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Finding Car Credit

There are different ways that you could finance your car purchase. Of course the choice will to some extent depend on the fact of if you are buying your car from a private dealer for example using one of the free ads newspapers or on the web or if you are buying from a dealership. When finding car credit whichever means you decide to use, you could want to shop around for the best deal and one of the ways you could consider doing so is with a specialist motoring website.

There are different ways that you could finance your car purchase. Of course the choice will to some extent depend on the fact of if you are buying your car from a private dealer for example using one of the free ads newspapers or on the web or if you are buying from a dealership. When finding car credit whichever means you decide to use, you could want to shop around for the best deal and one of the ways you could consider doing so is with a specialist motoring website.


Should you be buying your new or used vehicle with one of the many car dealerships then you have more choices when it comes to borrowing to pay for the car. Let’s first take a look at one of the most common ways that you can get the money and that is be hire purchase.


Hire purchase is usually offered by dealerships when buying, they lend you the money and you then pay back what you owe to them over a period of time. You can spread out the cost of the repayments over a longer term if needed but you will of course pay more for the car by doing so as the interest added on will be more.


However if you need to borrow a substantial sum of money for a new car this option could make it affordable. You will usually need to pay a deposit before they will let you drive the car out of the showroom and if this is a sizeable sum then you might even be offered a 0% deal on the interest rate for a period of time. However you will have to take into account that when taking hire purchase with the dealer the car is not yours and cannot be sold until you have made the final payment on it.


If you have decided to buy a second hand vehicle then there are many great bargains out there. However if you chose to make the purchase with a private dealer then your choices for a car loan are somewhat limited. If this is your choice then you could consider a private loan. You could search around for the best deal with the lowest rate of interest which of course will depend for one thing on your credit rating and the ability to repay what you want to borrow. You will then have cash in hand which will allow you to make the purchase which gives you more freedom. You could however also choose this option when finding car credit if you are buying from the showroom. Cash in hand means that you could haggle over the asking price and maybe get something knocked off for paying in cash.

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Back to July 2009

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