car finance or bank loan?

northernrocknufc

Hiya

Looking to buy a new car in the next month or so. My current car has 6 months remaining car finance on it. What is the cheapest way of buying a new 1?

I understand that if i get a car on finance from the garage they add the outstanding finance onto new finance. Would this be the same if i got a bank loan?

MFWannabe

If you have a loan for the new car then you need to settle the outstanding amount left on the originial car finance. Ring the car finance company yourself and ask them how much will need to be paid to end it early. You then have the option to sell your car rather than part ex which you usually get more money for it this way
Personally i always prefer personal loan against car finance. With a personal loan you own the car but with car finance the finance company owns the car until you have paid it in full.