Car Dealerships in Control?

When you go to buy a car where is the first place you visit? The web? A car dealership forecourt? A newspaper or magazine? The answer to this question doesn't really matter as they all amount to the same thing which is a car dealership who has the cars. There are other places you can buy a car but most people still use car dealers. This is not a bad thing as you are at least going to a place where they know all about cars and if you have any issues you know where to take it back to. But are Car Dealers the best people to talk to about finance?

When we decide we want a new car most people get all excited about the prospect and sometimes rush decisions, but when you are about to purchase the second most expensive item (on average) in a persons life after a house you should definitely think before you jump. Wouldn't you rather be in charge of how much you are borrowing and how much it will cost you?

If you go in to a car showroom it is in the sales persons interest to sell you the most expensive car they can which can make them the most amount of money. There goal is to make you but up to your limit or over it if they can. In that moment of excitement when you can see the car outside shining in the sun that extra £20 per month doesn't seem to bad.

What if you could be in charge instead? What if you planned your own finance and decided your own payments? Then you know exactly how much you will be paying and how much you can pay for a car. This allows you to choose a car and haggle with the dealer if wants a sale. Also you may get cheaper payments as there is no cut going to the car dealer.

There are many ways for you to arrange your own car finance from personal loans companies to your own bank. The other option is to get finance from a car finance broker which means you can get the cheapest quote from a panel of lenders and it will be a hire purchase agreement so you will have the benefits that come with that such as being able to hand back the car after half the payments have been made. Hire Purchase is also easy to obtain than a personal loan as it uses the vehicle as collateral.

Article Source: Tom Skilling

No comments:

Post a Comment