Tuesday, 26 January 2016

What Loan Suits You Best?

Here is some information about the 3 basic car loans that you’ll see when you’re applying for car financing...
Personal Loan? - With no deposit required, the personal loan is the simplest loan of the lot - immediate ownership is granted to you once you’ve paid! Just remember that this type of loan can potentially be risky if you have no collateral to put up as security!  
Hire Purchase? - Hiring the car from your lender is a good option if you want to eventually own your car. With a deposit and with the car itself as a security, interest rates are much lower and monthly instalments possibly more manageable.
Dealer Finance? - Getting a quotation from your dealer has its pros and cons - rates may not be as competitive as the salespeople mark up interest rates to earn a commission for themselves!  The convenience is a plus though so if you don’t mind paying a little bit more for that...
Why not let The Smarter Finance Company help you compare the options? Call us today!

What Loan Suits You Best?