Car Finance – a Difficult Decision

Posted on October 30, 2017 at 11:37 pm

Should you take out a car finance deal? When you are looking for a new car, you will probably be thinking about this as an option. It’s easy to see why, as it may be the only way you can afford a new vehicle. There are some things that you should bear in mind before taking out a deal so that you don’t get stung at the end of it.

You know that, with finance, you are always going to be paying over the odds for a vehicle. You won’t just be paying the going rate for a car – you will be paying a (possibly very large) rate of interest as well. This is a difficult situation to be in, as cars are not fundamentally valuable things and depreciate very quickly indeed.

If you are looking at a car finance deal, you can also think about PCP – personal contract purchase. This gives you a vehicle for around 3 years, but you will not own it at the end.

Posted in Cars