Car Discount Finance

Car Discount Finance

Car Discount Finance - General Info and Tips about Car Finance:
- Organise your own finance. Pay by cash, or organise a personal loan yourself. Don't use manufacturer or dealer finance.
- An unsecured loan is aimed at people who do not have any collateral to take out a secured loan. Therefore an unsecured loan is perfect if you do not own your home. With an unsecured loan you can borrow between �1,000 and �25,000.
- When applying for a car loan, your income and financial commitment details are collated to determine a credit rating to see whether or not you can afford to take on the Loan.
- Many lenders specialize in loans to individuals with bad credit, so you might be able to get a loan even if you have declared bankruptcy or have county court judgements against you in the past.

Car Discount Finance - Glossary of Terms:

Equity - This is the difference between the value of your car and what you have left to pay off the loan.

Hire purchase, commonly known as HP, is a tried and trusted way to buy a car on credit - especially if the value of the car is higher than most personal loan limits.

An interest rate is the amount charged for a loan. It is usually expressed as a percentage of the loan amount that is charged on an annual basis.

Total Charge for Credit - This is the full amount that you will be required to pay. It includes the loan amount advanced, interest chargeable plus any administrative fees and costs, as well as any insurance costs.

Personal Contract Purchase is a type of leasehold arrangement offered by car dealers on high value new or nearly new cars. You pay a deposit and agree a figure of what the car will be worth at the end of a period.

Unsecured personal loans are offered by lending institutions such as banks and building societies and are so called because the lender requires no security for the debt.

Car Discount Finance resource.


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