Getting your hands on an affordable, flexible car finance deal can be tricky.
Where do you start with so many companies, agreement types, and cars available?
To make things a bit easier, here are the top 5 tips when shopping for car finance in Manchester.
1. Determine your budget
It’s important not to get over-excited when shopping around for new cars. While it may be tempting to get the best of the best, work out what you’re willing to spend each month so you have a clear idea of what’s available when you go to look at different models.
Make sure to factor in fuel, insurance, tax and other general maintenance too.
2. What are your needs?
Do you need enough seats and a good amount of boot space for weekend trips away?
Are you looking for a hybrid model?
Is a touchscreen infotainment system necessary?
Will you be driving around the city a lot and need a model that can keep up?
Whatever your needs, write them down, so you have a clearer idea of what you’re looking for. This won’t just make shopping easier but will stop you from getting side-tracked and coming home with an unsuitable car.
3. What finance type is more suited to you?
There are two main finance types available for cars:
Hire purchase (HP)
HP is when you owe the car when you make all your payments.
This is favoured by a lot of drivers because this agreement type generally comes with fixed monthly payments and no mileage restrictions. However, they often come with a higher total cost and higher monthly payments.
Personal contract purchase (PCP)
Unlike HP, PCP allows you to trade in the car for a different one at the end of your agreement, or pay a balloon payment to own the car at the end.
PCP often comes with lower monthly payments, the chance to try different cars regularly and the flexibility of owning the car at the end. However, they typically come with mileage restrictions and possible end-of-term charges for any damage or excess wear and tear.
4. How’s your credit score looking?
Your credit score will be looked at during your application, so it’s worth having a look over it before you apply.
If you have a less-than-perfect credit score, it could hold you back, with some companies charging you higher rates as a result, or denying your application altogether.
However, there are car finance in Manchester specialists that offer deals to those struggling to build their credit score, offering payment flexibility and competitive rates, giving you the chance to enjoy your favourite car without being held back by a low credit score.
5. Shop around for the best offer
When it comes to getting a car finance deal, it’s important to do your research and find a company that has your best interests at heart.
Concept Car Credit are experts when it comes to used car finance in Manchester and the surrounding areas. Their showroom is just half an hour’s drive away from the city centre and is packed full of cars for every preference.
From family favourites to impressive sports editions, you’ll have your pick of the bunch at Concept Car Credit.
They also have a no credit check policy – as long as you can make payments on time and in full, you’ll be able to drive off into the sunset at a price that suits you.
