Archive for the ‘Best Car Finance Deals’ Category

Knowledge Is Power; Take Time to Understand Your Finance Options

Thursday, March 14th, 2013

For many people who have a requirement to finance cars, the whole process comes as something of an afterthought. They will certainly spend time selecting the make and model of car they prefer, maybe even taking a few out for a test drive. Of course, there is absolutely nothing wrong with that. A car is a major financial commitment and it is one the largest transactions most people ever get involved in. It is also something of a personal statement. A car says quite a lot about who you are and what your aspirations are.
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To HP or Not? That is the Question

Thursday, March 7th, 2013

Hire purchase cars are a common sight on our roads. In fact, for a long time hire purchase (HP) was probably the most common way to finance new car purchases. Typically, the dealer or manufacturer would offer the finance package directly to the customer. This arrangement does have some benefits. The finance can usually be arranged reasonably quickly and the customer does not have to go to the bank. It can be agreed more easily than a personal loan too, as the finance company retains ownership of the vehicle and will simply take it back if payments are not kept up.
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Tune Up a Finance Deal on Your New Car

Friday, March 1st, 2013

When it comes to choosing a new car, there are always going to be many models which suit your needs. There are many excellent superminis, MPVs, luxury saloons and sports cars. Indeed, every niche will have you scratching your head and wondering which car is the best choice.

There are also many ways to pay for your vehicle and new car finance deals can also cause you a bit of trouble. Which is better — a personal loan, hire purchase or leasing? Each finance product has its pros and cons.
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Polish Up Your Knowledge of Car Finance

Friday, February 22nd, 2013

Everyone knows that we are in a tight economy just now. Banks continue to be less willing to lend than before and there is perhaps a even greater focus on more careful lending. It is not just individuals who are feeling these tighter criteria. Car dealers themselves are less able to obtain easy credit deals and so the deals they can offer customers are perhaps not quite as good as they have been in the past. This makes it even more important to make sure you find the best car finance deals around.
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70% of New Cars are Bought with Finance, Are You Prepared?

Wednesday, January 2nd, 2013

If you are planning on buying a new car in 2013 it is very likely you will be taking advantage of consumer car finance to fund the purchase. Data released by the Finance and Leasing Association (http://www.fla.org.uk) for October 2012 showed 70% of new cars bought in UK dealerships by private car buyers were part or wholly funded through car finance. With 1 million new cars set to be sold to retail customers in 2013 that is an awful lot of car finance!

Given the importance of car finance it is vital UK consumers fully consider their options including car leasing, hire purchase and car loan. Being clear on what you can realistically afford before starting your search for that perfect vehicle reduces the risk of disappointment when you do find the car you want.

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When Is It Best To Buy A New Car?

Monday, November 22nd, 2010

Whilst there are two peak periods in a year when new car buying activity really takes off (ie; March and September), there are five periods in the ‘car buying calendar’ that car shoppers should consider if they are planning to buy a car. There are five periods across the year that car shoppers should consider.

1. Last week of the month – OK, so this might be 12 separate times throughout the year rather than just the one, but this is often a good time to find a good deal. The reason for this is that dealers and salespeople have monthly and quarterly targets and these are based on volume, so they want to move volume. Even better, if you manage to find a dealer that is close to their target then you might get a very good deal indeed!

2. First two weeks in January – After the expense of the fun and frivolities of the Christmas period, as is the case with the slow down that occurs within the summer, spending by the general public grinds to a halt! This is why many high street stores run their January sales so that they can get rid of overstock and to also stimulate shopping. Car sales are no different. There can be some real bargains in early January. Therefore, if you can plan and put money aside throughout the year and then go out in early January to look for a car, the salespeople will not only give you more attention as there are less people buying cars in general, but you’re also likely to receive greater discounts as the dealer

3. End of February – new registration plates are brought out twice a year and prior to the release of the new plates dealers up and down the country try to sell as many cars as possible to obtain their bonuses from manufacturers for selling a certain number of cars and also to make way for new the cars with the first of two periods is 1 March 2010. This means that the month of February is a good time for buying new cars.

