Time4leasing in associate with Cars2lease take the
pain out of paying for your next car.
This information is based on an article
published by Driving, The Sunday Times specialist motoring magazine.
The
car finance deals, prices and information that is published in the Driving
magazine is correct at the time of going to press and is valid nationwide in the UK.
Before making any commitment all new car
buyers should always check the terms and conditions with their dealers, car
lease brokers, lenders (car lease funders) and the manufacturers.
These are the basics that motorists need
to know when considering how to pay for their new car.
Car buyers who are not reliant
specifically on a bank loan or a finance scheme from a high street bank,
trust, organisation,
or a car dealer should not focus only on getting the best possible value
for money from the supplying dealer. That means you can defiantly haggle
with them.
Finance-free shoppers
One way to get the price down is to visit various dealers and
play off one another. However, this is a costly affair driving around from one
car showroom to another. You could save time and money by using
instead the internet and requesting a free quote. This triggers
systems to dig into the nationwide car leasing databases to short list
the best car deals, saving you time and money.
Do you need a loan to finance your car?
Never take a loan unless you have done
your homework first. You should always compare unsecured personal loans
from a high street lender with a secured loan from the same lender or
loans offered from car manufacturers and their salesmen.
When looking
for a loan, most times online dealers that we partner with are able to
secure better terms than your average high street lenders, because of
their high volume of business and because they secure finance against an
asset which in this case is the car. This means the car could be
repossessed should you fail to meet the monthly repayments. However in
most cases repossession cannot be executed if the lease period has
reached half way
into the contract.
Personal Contract Purchase (PCP)
This has to be the most popular way to
finance the purchase of a new or newly new car (in the industry they are
called ex demo cars), PCP loans
lower the cost over the chosen contract period by deferring payment for
part of the car's value until the end of the term.
They require an
initial deposit from the buyer; as an incentive to stimulate sales, many
manufacturers and car dealers will top up or pay part of this deposit.
PCP schemes bring with them an agreed annual mileage restriction,
monthly repayments (the car could be repossessed if they are not met),
an annual rate of interest on the loan and payment of a final balance to
own the car outright.
If you don't want to make the final payment
(this is called balloon payment), you
can hand the car back to the dealer and pay nothing or use any remaining
value in the car for a deposit on another new or nearly new car,
fuelling the engine of the car industry. Some dealers can vary the APR
terms of a PCP deal, but manufacturer led are often fixed.
Hire Purchase (HP)
Motorists who are sure they want to own
their new or nearly new car outright may prefer to use hire-purchase
finance.
This can be arranged by the car manufacturer or better still
the car dealer or lease broker, so be sure to compare interest rates and the total sum to be
repaid before signing any contract.
After a deposit is paid, the
outstanding balance is divided into monthly repayments over a period to
be agreed between you and the dealer/funder. Once the final repayment
has been made, the car is all your; until then it can be repossessed.
How ever you are planning to pay for your
car, we can help you take the burden out of heavy research, so to get you that low down
price that you are looking.
What are the terms and conditions?
This no deposit car leasing section contains a
selection of personal leasing offers for private individuals who are not
required to pay any initial payment but are required to keep the car for
a minimum of 24, 36 or 48 months depending on the deal.
All prices are fully inclusive but may contain
additional fees such as delivery or documentation charges and are based
on 6,000 or 10,000 miles per annum allowance. Some deals come with
extended miles for 15,000 or even 20,000 miles per year. So make sure
you know how many miles you are allowed to clock on the car.
Unless otherwise stated, all vehicles are brand new or
nearly new which the car industry calls them ex demo cars and in most cases come with
12 months road tax and have full manufacturers warranty. These cars do
not need MOT.
Whilst time4leasing endeavour to ensure all
specifications and details are accurate, we would highly advise all our
customers to confirm all vehicle specifications via the relevant
manufacturers website.
All personal leasing offers in the ex demo and no
deposit section are subject to vehicle availability, credit acceptance
and satisfactory proof of identification and current address. Images are
for illustration purposes only.
What is Personal Car Leasing?
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