Choose your car carefully
The type of car you will be driving will influence what you pay each month. Previous owners having taken the hit on depreciation over the first couple of years are often a much more affordable option . The cheaper the car, the less finance required and in turn the less the monthly premiums.
Put down a bigger deposit
With interest rates rising putting a good deposit down on your car will make a big difference to your monthly payment. The larger the initial deposit on your car, the lower the monthly premiums will be.
Pay as much as you can afford on monthly
Car finance can be organized for anything from 12 months to 5 years. The lower the period you choose, the more your monthly payment. However be careful to compare your total payment over the duration of the deal for different payment periods. To dramatically reduce paying off your car quickly is sure to reduce your total spend.
Look out for extras
Make sure the finance consultant fully explains what you’re getting and what each item costs, as often car finance deals include a host of other products.
Ask about penalties
Make sure there are no penalties for paying your used car loan off early – Please Pay careful attention to the terms of your loan application.
* All prices are subject to change without notice.
* An enquiry does not constitute a quotation.