Car finance options
There are all sorts of ways you can raise the funds to pay for a car, with some better than others. Here we’ll help you through the maze, but there’s one thing to remember above all else: it’s the final cost that matters. This will depend on: How much you borrow The monthly payments and any additional payments at the end or start of the deal The interest rate you’re paying and the repayment period Any penalties you’ll incur if you pay off the loan early Before you sign anything ask what the total amount repayable will be, then compare this figure when shopping around. It’s this figure that matters ultimately, unless you’re more concerned with how long you have to pay off the debt rather than how much it’ll cost you. By spreading out the loan over a longer period your repayments will be lower, but you’ll pay more for the privilege.