Buying a new or second hand is always an expensive business and unless you are one of the dying breed of motorists lucky enough to be a cash buyer, then how you finance your new purchase is going to be a major consideration.
So, what are your options?
Basically, you can look at the dealers own finance schemes (schemes in most cases, being the key word here!); by taking out a car loan from a loan provider or bank; or, by remortgaging.
Car dealer finance
With car dealership finance, there are many different types available. However, in most cases, they work out the most costly way to fund a new motor. This is because car dealers are in the middle men between you and the finance company who are offering the loan and while the money is changing hands, the car dealer likes to take his own little cut.
This will be reflected in the interest rate you are offered by the dealership, which will in most cases be bumped up from what the finance company are asking.
And if you see a 0% finance deal, while it will seem attractive to everyone, even those who could be cash buyer, you need to ask yourself why they are offering such a good deal. Is it...
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