A car is not just a transporting machine, it is much more that that. And hence we develop an affinity for it for reasons one or another. So if you plan to buy a car or just swap a newer one with that good old car of yourself. And you don’t have enough money for it then there are numerous financial institutions to help you realize your wishes. A car purchase loan as the name suggests is the amount you avail from lenders for buying a car.

You can enjoy many attractive benefits by just affording a monthly installment which is too customer friendly. Attractive benefits like discount of 30% on selected models, full servicing and maintenance options, offering driver assistance, tyre replacements and delivery of travel documents to your home nation wide are in offering.

Car purchase loans: Process To ease your burden, companies are providing every thing online wherein you can manage the procurement of your loans with few clicks. Privacy is guaranteed as your personal information is encrypted to prevent it from being accessed. if you satisfy the eligibility criteria the company forwards the documents to the nearest branch from you where you can clinch the deal. It is not everyday that you purchase a car...So proper ground work and prior knowledge of the mechanisms would do you a world of good.

Car purchase loans: amounts You can borrow from £5000 for the purpose of buying a new car or a used motor vehicle up to 5 years old.

Car purchase loans: repayments There is a very flexible procedure for paying back your finance .This totally depends upon you that whether you will pay off quickly or stretch it over longer periods .Terms range from 12 months to 60 months. The lenders are sincere enough and they take care of depreciation value by providing you with a “Guaranteed future deposit” .This depends upon the make model ,your annual mileage and how long you wish it to use. This amount is deducted from the car price and your monthly installments become low. There is no acceptance fee as it is included in the first monthly installments. If the APR (annual percentage rate) is 0% the customer must only pay what he has borrowed with no additional amounts, whether it is interest or fees. There is no hidden cost.

There are three great options available to you at the end of contract: You can simply choose another car that you like. Pay the optional final payment and the car is yours Simply return the car owing nothing. The choice is yours and you don’t have to wait until the end of contract.

Car purchase loans: things you must know All the cars are considered as brand new unless stated hence full manufacturers warranties are offered.. If you have your own source to which you can negotiate you can still get financed. You can finance a used car too but from a franchise dealer and not from private dealer. You can settle the agreement at any stage and you can change to a new car within one year of agreement