4. End of August – this is even bigger month for car sales than March because it is when the manufacturers issue the new models alongside the new car registration plates. Consequently, dealers are keen to move the older models that have an older plate. This is especially the case with models that are being discontinued. In such cases the dealers are very keen to get rid of them and will sometimes offer great deals. The great deals might be off the ‘On the road price’ or in the form of cheap monthly car finance packages. This car finance might be in the form of car leasing or hire purchase.

5. Summer – when the warm weather and school holidays arrive, people spend less on retail and this is the same with car buying. People are too busy spending money on holidays and want to enjoy their breaks and the number of people walking into forecourts drops significantly. Consequently, like the retailers dealerships often run specials promotions in the form of car leasing, free road tax and servicing and other offers. Therefore, the summer can be a good time to buy.

What’s The Best Way To Buy A New Car?

Tuesday, October 19th, 2010

Whenever you go to buy a car, it’s important that you have an idea in mind of how you’re going to finance the purchase.

You might be looking to go for a full cash deal; you might have a bank loan already in place to utilise or you could be looking at an option direct from a dealer using car finance such as car leasing, hire purchase or a loan. The problem for a lot of people is that they don’t actually know what options they have available to them, generally because they automatically assume they’re going to be using just one option or they’ve only got one option available to them.

Therefore, if they don’t know what their options are, how can they be sure that they’re choosing the most suitable one for them?

Whether you’re in the process of looking for a car at the moment or you simply want to know which avenues you can go down when you do decide to purchase a new car, there are two main points to keep in mind to help you work out the best way to obtain a new car.

1. Determine your budget – Can you buy the new car outright or will you need to use car finance? If you need to use car finance what is your monthly budget?

2. Work out how long you want the car for – some people love to have brand new cars, exchanging their car for a newly registered model once every 2 – 3 years. Other people prefer to keep their car for between 5 and 10 years, ensuring that they get the most from their money.

If the new car that you are looking at is within your budget and not expensive, and you have the cash and you want to keep it for longer than 5 years then using 100% cash is the attractive route.

Conversely, if the new car that you are seeking is an expensive, upmarket vehicle that you don’t have enough cash to buy it outright then you will need to use car finance. If you want to own the car and keep it for longer than 5 years then it is best to use a loan or hire purchase. If you want to change it in 3 – 5 years then car leasing is the best option as it can be up to 50% cheaper than a loan or hire purchase.

Therefore, it’s important that you keep the length of time in mind when looking at finance options.

There are websites that help you make comparisons on car finance based on the cheapest monthly price. These websites reveal that if you’re looking at keeping the car for 5 years or more, it could be worthwhile paying for it with some type of loan or finance agreement over a 60 month period (assuming a cash purchase isn’t possible). Should you only be looking to keep it for less than 5 years comparison websites will reveal that a car lease agreement might be the better option, as although you don’t own the car outright, you can trade it back in for a new model after the leasing period has finished.

There are various ways to buy a car and not all will be suitable for you. However, rather than just opting for what seems to be the most common route, consider your needs and take a look at what’s available and you might be pleasantly surprised.

Nissan Qashqai Special – Leasing Deals from £165.00 per month (Excl VAT)

Friday, July 30th, 2010

Originally British designed and built, yet named after the nomadic Qashqai tribe in Iran, the Nissan Qashqai is a very popular vehicle in the UK with approximately 35,000 sold in the UK last year.  It is a top 5 seller in the competitive category of lower medium cars alongside Ford Focus and Vauxhall Astra.  It’s competitively priced at around £15,395 (or £165.00 per month (excl VAT)) and has a sleek look and feel. What Car? says it is “a brilliant family car because it’s roomy, comfortable, refined and affordable to run. The king-of-the-road driving position is another plus point, and standard equipment is good.” 

It is styled to cater to those buyers who want a more dynamic design, but are not attracted to the large, aggressive nature of a sport utility vehicle.  Top Gear says “Nissan’s designer and engineers can tick their boxes. They’ve met the brief – the Qashqai looks a bit like an SUV, drives a lot like a car. It actually works quite well. Space is excellent, with the Qashqai offering plenty of head and legroom throughout the cabin. The rear bench is wide enough to carry three. At 410 litres, the boot is big for a car in the C-sector (the Focus manages 385 litres).” 

