The growing availability of car finance opens up the option to drive a car which may otherwise have been out of your budget.
But, how exactly can you do it?
It is more likely than not that financing a car will be one of the options available to you when buying your next car.
If you are not one of the 60% who already pays monthly for their vehicle, rather than a hefty lump sum, here’s how car finance works. And here we explain the method you could be using to acquire your next set of wheels.
What is car finance?
With gym memberships to food supplies, it has now become common practice to many of us to make monthly direct debit payments in return for a repeat product or service. This quite simply is the same way financing a car works. A car company, such as Hippo Motor Finance will supply you with a vehicle of your choice. You’d then make monthly instalments for as long as you have that car. Simple?
How long is a car finance agreement?
Most long-term car finance deals are over a period of two to four years, an option which is fitting for most motorists. However, newly introduced short-term leases also give you the option of having a 3, 6, 9 or 12 months agreement length – a flexible solution for those who may need a vehicle in the interim of awaiting a factory order vehicle being built or just looking for more flexibility and less commitment.
What deposit options are available?
Many car lease and finance deals require an initial payment at the start of the agreement, restricting those who may not be able to afford one. Both personal and business lease agreements offered by Hippo Motor Finance have a wide range of deposit options available, including no and small deposit options. Higher deposit options are also available to reduce monthly payments.
Which cars are available to finance?
Hippo offers an extensive range of vehicles including – new cars, used cars, city cars, family cars, prestige cars etc. If the vehicle you are interested in is not available, we may also be able to source the vehicle of the spec or colour you would like.
How can I apply for car finance at Hippo Motor Finance?
A choice of hundreds of car finance companies, many with competitive prices and a wide selection of vehicles, can often have you spoilt for choice. We offer a tailored journey, a journey where we will consider and take care of your every need, no matter how small or big. No matter how easy or difficult.
The first step would be to inform us off of your interest by filling in the short enquiry form. From initial enquiry, one of our account managers will guide you through each step of the process – starting with finance approval, all the way through to arranging delivery.
We expect more than 51% of our customers to achieve this rate.
|Loan Amount||Total Cost of Credit||Representative APR||48 Monthly Payments||Deposit Amount||Loan Term||Total Amount Payable|
|£7,500||£3019.16||19.1% APR||£219.77||£0||48 Months||£10,519.16|
We are a broker not a lender and our registered office is Trident Park, Trident Way, Blackburn BB1 3NU. Our contact number is 01254 919000