I need the best deal from a car finance company. I have been on debt management for a year, as i did not want to miss payments. I work full-time and can afford finance now.
Tags: car, car finance, company, deal, debt, debt management, Finance, finance company, full time, management, need, programme, Should
Why not buy a bike/scooter and your full time job can help pay off your debt.
I suggest you find your nearest credit union and ask them about the benefits of membership. You need to join and start saving with them regularly before you can apply for a loan, but getting that loan is virtually assured. Interest rates are usually better than the bank, and they try to keep repayments close to the level you were saving, as they know you were able to pay in this much without hardship. Loans need to be repaid within 5 years. Credit unions work for the benefit of their members, and being on a debt management programme should not be a deterrent as long as you have enough money to manage. They also don’t charge monthly or penalty fees, and if something unexpected happens to make a repayment difficult, they are a lot more approachable than other finance places.
In my credit union, car loans are 6%, loans for home improvements are 8% and other loans are 10%. Each credit union is independent and they each set their own guidelines, so where you are, it could be different. As a member you are also a shareholder, and a dividend is paid annually, from the profits. Last year my credit union had a good year, and borrowers were given an extra rebate. When did your bank last give you money back because they had made profits?
Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool – carquotes.fateback.com
You are best checking out a money comparison site so you can weigh up the best deal.
The Money Express offer a good deal, go check the site out – http://www.themoneyexpress.co.uk
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