Should you join the 82% of UK drivers who got their car on finance in 2018? If you find yourself asking this question and are unsure of the correct answer, then you’re in luck! UK Car Finance, a car finance provider based in the North East of England, are here to help you! You may be unsure of how car finance works, you may not understand car finance jargon or you may be worried about affordability – but that’s ok! In this post, we discuss the benefits of car finance and why it might be the right choice for you.
What do I need to know?
Car finance was introduced into the finance industry with the intention of being an affordable way for drivers to fund their next car, and that’s exactly what it is!It’sworth mentioning that within car finance there are 3 main types of car finance agreements but there are others! A personal loan gives you the most flexibility. It is a form of car finance but is ultimately a loan to buy anything you want. Many car finance companies use personal loans as it gives you the flexibility to buy the car you want within your budget. It also means that you will own the car outright as you have used the loan to pay for it. You will receive your agreed sum and then use it to shop for the car you want. You then pay back your agreed loan over a fixed period. HirePurchase … Read More . . .