Car Finance Explained

1. What is car finance? As a quick summary, car finance is a loan that pays for a car you want to purchase. It could be a partial loan (where you contribute a deposit at the beginning) or it could be what we call a 'zero deposit' loan, where you borrow the entire amount. You apply for the finance, buy the car and then make the agreed monthly repayments to the lender. You can find car finance loans from different places, including the car dealership itself, your bank, a building society, a car finance specialist, or other lenders. Car Finance Explained What is the meaning of car finance? Financing your car allows you to spread the cost of the overall price, paying in monthly instalments. This can be helpful if you don't want to pay for a vehicle up front and would prefer some flexibly over the way you pay for it. Car finance also tends to be easier than getting a bank loan, and there are some zero deposits deals available for buyers. Like with most

2. loans, you will need to pay interest on top of the price of the car. Agreements usually start at a minimum of 12 months but can last for as long as seven years. What is car finance in simple terms? Whether you don't have enough money to buy a car outright or would simply prefer to spread the cost, car finance can help. In simple terms, it allows you to buy a car without paying for it all in one go. Instead, you pay a set monthly amount to the lender over a period of time, usually anywhere between 12 months and seven years. In layman's terms, car finance is buying a vehicle while borrowing the money to pay for it. Address:- Argyle House, 29-31 Euston Road, Kings Cross, London, NW1 2SD Visit us :- https://www.carmoola.co.uk/blog/all- about-car-finance/