Car Finance
Car finance - do your homework
Summary: When it comes to finance for your new car, don't automatically assume the showroom offer is the best. Shop around as seriously for your finance as you do for your car and you'll reap the savings.
New car registration plates are introduced in March and September each year. March tempts slightly more buyers than September and as many as 2.3 million new cars are sold annually.
Car Finance News
recent news on car finance.The feeling of stepping into the showroom and driving away with your own choice of a spotlessly clean, bright shiny new car can't be beaten. Car salesmen will be just as happy as you are if you've taken out showroom finance too. Just take some time to consider whether or not this would be the best step to take.
There are many ways of financing your new pride and joy. If you can pay cash, then you should be able to find a supplier who'll give you a nice discount. Even better prices will apply if you don't need to part exchange your old car, making a quicker deal all round.
On the loan front, there's plenty of choice. Some dealers are able to offer zero per cent credit and other good deals. If this isn't available with your choice of car, then remember that typical showroom finance can be expensive and there are other options available. Before you decide to take the plunge and place the order, do some research to find a good deal. Use the internet to search on-line for car finance. You don't want an individual company, but one offering a choice of various options.
As a typical example, take a car costing around £10,000 on the road. At 10.3% interest, finance would cost around £2,700 over a five year period. Alternatively a competitively priced unsecured loan at 5.9% would cost around £1,200. Rates vary and these figures are just an example, but it's always worth doing the comparison.
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