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Introducing the Award Winning VW Polo

The latest Polo recently won the European Car of the Year Award and claimed top position in Motoring.co.uk’s Twelve Cars of Christmas list. This Germanic supermini therefore has numerous strengths including its robust construction, generous interior space, and a premium feel rarely associated with small vehicles.

Definitely a must when you’re thinking about a car loan

January 11, 2010 at 8:31 am | Car Loans | No comment

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Car Loans – The New Generation

New laws on car loans have been revealed. High-interest loans secured on cars are to be outlawed under UK Government proposals tabled last week. So-called ‘logbook loans’ were archaic and enabled lenders to seize cars and other property from vulnerable borrowers without a court order, Kevin Brennan, the Consumer Minister, is quoted as saying in a report in The Times.
The report notes that about 40,000 people a year take out such loans, which it says are aggressively advertised on the Internet to bankrupts and people with poor credit histories or county court judgments. Typically the borrower can raise up to £5000 at short notice, paying interest rates of between 200 and 600%. But their cars are taken if they default and premises can be broken into to seize them.

January 10, 2010 at 8:09 am | Car Loans | No comment

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New car purchase – which is the best way?

Although the best way to purchase a new car is usually with cash, most people need to borrow at least part of the purchase price. There are three main ways to finance your car purchase. Each has positives and negatives, so it’s worth giving them each careful consideration before proceeding.
Hire purchase finance is effectively a loan which is secured on your vehicle, and which is paid back in monthly instalments over a set number of years. However you need to examine showroom deals very carefully as car dealers are often keen to sign customers up to hire-purchase agreements as they often receive hefty commission payments for every finance customer.
Personal Contract Purchase (PCP) plans, on offer from most car dealers, are worth considering. You put down a deposit, make monthly payments and at the end of the plan you can pay the final balance to keep the car, or hand it back and switch to a new plan on another new vehicle. This means you can change car every three years or so, but check the small print carefully. Some agreements limit mileage, stipulate service frequency and tie you to a particular insurance package.
Personal loans tend to provide the cheapest method of financing the purchase of a new car. Increased competition in recent years has seen interest rates fall and the advantage of using a personal loan to buy a car is that it is unsecured, so you don’t have to pay off your loan if you decide to sell your car early.

February 4, 2009 at 8:29 pm | Car Loans, personal loan | No comment

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How to get a great car deal

Undoubtedly the best way to buy a new car is with cash because this is where you do the best deal. But most of us need to borrow at least part of the purchase price, after all this is usually the second most costly purchase you make in your life.
However many buyers simply accept the finance package offered by the car dealer and, in doing so, fail to get the most competitive rates.
With new car sales down by around 20% this has to be the best time ever to drive a tough bargain. Many people accept car finance deals because the dealer offers a big discount on the car but, in truth, you could almost certainly get that deal and better with cash.
Its baffling why a new car purchaser will often spend three months to select a car (magazine research, showroom visits, test drives etc.), often worrying about running costs and depreciation, but will spend no time investigating the best finance deal – which can often save them hundreds of pounds.
If you are searching for a car loan, get www.personalloansmadeeasy to do the work for you.

January 9, 2009 at 12:34 pm | Car Loans, personal loan | No comment

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