Reasons to Get Your Next Car on Finance

A finance deal allows you to spread the payment over a pre-agreed term and this can make it much easier to manage financially

Buying a car outright with cash can be beneficial for several reasons, but it is also not suitable for a large percentage of motorists as it can cost so much. Not many can afford to pay the full price for a vehicle upfront, but a finance deal allows you to spread the payment over a pre-agreed term and this can make it much easier to manage financially.


Types of Deal

Finance deals can also be highly flexible and there are a few different types to consider. A personal contract purchase (PCP) deal involves making monthly payments until the end of the agreement where you can then either return the car, pay the resale value and keep it or use the resale value towards a new vehicle. Hire purchase (HP), meanwhile, involves making payments until the end of the agreement by which time you will own the automobile. There is then a personal loan from a bank or building society to consider – this means that you will own the vehicle from the start.



The type of finance deal that is best for you will depend on your preference and financial situation, but there is great flexibility so you should easily be able to arrange a deal that works well for you. Unless arranging a personal loan, it is always important to arrange the deal with specialists in finance deals and a dealership that has a wide range of automobiles available, such as Imperial Car Supermarkets. This means that you will be able to arrange a flexible deal and also benefit from consumer protection.



A finance deal can make it much easier to arrange your finances each month whilst still getting behind the wheel of a good car. The deals can also be quick and easy to arrange with many places not minding about credit rating, but there may be factors that impact the amount that you pay interest. In addition to this, there may also be limitations with what you can do with the vehicle until you own it. These usually include making any modifications and annual mileage caps.


Arranging a Deal

The key to making car finance work for you is to make sure that you select the right type of finance. If you are not sure, it is worth carrying research out online and speaking to reputable used car dealerships. Many also have handy finance calculators where you can easily enter the deposit amount, preferred repayment period and maximum mileage and the calculator will then generate finance examples based on this information and the price of the automobile.

Overall, finance deals are a brilliant way for motorists to spread the cost of purchasing a vehicle. Even old used cars can cost a significant amount that will put a strain on your finances to pay upfront, but you can reduce the impact of this with the right finance deal. Additionally, these deals can be highly flexible and provide you with a range of options once the repayment period concludes. It is important to find the right type of deal and a quality car along with a specialist dealer, but it can be the best method of obtaining a vehicle for the vast majority.


15th May, 2018


Author: wheelsforwomen

Ireland's only website for women on wheels - cars, motorbikes, bikes. Video/ reviews, driving tips - written by women for women.

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