Ways to buy...

Not many of us are fortunate enough to have enough spare cash to buy our new car outright, as it is likely to be the second largest purchase that we make, remember to do your homework on your best option of financing your car as there are quite a few different options available:

Personal Leasing (Personal Contract Hire)

Personal Contract Hire is, in essence, the same as Contract Hire but for private individuals. It is ideal if you are looking for fixed cost motoring or if you are opting out of a company car scheme. However you cannot keep the car so weigh up what is important to you.

Benefits include fixed cost.........more info 

Personal Contract Purchase (PCP)

Personal Contract Purchase (PCP) is a method of funding where the customer leases a vehicle for a set period at a fixed charge. There are options available at the end.......more info

Hire purchase or Conditional Sale

Hire Purchase is where a vehicle is sold to the customer subject to certain conditions which include – all the payments are made (on time), the vehicle is .......more info

Personal Loan

There are various options available ranging from an unsecured personal loan from a bank for the whole cost of the car, followed by agreeing to a finance package with the car dealer you are in negotiation with or finally part exchanging your current mode of transport and paying the remaining balance out of your current finances/personal loan.

Benefits include paying for the........more info

Release of Money via a Mortgage

With house prices on the rise it is tempting to release money against the value of your property to fund purchases.

Benefits are the low interest rates and the fact you are dealing with your existing lender.

However it can be expensive over the long term, it is secured on your house and you have to wait for the funds to clear.

Credit Card

Depending on your credit limit and the value of the car you are buying, you could use a credit card as another option.

The benefits are short term borrowing and the ability to pay deposits quickly.However it may be more expensive than other loans and will eat into your credit limit.