Volvo Car Finance

Volvo Car Finance

Volvo Car Finance - General Information and Tips about Car Finance:
- 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.
- If you're planning to buy a new car, consider buying outside the peak car sales periods. This means avoiding the new number plate months in September and March when most new cars are sold and dealers often charge the full list price.
- If you have significant savings earning a low interest rate, consider making a large down payment or even paying for the car in cash. This could save you as much as several thousand dollars in finance charges.

Volvo Car Finance - Glossary of Terms:

The Term of a loan is simply the length of time the loan is repaid over, usually specified in months. So a loan over 4 years would have a term of 48 months.

Depreciation - This is an indication of how much your car loses value over a period of time.

A Debt Consolidation loan is a loan used to pay off some or all of your existing credit, making your finances easier to manage.

Interest Rates are how Lenders make money on your loan - they will charge a certain percentage of your outstanding loan, which will be added to the loan balance. Interest rates are usually quoted as the APR.

Your Credit File consists of details of your past and present financial activity and is held by companies known as Credit Reference Agencies.

Credit Score: Your credit score is a number that is used by lenders to decide whether to give you credit and at what cost. It is based on information in your credit report.

Volvo Car Finance guide.


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