Is Buying a Car on Finance Right for you?
Buying a car on finance now seems to be much more popular than just buying a car outright. This is perhaps because of the rising prices of cars but it could also be to do with the fact that it is easier to buy your dream car than ever before. Are there any catches though? Here are two of the most important points to think about:
- There are many different types of finance deal. Make sure you understand your thoroughly. Some will see you owning your car at the end and others will require a large payment if you want to keep and own the vehicle.
- Is it worth paying over the odds for the car you want? A finance deal will ultimately result in you paying more than the car’s market value. Would it be more beneficial for you to just buy a cheaper vehicle outright and have more bargaining power when you want a new one?