Archive for the ‘FinanceAcar News’ Category

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 ( 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.


2013 New Car Outlook by

Wednesday, December 19th, 2012

In 2012 over 2 million new cars will be sold in the UK, a total which exceeds 2011 and puts sales on a par with 2010 when car scrappage incentives were available. So what is the outlook for new car sales in 2013?

During 2012 those operating at the prestige end of the market have continued to trade well as have those, be it manufacturer, dealer group or car leasing companies that have been able to demonstrate value.


FinanceAcar launches

Tuesday, March 27th, 2012

We’ve been working hard to launch a totally new and innovative concept in the world of cars based on the daily deal/flash sale concept. It is now launched and we called it CarRush! Here is the press release that explains how we plan to change the way people buy cars online:

London, U.K., 26 March,, the world’s first dedicated group buying website for new cars, is launched today by FinanceAcar, providing exclusive, unbeatable and time limited deals with discounts of up to 40 per cent.

The new website aims to encourage more consumers to buy new cars by saving them thousands of pounds through unbeatable low monthly repayments. Its unique approach will hit a sweet spot for the 80 per cent of car buyers that purchase a new car based on a monthly payment. It makes cars that were once unaffordable, affordable.


Investors Back FinanceAcar

Wednesday, August 3rd, 2011

London, U.K., 3 August,, announced today that it had obtained investment from some impressive backers that believe in the company’s ability to ‘reinvent car buying’ for the 41% of people that want to buy a car end to end online (Capgemini X- Cars Online 10/11, Listening to the Voice of the Consumer). It is the world’s first online car marketplace where car buyers compare monthly prices for a new car from dealers and finance companies, configure their vehicle, apply for finance and, if approved, have it delivered to their door.

Investment was led by Anthemis Group (a specialist investor in companies that leverage technology to build innovative and disruptive financial businesses) which was joined by other investors such as Dominic Collins (former Group Director of and is now CEO of Orange Digital), Christoph Janz (builder of one of Europe’s first European price comparison websites) and several others.

Finance A Car seeks to reinvent car shopping for the 80% of people that buy a car based on a monthly finance budget (spending c. £14 billion/year in the UK). Founded by Mark Peatey and Nadim Saad who come from a background of launching websites such as and large comparison websites . Nadim Saad said, “Anthemis is the perfect investor for us. Their previous success as an investment group and their vision to play a big part in revolutionising consumer finance over the next decade is a big vote of confidence in our mission to reinvent car buying and car finance”.

Sean Park of Anthemis explained, “The car industry is one of the last offline bastions yet to offer a full online buying journey to the mass market. This is because people have always been forced to shop based on a list price even though as much as 80% of them actually want a monthly price based on finance. We were attracted to FinanceAcar because their technology and approach allows them to create a much more intuitive shopping experience. It provides buyers with the cheapest monthly price for the car that they want whilst also placing their car finance application with a provider most likely to approve them.”

Capgemini Reports 46% of New Car Buyers Want To Purchase Their Vehicle Online

Wednesday, March 2nd, 2011

U.K., 2 March 2011 – Recent research suggests that 46% of new car buyers want to buy their car online and have it delivered to their door. Car buyers have expressed a strong desire for a full end to end experience of comparing, shopping, arranging car finance, completing the transaction and getting the car delivered the same as they would for other ecommerce purchases.

Whilst a car is a big purchase, the online risks are substantially reduced for new cars by the combined effects of manufacturer warranties and distance selling regulations that provide between 7 – 14 days ‘cooling off’ during which a car can be returned. Based on this, some experts suggest that car buying over the internet could reach up to 400,000 cars (£5 billion) over the next 10 years.


FinanceAcar Appoints Car Finance Expert

Wednesday, October 27th, 2010

London, U.K., 26 October, 2010 – It was announced earlier today that Richard Bunn, former Director of Fleetline, a division of the world’s largest leasing company Leaseplan, has joined the management team of FinanceAcar (, the world’s first car finance comparison website. Previously, Bunn spent ten years with Ford Motor Company before joining Leaseplan as General Manager of Sales and Operations for Network. His experience of dealer finance and contract hire and leasing increases FinanceAcar’s already impressive management team that previously launched international comparison websites and hugely successful consumer websites such as ITV Television Network’s

On his decision to join FinanceAcar Bunn said “the present and future of vehicle finance for both personal and small business is most definitely online. By providing transparency, FinanceAcar’s comparison engine is attracting online car shoppers early in their buying cycle which is good news for manufacturers, dealers and leasing companies as it enables business and personal customers to make a quicker and more informed purchase decision. This coupled with the media and internet experience and the successful track record of the management team made this an easy decision for me”.

