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Car finance can help to make buying a car more affordable through a variety of different payment options. While you can always buy a vehicle outright, many UK motorists opt for car finance to help them better manage the purchase of their car. Car finance can give you more flexibility over your car purchase by spreading out payments across a set period of time.
If you’re looking to buy your dream car, Forces Compare can help – borrow from £3,000 to £150,000, with 12 to 18 month loans available. We’ve partnered with Quick Car Finance to help motorists find great deals on car finance options, with rates from just 8.9% and a range of credit scores considered.
Car finance refers to financial products that help motorists purchase a car. There are many different types of car finance available, helping to accommodate for a variety of circumstances concerning your budget, your credit history, and more.
Below is a list of some of the key features you can expect when finding car finance through Forces Compare:
Many motorists throughout the UK have been overcharged for their car finance and don’t even realise it. Through Forces Compare, you can find the best deals for you, regardless of the commission.
There are a variety of different car finance options available to choose from. Three of the main finance options for motorists are detailed below:
|Finance Option||How It Works||Deposit Required?|
|Hire Purchase (HP)||Borrowers make monthly repayments until they own the car outright.||Yes|
|Personal Contract Purchase (PCP)||Borrowers pay fixed monthly repayments after an initial deposit. At the end of the repayment period, borrowers can make a balloon payment to own the vehicle outright.||Yes (and optional balloon payment)|
|Personal Loan||Borrowers make repayments on this unsecured loan once an application is approved and the money is sent to the car dealer.||No|
As with any type of finance, borrowers will have to meet certain criteria in order to be eligible. When applying for car finance, it might help to have the following credentials:
While these qualities can certainly help to boost your chances of approval with car finance, those without some of these qualities may also be considered (for example those with bad credit).
Check your eligibility in under 5 minutes – enter a few details to get a no-obligation quote, where you’ll be provided with a list of the best car finance options based on your application.
Yes, you can – for borrowers who do not want to pay a deposit, you can part-exchange or commit to paying higher monthly payments.
Those wanting to trade in their old car for a new one can do so through our partners, lowering monthly fees as well as deposits, or knocking this off entirely.
Forces Compare are partnered with Quick Car Finance, who have 48 different finance tiers, providing customers with a whole host of options to choose from.
Applicants with a variety of different circumstances can find great deals on car finance options through Forces Compare with bad credit considered, no deposit and part exchange options available.
It’s free to apply, with no added fees, and once you’ve picked your vehicle it’ll undergo checks to ensure customers are getting the best deal.
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