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Personal Loans Guide

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• Personal Loans Guide
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Car Loans

Looking to buy a new car? There are two ways to do this, (1) on hire purchase and (2) a car loan. Specialist car loan advisors can help make the right choice depending on the type of car and the amount you need. Remember if its your first car choose something that is a little slower than you dream of and you will find your insurance cost much lower, check the fuel efficiency on www.fuel-economy.co.uk and you can save yourself some money and the environment at the same time. Your specialist advisor should be able to tell you whether you should opt for a car loan or whether you should go down the hire purchase route

Best time to Buy

In the world of cars everyone buys second hand cars in the spring. In the UK alone during the spring season billions is spent on second hand car loans and much of using personal loans. The average price of these second hand cars is around £5000. Since the credit crunch and the economic downturn in 2009 car prices have tumbled but with the government scrappage scheme you should be able to get a good deal. But do remember you might be able to afford to buy a car but can you afford the repayments, the cost of maintenance, fuel and servicing. Think carefully whether the that 3.2ltre is really going to make sense or whether the 1.0 litre makes more sense.

Can you trade in your old car

You should allway think about trading in your old car especially while the scrappage scheme is still running. Note that some manufacturers still offer good deals on trade in’s even though the government scheme has ended. Use Autotrader, Prices car guide or other websites to work out what your car is worth. . First you should estimate the value of your car. Compare it to make and models of similar cars that are already on sale in sales magazines and on autotrader on the internet.

Car Finance There are 4 ways of buying a car

• (i) hire-purchase,
• (ii) manufacturer schemes
• (iii) personal loans.
• (iv) cash

Hire purchase allows the buyer to pay for the purchase in instalments. You usually end up paying a lot more than the car is worth and the value of the car depreciates as soon as you drive it out of the forecourt. On the plus side there should be a warranty that covers the car until your final payment date, so that if something goes wrong you should be able to return the car for a repair free of charge provided that the problem is covered by the warranty.

You will often find that you will get good deals on new cars directly from the maker, e.g Ford often do these deals if you go to a Ford showroom, the interest rate is usually low or even zero.

For the majority of Britons’ a personal loan is the only option for buying a second hand car and if don’t have any other security to offer the lender you will have to secured the loan on the car that you are going to buy. By giving security over your car you should have a lower APR( Annual Percentage Rate ), this because if you fail to repay the lender he will be able to take away your car and sell it get his money back.

If you are a cash buyer you should be able to get a reduction on the price. Even if you have your personal loan arranged before you go to the dealer you should be able to get the price reduced, this is because having your loan up front is almost as good as having cash in your pocket

For a personal loan complete the form and a third party advisor in arranging personal loans will contact you and will do all the hard work to enable you to get the car of your dreams.

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Step 1 of 3

About your loan

How much would you like to borrow? Over how many years?   Please select1 year2 years3 years4 years5 years6 years7 years8 years9 years10 years11 years12 years13 years14 years15 years16 years17 years18 years19 years20 years21 years22 years23 years24 years25 years   Purpose of loan? Current residential status? Please selectDebt ConsolidationHome ImprovementCarHolidayWeddingOther   Please selectHome Owner - With a mortgageHome Owner - No mortgagePrivate Tenant - FurnishedPrivate Tenant - UnfurnishedLiving with parentsOther   What is your monthly income? (including any benefits) Your employment status?   Please selectEmployedSelf-employedUnemployedHome-makerStudentRetiredOther   Proceed to step 2.

Step 2 of 3

About your loan

You qualify for two types of loan. Select either: Homeowner Loan Is secured on your home. Rates depend on your circumstances; usually lower than an unsecured loan and often more flexible. Unsecured Loan Not secured on your home. May not qualify you for the best rates. Applying to a number of lenders may affect your credit score.   Estimated value of your property?   Your current mortgage balance?       Where will you buy your car? Please selectA DealerPrivate SaleI'm Undecided   What is the total value of money you owe to companies?   Do you owe money to 3 or more companies?     YesNo   What is your monthly rent/mortgage payment?   Your living arrangements?     Please selectSingleLiving with PartnerSingle & 1 ChildSingle & 2 ChildrenSingle & 3 ChildrenSingle & 4+ ChildrenWith Partner & 1 ChildWith Partner & 2 ChildrenWith Partner & 3 ChildrenWith Partner & 4+ Children   Your date of birth?   Do you have adverse credit? (if yes, we can still help) --12345678910111213141516171819202122232425262728293031--JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember----1991199019891988198719861985198419831982198119801979197819771976197519741973197219711970196919681967196619651964196319621961196019591958195719561955195419531952195119501949194819471946194519441943194219411940     YesNo   Proceed to step 3.

Step 2 of 3	About your loan
Based on your information we recommend you speak to a personal debt adviser. They will offer you advice on: Whether a loan is your best option Consolidating your debts Reducing the amount you owe How to freeze your interest payments Protecting you from creditors Proceed to step 3.

Step 3 of 3	Your details
First name: Last name:     Phone number: Alternate phone number:     E-mail address:   First line of current address: Current postcode:     Based on your requirements we have selected the FSA regulated broker Broker Name to help you with your enquiry. Please click SUBMIT to confirm that you are happy for them to contact you by telephone/e-mail.

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