Financing your car
Loan
- From your bank.
- Most car dealerships will have their own finance deals.
- Other organisations such as the AA and the RAC also provide finance deals, which can be combined with their technical and mechanical checks on the car.
Hire purchase
- From car dealership. It involves making a deposit, followed by a number of monthly payments. The car is legally yours only after all the payments are made.
Leasing
- Involves monthly payments, under which you are in effect hiring the car for a fixed period.
- At the end of the term, you have the option to:- return the car with no further payments- enter into a new deal for a new (or second hand) car
– make a final “balloon” payment to buy the car for yourself.
- Leasing deals can sometimes include maintenance and breakdown cover in the monthly lease payment.
Further Information
Drivers and Vehicle Licensing Agency. This is the official government site all about licensing a vehicle, drivers licences, and personalised number plates.