FinanceAcar fills an estimated £11.5 billion car finance comparison gap left by traditional comparison websites in the UK that only compare car finance prices based on car loans, which account for just 15% of the market according to recent research from Sainsbury Bank. It instantly compares all car finance options (car loans, hire purchase and car leasing) and enables consumers to quickly get the answer to: “What is the lowest monthly price I need to pay to drive the car that I want?”

Business Development Director, Nadim Saad added “An important part of our plan is to establish strong ties with our suppliers such as manufacturers, dealers and leasing companies to connect them with the most relevant car buyers who have already made a decision on their car and finance package. Therefore, we are very pleased to have Richard joining us as Sales Director where he can use his exceptional car finance experience to extend our relationships with suppliers and boost their sales.”

About FinanceAcar
FinanceAcar ( is a UK car finance specialist. Its new product was selected by Microsoft as its “startup of the day” and was selected by Seedcamp (one of Europe’s largest groups of tech investors) as one of the 10 winners from amongst 900 early stage European companies. Its product is the world’s first comparison engine that compares all car finance products for new cars (car leasing, contract hire, hire purchase and car loans) in one place making it comprehensive in car finance compared to other comparison engines that only compare car loans. The website compares finance from manufacturers, dealers and top UK lenders for 6,000 vehicles and offers more than 1,000,000 different prices. The site now allows car shoppers to choose their car by make or budget and within seconds it presents the best finance product and best monthly finance price for that car. FinanceAcar’s team and partners combine significant UK car finance experience with more than 30 years of blue chip media, internet and technology knowledge. They draw on experience from launching one of the UK’s largest websites ( and several international businesses.

Buying A Car? Don’t Settle For The First Price!

Friday, October 15th, 2010

Going through the car buying process can bring with it a mixture of excitement, enjoyment, annoyance and aggravation, as well as the fact that it’s likely to take you a lot longer than you thought it would, no matter how well prepared you are.

Whilst there are various factors that can affect the whole process, one of the most prominent is the cost of the vehicle.

Although it’s strongly recommended that you set yourself a budget before you go out looking for a car, this budget can go completely out of the window when you start looking. You might realise, for example, that the type of car you want isn’t available within your budget or.

Whatever category you fall into with your budget, there’s one thing you have to always, always got to remember – never agree to pay for the car with the first price that’s offered to you. And the simple reason behind this is that this will be the price which the dealership would like to sell the car for and not what they can sell the car for. The problem is that a lot of people are aware that car dealerships advertise their vehicles at a higher price and are willing to drop it if asked, but they just don’t know how to go about getting the best deal possible for the car. In fact, it was recently reported by Sainsbury Bank that 60% of British people don’t haggle on car price. If you’re one of these people, you have to ask yourself “what’s the worst thing that’s going to happen if you try and haggle?”. Are you worried that you won’t get the car at the price you want or that the car salesperson might become agitated and try to get you to buy the car at a price that you can’t afford or don’t want to pay?You’re certainly not going to get thrown out of the dealership and therefore it’s important that no matter how uncomfortable it makes you feel – it’s only going to be for 20 minutes – you need to barter with the salesperson to try and get the price down as low as possible.

If you’re not sure how low you could go, a good starting point is 20 percent lower than what the car is currently being offered for. Anything If the salesperson says they can’t sell it at anything under the stated price, you can simply walk away if you don’t want to pay the reduced price.

It’s worthwhile keeping in mind that you might be able to secure a better sale price if you utilise some car finance deals that the dealership is offering. This is because, the dealership is likely to make money through a commission paid by the finance company. .Therefore, they are often flexible and will mix and match cash and car finance.

