There is no doubt that car prices have been seriously ‘rising’ in recent years, with used car prices hitting all-time highs. With many drivers unable to buy a car with the money they have in their bank account, financing their car purchase through a financial contract has become a common and attractive solution.
Of course, a car finance plan also brings a lot of benefits to the car trade. Dealers, auto brokers, and auto supermarkets of all kinds tend to offer a variety of financial plans to attract potential customers.
Taking this route is attractive, but is car finance really the smartest choice to finance your next car purchase? We thought we would answer this question more thoroughly.
Get to know dealer finance first
When researching auto finance, you are most likely to find a reputable dealer first. Car Finance Genie works with a comprehensive network of trusted dealers to provide you with a selection of fantastic car finance deals with high quality vehicles and affordable prices.
It can almost always be said that the wisest choice is to choose a car dealer that provides car finance you can trust. Safe, efficient and no hidden costs.
When looking for a dealer, you are most likely to be offered three types of car finance.
buy employment – As a financing option, you are guaranteed to purchase a rental for the vehicle itself and you will not be able to own a new motor until final payment is made. This also means you can’t sell your car without the lender’s permission, but you can return it if you’re not satisfied! A security deposit may be required, but once you pay off all your installments, the car becomes yours forever.
private contract purchase – For PCP transactions, you are more likely to pay a deposit and pay a low monthly installment for a pre-determined payment period. At the end of this period, you can buy a new car in a lump sum, return the car or exchange it for another, depending on the particular dealer. This versatile choice is perfect for those who change cars on a regular basis, and have no problem adhering to the stated mileage limits (often the terms of those financing options).
private rental – Private rentals are very similar to the PCP options described above. Essentially, you hire a car with a low monthly payment. Unfortunately, you don’t have the option to buy a car when your personal lease ends. But that means you’re not tied to one vehicle. Deposits, mileage limits and contract terms often vary by vehicle.
General Advantages of Auto Finance
The benefits of auto finance are plentiful, no matter what the downsides. Overall, car finance is a viable option for many drivers. Low monthly payments, negotiable lease terms, and many dealerships offer free estimates.
Choose your car finance genie
At Car Finance Genie, their team offers a wide range of auto finance deals for enthusiasts who can’t afford the vehicle of their dreams any other way. car price.
Request our free quote today. Then you will be amazed at the great value that an auto finance contract with us can represent.
By Charlie Clayton