So, you’ve decided you want a new car. Whether it’s to accommodate a growing family, to upgrade your commute or finally get on the road having passed your test. Choosing car finance for your new vehicle can mean keeping hold of those hard-earned savings.
What do car finance companies do?
Car finance companies (also known as lenders) loan you the money to buy your chosen car. They can often be part of a much larger organisation, such as a bank or car manufacturer. However, many of them are also independent businesses like Marsh Finance.
Whether you apply through a dealer, a broker or online, it is the finance company that you take out an agreement with. Furthermore, it is the finance company who owns the car until all payments have been made on the agreement which usually last between 12 and 60 months.
There are many different finance companies across the UK. What’s more, they tend to focus on a particular area of the car finance market. For example, some finance companies specialise in helping customers who have poor credit, known as the Sub Prime market. Others prefer to focus on good and excellent credit, known as the Prime or Near Prime market.
Once you’ve chosen a vehicle from sites like Autotrader or from a dealership, You have various options available to you on how to finance the car. From going through the car dealership itself to applying online, there are plenty of ways to do it. Whichever way you choose, it will ultimately be a car finance company that looks after you. Here at Marsh Finance, we’re committed to helping you every step on the way and will be in regular contact with you to guide you through the process.
You have several options when choosing which car finance company to go for, each catering to different types of car owners. Here at Marsh Finance, we offer both HP and PCP agreements on Used Cars. We’ve been in the business nearly 50 years, and have worked with thousands of customers who were looking for reliable car finance. Of course, you have a number of credible car finance companies to choose from, including companies such as CarFinance24/7, Oodle or Zuto as well as many others which you can find here – depending on what type of loan you’re looking for (Hire Purchase [HP] or Personal Contract Purchase [PCP]) your credit score, monthly payment amounts and the vehicle itself may impact which lenders you can borrow from. Speaking to your car dealer may give you a better idea as to which car finance company you go with.
Once you have found a lender that caters to your needs, they’ll help you every step of the way to make sure your journey to your next car goes as smoothly as possible. If you do choose Marsh Finance as your car finance lender, you’ll be in safe hands with us. We’ll work closely with you to find the perfect vehicle that suits your deposit amount, monthly payment amount and payment date. We have long standing relationships with many Car Dealerships including Arnold Clark, Bristol Street Motors and many more.
To find out more about how car finance works or how to move on to the next steps of your finance journey, click here.