Financing your new car
Here’s what you need to know when it comes to paying for a new car writes Geraldine Herbert The Covid pandemic has created much uncertainty around purchases that have a significant impact on your finances like car buying. If you are considering changing your car you may be wondering is now the right time. To tempt you back into showrooms there are a host of post-covid car deals and offers available at dealerships nationwide, so it is...
PCP or personal loan? The pros and cons explained…
Consider your car finance options carefully in order to get the best value for your money, writes Geraldine Herbert Unless you are a cash buyer, when buying a new car the chances are you are likely to consider opting for a personal contract plan (PCP) or borrowing the money from a bank or credit union. Below are some things to consider before you commit to either. Personal Loan The simplest way you can finance the purchase of a new...
How to finance your next car
Consider your finance options carefully in order to get the best value for your money writes Geraldine Herbert Thinking of buying a new car? With a multitude of finance options available it pays to spend time determining just what is the best type of finance to sign up for. Aside from paying in cash your options include, a bank loan or credit union loan, Hire Purchase (HP) or Personal Contract Plans (PCP). PCPS An increasingly popular...
Is PCP Car Finance the right option for you?
Consider all your options and read the small print when deciding how to finance your new car writes Geraldine Herbert What is a PCP? PCPs are a form of car finance based on a HP agreement. However unlike HP or a bank loan the payments are typically lower and at the end of the agreement you have the choice of whether to make that final payment to own the car or not. How does a PCP work? With a PCP, repayment is broken down into...
The pros and cons of Personal Contract Plans (PCPs)
Personal Contract Plans are not suited to everyone, so study what’s best for you, writes Geraldine Herbert An increasingly popular way to finance a new car is under a Personal Contract Plans (PCP). But what exactly is a PCP and who is it best suited to? Nearly all car manufacturers now offer PCPs. Under this type of scheme the repayment schedule is split into three very distinct parts. First, a deposit is paid – usually 10%...
