If the time has come for you to buy your next vehicle, a great option for you to consider when making your purchase would be to do so on a dedicated and structured finance plan. In this article, we will be taking a closer look at the main benefits for drivers of buying their brand new car on a finance deal.
First of all, finance plans allow you to plan ahead when it comes to making payments. If you were to buy a car on cash, you would need to provide all of the money up-front and in one fell swoop, which could have a detrimental effect on other finances in the short-term. However, by opting for a month-by-month finance deal, you will end up spending a lot less money per month in order to comprise the full payment of the vehicle, and this will allow all of your other expenditures to continue unimpeded.
Next, there are various options when it comes to the specifics of a finance plan. Personal Contract Purchase (PCP), Personal Contract Hire (PCH), Personal Loan (PL) and Hire Purchase (HP) are the four main plans, and each has their own specific pros and cons. Some require a deposit, while others do not provide you will full ownership of the vehicle even after all of the payments have been made. We have covered all of these in great detail in the past if you wish to read up on each plan, but needless to say, there are plenty of options for you to consider when it comes to buying a car on finance.
Finally, there is also a much bigger range of vehicles available for you to consider buying thanks to finance. If you were paying cash, then it is possible that a lot of cars would simply be unaffordable. By going down the finance route, though, where monthly payments are staggered for anything between one and seven years, suddenly these cars become feasible for you to buy. You will be able to bring down the price further should you be willing to go for an older, more experienced version of a particular car. The upshot will be that a car which was out of the question if paying cash may just be the next vehicle that you add to your collection because you have decided to pay for it on a finance plan.
These are the main points that emphasis the positives of buying a new car on finance.
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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 quote, Apply today or Call us on 01925 230360.