Finding Car Finance in Broughton in Furness

Are you looking for car finance in Broughton in Furness? If so, you've come to the right place! In this article, we'll explain the different types of car finance available, and how to find the best deals in the area.

Types of Car Finance

When it comes to car finance, there are two main options available: hire purchase and personal contract purchase (PCP).

• Hire purchase: With hire purchase, you make an initial deposit and then pay off the remaining cost of the car in monthly instalments. At the end of the agreement, the car is yours. This is a good option if you want to own the car outright.
• Personal contract purchase: With PCP, you make an initial deposit and then pay off the remaining cost of the car in monthly instalments. At the end of the agreement, you have the option to either buy the car outright or return it to the lender. This is a good option if you want the flexibility of being able to upgrade to a newer model at the end of the agreement.

Finding the Best Deals

When it comes to finding the best car finance deals in Broughton in Furness, it's important to shop around. You can start by visiting local car dealerships and asking about their finance options. It's also worth checking online car finance comparison sites, as this can help you to compare different deals and find the best one for you.

It's also important to consider the APR (annual percentage rate) of each deal. This is the amount of interest you'll pay on top of the cost of the car, so it's important to make sure you get the lowest APR possible.

Conclusion

Finding car finance in Broughton in Furness doesn't have to be difficult. By shopping around and comparing different deals, you can find the best option for you. Be sure to consider the APR of each deal, as this can make a big difference to the overall cost of the car.

Refused Car Finance in Broughton in Furness

Buying a car can be a stressful process, especially when you've been refused car finance. Unfortunately, this is a common occurrence in Broughton in Furness, and it can be difficult to know what to do next. This article will provide advice on how to get approved for car finance in Broughton in Furness, even if you've been refused before.

Check Your Credit Score

The first step is to check your credit score. This is a number that lenders use to determine whether or not they should approve you for a loan. If your credit score is low, you may be refused car finance. You can check your credit score for free online, and if it's low, you can take steps to improve it.

Shop Around for Lenders

Once you've checked your credit score, it's important to shop around for lenders. Different lenders have different criteria for approving car loans, so it's important to find one that is willing to work with you. You can do this by researching lenders online, or by asking friends and family for recommendations.

Get a Co-Signer

If you're still having trouble getting approved for car finance, you may want to consider getting a co-signer. A co-signer is someone who agrees to take responsibility for the loan if you're unable to pay it back. This can help you get approved for car finance, as the lender will be more likely to approve you if there is someone else responsible for the loan.

Consider Alternative Lenders

If traditional lenders are still refusing to approve you for car finance, you may want to consider alternative lenders. These lenders are often more willing to take on higher-risk borrowers, and they may be more willing to approve you for a loan. However, it's important to be aware that alternative lenders may charge higher interest rates.

Conclusion

Getting approved for car finance in Broughton in Furness can be a challenge, especially if you've been refused before. However, by following the advice in this article, you should be able to find a lender that is willing to work with you. Good luck!