It's the finance-office person's job to upsell you on those items AFTER you've agreed to a price for the car with the salesman. In this article, we'll cover the choices you have for financing, what determines the interest rate you get, and how to determine if you're really getting the best deal, as well as some scams to watch out for.
We'll even give you a cheat sheet to take with you when car shopping to help you figure out things like whether taking the rebate or getting the zero-percent interest deal is best. If you're like most people, paying cash to buy a new car just isn't in the realm of possibility. And even if it's in the realm, you may not want to deplete your savings account to buy a new vehicle. This means that you're either going to be leasing the car, or buying the car by financing it.
If you're buying, then you're probably financing it through the dealership, a bank or credit union, an online financial institute, or maybe even a family member. While leasing is good for a lot of situations, it's a whole other animal, so in this article, we're focusing on financing.
If you know you want to finance your car rather than pay cash, then you need to do your homework and decide how to get the best financing deal. If you do have the money to pay cash for your car and are considering doing it, how do you know if it's really the right thing to do? Here are some instances when paying cash really is in your best interest.
But if you're like many people, you probably need to finance your car. PCH contracts typically last for two or three years, with an agreed mileage limit of 10, miles a year. Check to see if a separate manufacturer servicing package is cheaper before you tick that box, though. Go for PCH if you say yes to one or more of these statements: If personal contract hire appeals to you then we recommend visiting our own What Car?
Leasing platform for the best leasing deals on the market. Check out the detail on current and, if you can find them, upcoming manufacturer finance deals. These might include interest-free offers, low APR rates or deposit contributions.
Go for dealer finance if you say yes to one or more of these statements: Buying a car outright is also a sensible alternative to leasing if your mileage is high or unpredictable, because leasing companies can levy high excess mileage charges. Using a credit card was the least popular method of buying a car in our whatcar.
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A personal loan from a bank or or savings to buy a car, personal loans are. Here's a guide to break down the basics, and work out whether personal contract purchase - or PCP for short - is the right car finance deal for you. We are in the.
Personal loan A personal loan is the most popular way to finance a new car, according to a poll on whatcar. Hire purchase After a bank loan, hire purchase HP is the simplest way to buy a car. Our experts are standing by to help, just tweet us your question using askwhatcar For all the latest reviews, advice and new car deals, sign up to the What Car?
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