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how to finance buying a car
I'm buying a car in the UK for only the second time as I lived overseas for many years. last time, i decided to pay outright for a second hand one but now need to look at finance. I am confused about the different sort of finance arrangements- monthly payments and then a lumpsum at end and the car is yours as opposed to monthly payments and car goes back to dealer/lender - so would appreciate some help. Also, is it better to go for a loan from dealer or from bank etc?
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Comments
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If you are going to use the loan for the full term then it is by far better to go to the banks and mainstream lenders, the rates will be conderably lower.
You can however get good discount on cars by taking the dealers loan option (they then get commission) and then settling early to avoid the heavy fees.
However YOU would need to read all the small print to ensure that they wont tie you in and you get hammered at all.Sealed pot challange no: 3390
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