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 whole cost of the car and competitive fixed interest rates.

Drawbacks are that it may affect other borrowing and you need a good credit rating. You also have to wait for the funds to appear.

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