Car Finance

2. Where to Buy

First decide what car (or cars) you want to buy and where to get it. Then choose the sort of finance you want.

Most sellers will arrange finance. If you do not like their terms, you may have to go elsewhere.

2.1 Buying new from the manufacturer.

• Unless you are buying cars in serious numbers (hundreds, or even thousands), manufacturers will not deal direct.They will recommend your nearest authorised dealer, and may provide finance.
• You may be able to get good terms on a model the manufacturer wants to shift.This is fine if it suits your needs (see box). But remember, such models may have been sitting around for some time waiting to be sold.

2.2 Buying new or second-hand from a dealer.

• Most cars are sold through dealers, and most dealers have access to finance from a variety of sources.
• Authorised dealers may have access to finance on favourable terms from the manufacturers.
• Choosing the right dealer will be critical to the success of the deal.

2.3 Buying second-hand from a private seller.

• This is not a good idea if you want finance.Most finance companies are reluctant to get involved in private deals, as there is no warranty or comeback if the car is a dud.