subject: Compare Car Loans [print this page] Compare Car Loans Compare Car Loans
In practice, it may be necessary to look a little bit more closely at what the vehicle loan comprises in total before you may be able to come to an informed decision.
Thinks to look for in car loans may include:
is the loan tied to the purchase of a specific make of car or a specified dealership;
does it have penalties for early repayment (however unlikely that may seen - you may wish to consider it one day);
could you call upon a payment holiday if you needed it;
do they demand that you contribute a percentage towards the overall cost (i.e. a deposit) or will they fund 100% of the car's market value;
do they accept applications from the self-employed (if you're in that category);
what is their policy on credit history problems (if you have any)?
Of course, the interest rate charges and therefore how much it will cost you, is also typically important but only as part of a much broader consideration when trying to compare car loans.
For example, if you really have your heart set on one type of vehicle, then a used car loan that only allows you to purchase vehicles from the forecourt of specified dealers may not be of great use to you if they only have a limited choice of cars available - even if it is slightly more attractive in interest rate terms.
Another example may be the apparently very low-cost loan that requires you to have available a 25% deposit. If you haven't got that sort of money to hand, then the fact that the loan offers a very attractive interest rate is probably going to be of only academic interest to you.
You may feel that searching for suitable finance and making car loan comparisons can be a little time-consuming and maybe even tedious.
That's why it may be worth considering the onsite facilities offered by the specialist providers of car finance. They often have many lenders they can access to find deals that may be suitable for your individual position.
It may be better and easier if you let someone else compare car loans for you - and you can use that time saved elsewhere!
