subject: Buy a new car with these Financing tips [print this page] Buy a new car with these Financing tips Buy a new car with these Financing tips
With Winter drawing in it is no wonder that more and more people are thinking about purchasing a new Landrover in Kirkcaldy or a new yeti in Cambridgeshire. Obviously, the best way to pay for anything is to buy it outright but unfortunately for some this simply is not an option.
There are 3 main areas you could look at; the car dealership in house finance, securing a personal loan elsewhere, or driving a hard bargain at auction.
When financing from a showroom there are few things to keep in mind, such as the interest free options, and the all-important need to shop around'. Never go for the first offer or deal you see, because you more you understand about the nature of the new or used car buying industry, the more chance you have of bagging yourself a true automotive bargain.
There are many options for you to choose from such as Hire Purchase (HP). With Hire Purchase finance offers you can put down a smaller deposit compared to interest free options. Over a set amount of time, you then pay a monthly fee from anything between 3 to 5 years, and at the end of the finance contract, you keep the car.
There is also PCP, otherwise known as Personal Contract Purchase. With PCP, your initial costs are lower however towards the end of the term you must return the vehicle or pay a lump sum in order to own the car.
When opting for a personal loan, again, ensure you shop around for better deals. A personal loan will offer you more flexibility in terms of contracts, repayments, and interest rates.
If you have chosen the perfect form of financing for you, then make sure you negotiate the price down. You will be so surprised at how much you save in the long run on your new Landrover in Kirkcaldy. Before you head down to the showroom, do some preliminary research, drive yourself a hard bargain and walk away with a fantastic new car.