Be sure to check out our fantastic car leasing special for four year deals on Nissan Qashqai Hatchback 1.6 Visia 5Dr.  For a 48 month contract hire deal you could drive this car for just £165.00 (excl VAT) per month. Alternatively, for personal leasing you could drive this car for £205.00 (per month (incl VAT) using personal contract hire leasing.  Check our Nissan Qashqai Hatchback special now.

Comparing Car Leasing Deals, Six Top Tips – Part 2 of “How to Get the Best Car Finance Deals”

Wednesday, March 17th, 2010

The car shopping process takes 6 months from start to finish for the average car shopper. Interestingly, 95% of this time is spent on comparing car make, car specifications and ‘On The Road’ price. This means that on average only 5% of the 6 months of car shopping time is spent looking at how to finance a car. Ironically, if people spend more time comparing finance prices, they can save thousands of pounds on the cost of their car.

In part 1 of “Get the Best Car Finance Deal“, I provided three key factors to be considered when deciding between car leasing vs car buying. However, the comparison does not stop there!! If a car shopper decides to opt for car leasing, then there are a few key tips that he or she must consider when comparing leasing deals for a contract car.

If we take the example of two car leasing products (Contract Hire – for businesses, Personal Contract Hire – for individuals), when a car shopper is comparing prices, it is not just the monthly payment for the lease that should be considered as the key driver of the best deal. Sure, this is important but you need to ensure that you are comparing like with like. Therefore, to get the best contract hire deal for his or her contract car, a person MUST also:

1. Ensure that the vehicle specifications are exactly the same. It goes without saying, but, some dealers or brokers have access to great deals and they may try to sell you a different car spec for the make and model that you thought you wanted and for which you have already obtained a quote;

2. be sure that the contract period (eg; 36 months) for each lease deal that you are comparing is the same;

3. ensure that the mileage for each lease deal that you are comparing is the same (and the cost of excess mileage);

4. ensure that the upfront payment (deposit) for the contract car is the same for each deal that you are comparing. This is usually 3, 4 or 6 months;

5. ensure that all quoted prices for monthly payment either:
a. include maintenance; or,
b. do not include maintenance;

6. ask if there are any fees in addition to the monthly fee and upfront payment (sometimes called introduction fee or credit acceptance fee).

You can obtain a comparison of all car finance products based on all of the above by using FinanceAcar.

Car Leasing vs Car Buying – Part 1 of “How to Get the Best Car Finance Deals”

Monday, March 15th, 2010

There are some important misconceptions about car leasing and in this Part 1 of a series of articles on ’Getting the best car finance deal’ I have detailed three critical reasons to consider car leasing when looking to finance a new car.

1. Avoid Depreciation
Owning a car is very different to owning property because property has a good probability of increasing in price. According to the AA, after 3 years the average car will have lost around 60% of its value. Most car shoppers ( including small businesses) fail to grasp this key fact and unless they want to ‘write off’ depreciation for tax purposes, if a good leasing deal can be obtained, it most often better not to own a car.

2. Save Time
Additionally, most people tend to replace their car every 3 to 4 years, which includes an important cost in time and money to dispose of it before spending an average of 6 months to buy a new one. Based on these two facts, it is usually more interesting to lease a car rather than buy it outright or a take on a personal loan to acquire it.

3. Optimise Your Chance of a Good Deal
Another important reason to consider leasing a contract car instead of buying is because with a car lease (in particular Contract Hire or Personal Contract Hire), dealers often have the flexibility to give greater discounts off the total price of the car than if they were selling the car. This is because car manufacturers put a minimum price for the ‘On The Road’ price that a dealer can sell a car to protect the used car market. However, with leasing a dealer doesn’t have this restriction because the ‘On The Road’ price is not a part of the transaction and this allows them the flexibility to give additional discounts that they wouldn’t normally be authorised to do.

For the above reasons, it is important to always compare the different financing options available and compare prices from the different dealers and finance companies. You can visit FinanceAcar to compare prices between leasing and buying.