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Car finance: the best way to get into your new wheels Published: 26.05.2009 | Author: pmcindoe | Category: Cars

Buying a car is probably the biggest financial decision you can make in life apart buying a house. It is not very often that people are able to afford a new car in one payment, so it is more than likely that you will consider car finance to come up with the necessary funds.

As with any financial commitment, if you are looking for car finance you鈥檒l need to do a bit of research before you sign any papers. The marketplace is very competitive, meaning you should shop around to make sure the deal you sign up to suits your individual circumstances.

There are two main ways to organise car finance 鈥?sourcing it directly from a dealership or seeking out an independent financial provider.

When you are in the dealership, and closing the deal on your new car, it is likely that the salesperson will ask you if you have arranged finance. Some salespeople in car dealerships are specifically trained in providing financing advice and they will be able to give you guidance on finance for your specific situation.

The downside of this is that car dealerships often only supply financing from one or two financial providers. This can make the choice and availability of finance deals limited. It is best to discuss the options with the car financing representative at the dealership, and then head home to do further research into other available finance deals. It may be that finance through the dealership is the best option for your circumstances, but it is still a good idea to shop around.

Surfing the internet for car finance is a quick and easy way to research the other options. Most car finance companies sell finance online and it can be quick and easy to get a quote. One point to take into consideration though, is that the online quote systems don鈥檛 always cover every circumstance. It鈥檚 necessary that you take the initial quote as an estimate and then speak directly to a customer service representative on the phone about your specific situation. There is often greater choice online and the deals can be great value as the finance provider doesn鈥檛 have to pay commission to a middle man, such as a car dealership.

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