Haggling is not something that everyone is comfortable with, but it’s absolutely imperative to securing the best car finance deal on the car that you’re looking at. If you’re not too happy with haggling, take a step outside of your comfort zone for a few minutes – you might feel awkward to start with, but you’ll soon be glad you did when you save yourself a lot of money on the cost of your new car.

The Various Purchase Options When Buying A Car

Monday, October 11th, 2010

Whenever the time comes to looking for a new car, one of the first thoughts you’ll have is not which car it is that you need, but how you’re actually going to afford it.

Often it is your circumstances that will determine how you finance your new purchase, but if you’re not entirely sure of the options that are available, take a look through the following 4 popular ways to purchase a new car.

1. Cash – no matter which way you look at it, if you can afford to pay cash for your car and you want to keep the car for a period greater than 5 years, this is almost always the best and most financially beneficial way to purchase a car.

Removing the various additional costs that you might incur if paying by other means, most notably the interest on any type of finance package you take out, paying by cash also means that the car is completely yours and there’s no chance that, for instance, a finance company can take it off you if you don’t keep up with payments.

2. Bank loan – a popular option for some, especially if they can secure a low rate loan with their own bank, bank loans are a good option if you’ve got a set amount of cash that you want to put down and / or have a set amount of time that you want to pay for the car over.

For example, if the car costs 20,000 pounds, you had 5,000 pounds to put down first and wanted to pay the car over 3 and a half years, this is all possible. However, there are different types of loans – secured loans and unsecured loans. A secured loan is one in which the bank will want the loan to attach to a physical asset such as the car that you are buying or your home. An unsecured loan is one that attaches to the person (not an asset) and these typically have limits of around 5,000 pounds but never more than 15,000 pounds. The difference between the two variations is that if you default on a secured loan the bank can repossess the asset (eg; the car, or force a sale on your house) whilst if you have an unsecured loan and default on it the bank will take action against you directly which could end in bankruptcy proceedings if you do not make the payments.
3. Car finance – one of the most common (65% of all car finance) and easiest options to choose when purchasing a car is to use the car finance package that the dealership offers.

The reason behind this is that it’s very often the option that is the most hassle fee and can be completed in a matter of minutes.

Compare the dealership’s car finance package to alternatives such as a bank loan, for example. Whilst you’d have to make an appointment at the bank, explain what it was that you’re wanting to buy, how much money you require and then waiting for the bank to make a decision and put the money into your account which could take several days, a dealership’s car finance package can be arranged after simply taking some basic financial details and then completed in less than 15 minutes.

4. Car leasing – something that was once restricted to business customers, car leasing has seen a resurgence in popularity in recent years, as more and more people are looking to upgrade their cars more regularly, because it can be as much as 50% cheaper than buying a car using loan finance. There are different types of car leasing with some forms such as personal contract purchase (PCP) allowing you to buy the car at the end of the lease contract.

The popularity of car leasing is also due to the fact that you can very often receive a car that you wouldn’t otherwise have been able to afford. You do need to take into consideration additional costs if you purchase a more expensive car than you normally would, such as insurance, tax and fuel, but generally speaking, car leasing can be a fantastic way to get the exact car you want and need.

FinanceAcar In The Press And New Partnerships

Thursday, September 9th, 2010

A lot has happened at FinanceAcar in the last month. With the new 2010 plates starting this month, and the fact that until FinanceAcar launched there was no way for people to compare car finance, the press gave us good coverage and we were featured in The Guardian, The Independent,, Metro,,, etc…

80% of people use finance to buy their new car and we want to help them get the best deal possible. Our tools empower car shoppers such as you to compare the ‘monthly price’ for the car they want rather than the ‘on the road’ price. In reality, for 4 out of 5 people owning/driving a car is based on a monthly cost over a specified period and whether or not they can afford that. The fact that we think of you, the consumer and your needs, and that we try to change the way things have been done traditionally has had a very positive response from the public and the press.

Also in the last month we have also partnered with some renowned car websites who have realised the value of the full car finance comparison service that we provide. You can now see us on one of the most established UK websites ExchangeAndMart. We are their exclusive partner to compare all Lease Deals.

We have also partnered with several “Owners Club” to provide their users with the most comprehensive comparison of car finance on the web! Check out Ford Leasing Deals on!