Our fantastic finance options
Hi, it’s Adrian here again from Belgrave Motor Company in Sheffield, with another helpful and educational blog post. This blog post is for anyone looking for information about used car finance, and hopefully it will help you make the right decision.
If you’d love to own a prestige car, such as an Audi, Mercedes or BMW, but don’t want to spend the full amount up front, it might make sense for you to spread the payments over several years. This would let you have a better control of your budget, because you’ll know exactly how much you’ll have to spend each month on your car payments, and you can pay for it gradually.
Basically, buying a used car on finance means you’re paying to hire a car for a fixed amount each month, but at the end of the term you will own the car, and can part exchange it for a newer car if you like.
Buying a prestige car on hire purchase (HP) can be an affordable way of owning your dream car, as long as you’re sure you can make the payments every month.
These are some things you’ll need to consider when buying a used car on finance:
1.The make and model of car, and how much it costs. We have a wide selection of prestige cars in our showroom, and if there is a specific model you’re looking for, we’ll see if we can help you find it.
2.The length of time you want to make payments for. At Belgrave Motor Company, we can offer finance for up to 5 years, which makes the monthly payments lower, but the total cost of the car will be higher.
3.Your credit rating. Some car finance companies will only accept customers with good credit rating. We can help with negative equity, and we do everything we can to help customers find the most affordable option, depending on their individual circumstances.
4.The size of the deposit you can make. The more money you pay up front for your prestige car, the lower the amount of finance you’ll need, and the lower your monthly payments will be. A deposit would usually be at least 10 percent of the cost of the car (£1,000 for a £10,000 car, etc.).
Hopefully this has helped you find out more about used car finance. If you have any questions, or would like to discuss your options, come and chat with us, or give us a call any time.
I’ll be providing even more details and examples of finance packages in future blog posts, so remember to come back and check this blog on a regular basis - add us to your bookmarks.