking for a new or used car and on the different ways of taking out finance and choosing the best option for your needs.

If you want to go about finding car finance the easy way then look no further than your home computer. There are specialist websites where you can search for and compare for the best deals in car finance that often come with the lowest rates of interest. They also provide you with information and advice when looking for a new or used car and on the different ways of taking out finance and choosing the best option for your needs.


One of the factors that will go a long way to how much you would have to pay in interest rates and which might be the most suitable type of finance for your needs is your credit rating. If your credit rating is excellent then you will usually have access to the lowest interest rates. If your credit rating is poor then you could have to pay a higher rate or you might even have to look into taking out a bad credit car loan.


If you are buying a brand new vehicle then you will often have no trouble finding car finance as often the dealership is only too eager to get you to take out hire purchase. However this is not necessarily one of the cheapest ways of taking out car finance and if you took the time to compare deals you may be able to save money. Thought should be given to hire purchase to ensure that you know what you are taking on. If you take HP with the dealership the vehicle will not be yours until you had paid the final instalment on your loan. During this time the lender could take your car back if you fell behind on the repayments and could not catch up on what you owe. You would not be able to sell the vehicle until the final payment or trade it in for a different model. The plus side is that you pay a deposit on the loan so this would help you to keep down the cost of monthly repayments for the loan.


When considering and finding car finance you could also consider taking out a personal loan. To take out an unsecured personal loan you will typically need to have a great credit rating. The unsecured interest rate on the loan will generally be more than with a secured loan and you would not be able to borrow as much with the unsecured loan as you would with a secured. You would also have to repay it back over shorter terms than if you had taken a secured loan. However the plus side to the unsecured loan is that you would not have to secure anything against the loan as you would with the secured loan. Therefore both the pros and cons would have to be taken into account before rushing into deciding the most suitable type of car finance option for your needs.

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Back to May 2009

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