Being able to buy a great car on finance is getting easier and easier –finance can often solve many problems while allowing you a greater choice of cars, without the burden of applying for a loan or buying a cheap car.

Finance basics

Buying a car on finance can give you the opportunity to leverage your savings – this means basically that you can use your savings as a deposit and guarantee that you’re able to pick up a car that’s got guarantees and support , a verifiable history from new, and most importantly, terms that you can manage. If you’ve got a decent deposit to put down, you may find that it’s better to use that for an upgraded car rather than buy an older, less reliable one outright or if you’re interested in buying a specific car, then you can go for the one that you want, and perhaps get a better deal.

Why borrow from a car finance specialist and not your bank?

One of the biggest questions people have when buying a car, is why they should borrow from car finance specialist when they might be able to borrow the same amount from their bank? It’s important to bear in mind in these cases that though bank loans may appear to be favourable, car finance deals often include ‘extras’ that you may or may not get paying in cash, or find deals that might not otherwise be available by paying in cash – or you may not be able to borrow the amount that you need for the car you really want, which is why financing can be better. Also, most car financing companies know the intricacies of buying a car and can recommend, both dealers that they work with, and may offer extras such as car checking services or MOT’s or more. It all depends on the dealer and financer in question.

Borrowing the easy way

In many cases, most people don’t know what car they want until they’ve had a look around, or conversely, have very specific ideas of what car they’d like to get. In both cases, until they know how much they’ll need to borrow, they can’t talk to their bank manager, which means, especially in the case of second hand cars, the car may have sold before the loan is cleared into the account – in the case of car financing this isn’t a problem – you can choose your car, place the deposit, apply and in some cases, drive away the same day. If you want to shop online there are even sites that allow you to choose finance and deals that suit your needs, and the needs of the car you’d like to buy.

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