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A Guide to Finding the Right Car Finance Company

So you've decided to buy your next vehicle with car finance? Good times, right? But you may be wondering how to find the right car finance company. After all, there are so many that it can feel a little daunting knowing where to look, let alone settle on a company. Worry not, though. This guide aims to cover everything you need to know about finding the right car finance company. Read on and become a pro so you can buy your new motor with confidence.

How Do I Compare Car Finance Companies?

There are loads of car finances companies out there, and finding the right one can be tricky. Ultimately, you want to settle on a lender offering competitive interest rates and a deal that you can comfortably afford. Start by looking on comparison websites. You can compare lots of different lenders and get a better idea of their monthly payments for the amount you'd like to borrow. This will give you more insight into which lender offers the best deal for your car finance needs. It's also important to do your research and look closely at the details of the arrangement, such as the total cost of getting car finance and the length of the agreement. Sure, the monthly price is important, but sometimes you need to look at the bigger picture. One lender may have higher monthly repayments compared to the other, but the total cost of the agreement is indeed cheaper. Look at the fine details when comparing car finance companies.  Lastly, take your time and don't rush into anything – weigh in on the advantages and disadvantages of each lender before deciding. Look at the overall length of the contract, the APRC cost, late payment charges and anything else related to the terms and conditions of the loan agreement. 

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Car Finance Companies Near Me

Like keeping it local when it comes to finding a car finance company? Local banks and dealerships offer direct loans, and you can head to the nearest high-street branch to see the deals on offer. This can be more convenient than using a bank where you need to travel a considerable distance. Yet, car finance companies near you aren't the only options. Indeed, you limit options by only going with a local lender. In today's world, most things – including car finance – occur online, and there are loads of great deals out there waiting on the world wide web. Online lenders are becoming increasingly common and often provide a smooth experience than going to your local bank or dealership. Regardless of where you get car finance from, there are some factors to look out for. These include finding a competitive interest rate so you keep monthly repayments down, considering shorter loans so you pay the amount off faster, the documentation needed to get car finance, and ensuring that your credit score is in order. Car finance deals will be more favourable if you have an excellent to good credit score.These are the most important aspects of getting car finance, no matter the location of the lender offering you a deal.

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Are Car Finance Companies Open on Sundays?

Sunday, Monday, happy days, right? Well, not if you want to get car finance and the lender is closed for business. Professionals tend to be busy during the week. And if the dealership or bank is closed on Sunday, it only leaves you with Saturday to sort out your car finance. Fortunately, these days, many banks and dealerships are open on Sundays, meaning you can get finance throughout the entire week and enjoy more flexibility when it comes to sorting out car finance. Of course, if you use an online lender, you can apply for car finance whenever you like as they never close. So whether it's 1 pm on a Monday, 4 am on a Wednesday, or 10 am on a Sunday, you can apply. Ideally, you want to use a company that's always open and has clear instructions about its process. This makes everything all the more transparent and gives you the flexibility needed when you apply for finance.

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What is Excellent Customer Service from Car Finance Companies?

Car finance is there to help you, not the other way round. Five-star car finance providers understand the emotions that come with buying a car, no matter your reason for getting a new vehicle. From the minute you get in touch with a provider, their customer service skills should kick in. The service should also be safe and secure, and, just like how you want to feel safe while driving, you'll also want to feel secure when taking out car finance. Financial freedom is important, too, and you should aim to find a lender offering flexibility over payments. How does that work? Look out for things like having the ability to pay off the loan early or changing your monthly payment amount to fit with your budget. And remember: good customer service is always being available, whether it's using the online chat function, sending an email or picking up the phone. If you have questions, they should always be answered quickly. At the end of the day, it's all about the service.

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