Cheap Car Finance Options

Cheap Car Finance Options

Blog / Cheap Car Finance Options


When it comes to car finance options, motorists will always be looking for the cheapest possible deals that are available, but it is about more than just picking a cheap motor. It makes sense to understand exactly why cheap car finance is both important and popular amongst drivers, as well as taking into account two particularly noteworthy factors that help to bring the price of a car finance plan to the lowest possible level, all of which we will be discussing in this article today.

The Importance Of Cheap Car Finance

At first glance, the benefit of cheap car finance is obvious: it means that you will be paying less money for your chosen vehicle. If we look beyond this, though, it is easy to recognise the real value of having a cheap car on a finance plan. It allows the driver to be introduced to what car finance is all about without having to break the bank to enter into and sustain an agreement, as opposed to going all-out and struggling within the first year of a long-term deal. It also allows the driver to keep sufficient funds aside for other major purchases and/or agreements that are in place (such as a mortgage), because they know that they do not have to find quite as much money to pay off their vehicle if it is at the lowest possible price bracket than they would if they decided to purchase the absolute best model available on the market at that time. In addition, opting for a more moderate car finance plan will also allow the driver to build and/or maintain a positive credit score, since their vehicle agreement would not be placing them in any financial peril.

It is worth pointing out, of course, that the quality of their car might be compromised by going down the route of finding the cheapest possible finance plan. A driver has to be mindful of the fact that when it comes to cars, you get what you pay for, so their vehicle will not be as new, flashy or fresh as others on the road. But a significant percentage of motorists are simply happy with having a car that gets them from A to B, which operates safely and with all key functions working as they should. For the sake of an extra 10,000 miles on the clock, for the sake of an extra year or two that the engine has been through, and maybe even for the sake of contemplating a new coat of paint for the bodywork at some point, these elements can all result in the driver paying a lot less for their car, which is a fair trade-off for a motorist who is more concerned with simply driving than about driving the most eye-catching vehicle around.

0% Interest finance

One of the key factors which will help to bring down the cost of a car on finance will be the lack of any interest involved. When you sign up for a major long-term contract, oftentimes there can be additional interest payments on top of what you are paying per month. There are ways to bring the interest levels down when negotiating, but in many cases, there will be some form of interest required. When it comes to cheap car finance, the key is to try and identify opportunities of 0% interest, which means that you will only be paying the monthly amounts and nothing more, which will save a lot of money for the driver. To a lot of motorists, it is the interest payments that push the cost of the vehicle up to a stage where it is suddenly no longer a viable purchase, bringing about potential financial struggles that cannot be successfully managed in the long run. If additional interest is taken away, however, then the amount of money being spent per month on the car is brought down to the bare bones, and as a result, a car finance deal becomes a more feasible plan to agree to.

No Deposit finance

The other way that a car finance plan can be made cheaper for the driver is the absence of a deposit. Many plans will require a deposit that can range from 10% to 20% of the total cost of the vehicle in advance, which then sets up the customer to make the rest of the regular payments (and in the case of a Personal Contract Purchase, a final significant balloon payment as well). If the deposit is taken away, however, then the driver only has to contend with making the agreed-upon monthly payments and nothing more; it is easier to find a low three-figure amount once a month than it is to also find a high three-figure or even a four-figure level of money in advance, so removing the deposit where possible would be a big step towards making for a cheap finance plan. The only downside is that this could bump up the monthly payments now that there would be no deposit involved, but if the overall price of the car is relatively low anyway, the difference should not be major.


Cheap car finance options are available in great number, and there will always be ways to save money on your vehicular purchase. That being said, identifying the areas where the cost can be brought down even more will be beneficial in the long run, and it will generally open the door for you to be able to consider the cars available knowing that additional interest and deposit payments would not be a requirement. Here at Rix Motors, we always have a plethora of top-range vehicles available at a low pricing level, and we take interest and deposit out of the picture as well, so if you are looking for cheap car finance plans that put the financial wellbeing of the customer first, we are the place to come!

Further Information

To find out more about all of our cheap car finance options, contact our Cheshire based team who will happily assist you with our most attractive finance offers on some of the most sort after car brands, or visit the links below:

So, these are just some of the reasons why we are considered a leading car finance specialist, but you can learn more by contacting our vehicle financing team here or if you just want to browse our stock page first, feel free. For an instant, No Obligation quoteApply today. Want to know more? call us on 01925 230360.

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