Car finance options

When it comes to buying a new or second hand car, many of us simply cannot afford to do so without taking out some form of lending. You can either apply for car finance or a personal load. A personal loan is not actually attached to the car meaning the vehicle can be sold if needed to without settling the outstanding amount first.

With car finance you usually have a number of options. You can chose to split the payments over a set term (3 years for example), after which time the car will be paid for in full and you own it. Or sometimes you can chose to only part off part of the finance over the set period and then at the end either hand the car back to the finance company, pay the final balance in full and keep the car or sometimes even re-finance the outstanding amount of a period of time.