BEFORE GETTING CAR FINANCE

www.glensidefinance.co.uk

THINGS TO CONSIDER

So you’ve decided to get a car on finance – good choice.

But now comes the difficult task of working a new car into your budget.

The temptation to spend that bit extra is huge, you always want bigger and faster. But before you sign away half of your salary it’s important to be aware of how these costs are calculated. Here are some things to bear in mind and

tips for getting the best deal.

Insurance

Your postcode is used to determine both tax and car or van insurance

Rural and low crime areas are cheaper

Trade In & Cash Deposit Shop around before you include

your current car as part of your finance package as you may be able to get a better deal

The more cash you can contribute the less you will be borrowing which reduces your instalments

Duration & Fees Your total loan term has a

significant effect on your total repayments. While a longer term may reduce your monthly outgoings, the cumulative total after interest will be much higher.

Most finance companies charge administration fees – be sure to ask about these upfront before you sign anything

Fuel Economy & Reliability Calculate your average mileage. Consider the

average mile per gallon (MPG) of the vehicle and factor over three or four years. Consider rising living costs, potential job loss and any other circumstances that could cause financial problems.

Reliability – again, if your deal is long term, the reliability of the manufacturer will become increasingly important as your car gets older, be sure to ask around and read reviews.

When considering Car Finance, remember that your car should be something that you enjoy, not a source of stress. A little bit of number crunching now could save

you hundreds in the long term and keep you from worrying about making repayments.

Bad Credit Car Finance Specialistswww.glensidefinance.co.uk