Finance might seem like a minefield to you but it really is a simple process. Car Loans Express have tried to simplify this for you to assist with your understanding.
Our finance is simply the different financial products which allows someone to acquire a car with any arrangement other than a single lump payment.
There are a number of options for Finance depending upon which option is right for you these options have been explained in further detail below:
Many dealers will offer you Hire Purchase to buy your car over a set period, with fixed monthly payments.
This is a loan which is based on your ability to make monthly repayments. No assets, such as your house or car, are used as security for the loan.
You can secure a loan against assets such as your home, which allows larger amounts to be borrowed over a longer period.
A PCP allows you to pay a deposit and lease a car for a fixed time with lower monthly repayments.
An example PCP plan for a £20,000 car could be:
The final payment – sometimes known as a balloon payment – is calculated at the beginning of the agreement and is based on the predicted future value of your car. At the end of the agreement, there are three options:
With all types of loan and credit agreements, there are some risks, but in the UK finance is regulated by the Financial Conduct Authority and lenders must follow responsible lending practices. The finance is secured on the vehicle, so if you don’t keep up with the monthly repayments the lender could repossess the vehicle.
As with any type of finance, missing payments can damage your credit profile, but a responsible lender will look at your income and expenditure and make sure you can afford the repayments.
You can apply now for finance using the link below, or you can complete an enquiry using the box above.
"This is the second time I have used Carloans Express, wouldn't use any other. Get the best deals and best finance packages that main car dealers. Nick and his team are very patient and understanding and are always a phone call / text away. Excellent handling as usual from start to finish. A* service. Have recommended Nick and his team to friends to use and their experience has been exactly the same. Good company, good man... AMAZING car. Thanks guys, see you in 12 months - Billy"
"I have used Car Loans Express for my finance for the past 5 years. The service is very personal and I would recommend them to anyone looking for a no-jargon, friendly service."