What are the advantages and disadvantages of buying a cheap used car?

October 14, 2013 // Posted in Car Loan

Owning a car is important since it is one of the easiest ways to move around. If you do not have enough money to buy a new one, you can go for a cheap used car. When you go for a used car, you get to enjoy so many benefits.

If you do not have a good credit history, you might not be able to buy a used car. This is because it is difficult for you to get car financing help from mainstream lending institutions. However, with a cheap car, you can get financing through the dealership. So you can pay a small down payment and finish the rest of the payments in easy installments.

Another benefit of purchasing a cheap used car is that you can get something you would not normally afford. There are certain cars especially the luxury ones that are quite expensive. It can be really difficult to get your hands on them. This does not mean all hope for owning one is lost. You can get a used version of the same car and have it cheaper.

This means that when you are buying used cars, you have more variety of the type of car to go for. So you do not have to be stuck to one model simply because it is what you can afford.

When buying a used car, you also benefit from lower insurance rates. The premiums charged on a used car are much lower than those you would pay for a new one. Therefore, maintaining a used car is also cheaper on your pocket and you do not just save at the instance when you are buying.

Finally, when you buy a cheap used car, you will not have to endure depreciation. Most new cars depreciate in value a lot especially during the first few years of ownership. However, with a used car, the value is quite stable so if you decide and sell to get another one, you will not go at too much of a loss.

Can you still buy a car with a loan even if you have bad credit?

September 11, 2013 // Posted in Bad Credit Loan

It is general knowledge that buying a car can be a daunting task, especially when encountered by the financial aspect. People who do not have the money and who find it hard to get a loan due to a bad credit history, can, contrary to popular belief, still acquire a car with a specific type of loan. Here, we will look at what a bad credit loan is and how it can help anyone who wants to buy a car on credit.loan

Let us begin with the, more or less, textbook definition of a bad credit loan: it is a loan that is given solely to people with bad credit histories. Note that bad credit history, in this case, means that they have defaulted on a previous loan or have been, at a previous point in their lives, unable to pay a certain amount of loan repayments.

This type of loan is specific and might be unknown to many people due to its relative new arrival on the financial market. Those who want to attain it to finance the purchase of a car should also know that it has several characteristics that might have a substantial effect on them: an interest rate that is higher than the average one and short-term repayment schedule.

In the UK, the financial authorities carefully monitor the lenders for illegal and unethical interest rate policies, such as hidden floating interest rate, etc. However, it would be wise to check for any surprises when you are signing the loan.

The loan for bad credit has a relatively short-term repayment schedule, meaning that you will have to repay it in a smaller timeframe. Be careful to take out a loan you can pay back so your credit history is not marred any further.

In conclusion, it is quite possible to buy a car with a loan even if you have a bad credit history. In fact, it is quite simple as long as you go out there and check what bad credit loans are available to you!

Apply for the poor credit loans that you need today. After getting the finance you need, you’ll soon have your very own car that you can drive around as much as you like.

What are the best types of cars to buy for a family of four?

August 17, 2013 // Posted in Car Loan

When you were single, a Vauxhall sports car was ideal for you. Now that you have started a family, a two door car is not very practical. If you want your family to travel in style and comfort, here are four of the best types of cars to buy for a family of four.

Mazda Tourer Estate
bad creditThis family car is spacious, comfortable and fuel efficient. It features plenty of room in the front and rear seat. The long roof line also lends itself to even more legroom in the back seat. The Maza Tourer Estate also has a stylish exterior, therefore you will not have to compromise attractiveness for comfort.

BMW 3 Series Touring Estate
This car is extremely family friendly due to its spacious interior and split-opening tailgate. Your family will enjoy a comfortable ride in this car as it features suspension settings that absorb bumps easily on rough terrains. If you want additional peace of mind, then this is the car to get as it was awarded a five star rating in the crash safety tests performed by the Euro NCAP.

Volkswagen Golf Hatchback
The Volkswagen Golf Hatchback is very spacious and offers enough space to seat three adults in the back comfortably. This family car features a standard suspension that smooths out bumps and uneven surfaces. The car also features anti-lock brakes, seven airbags and electronic stability control and was awarded five stars by the Euro NCAP in the crash safety tests.

Ford Fiesta
This family car is among the best on the market. It is quite spacious and offers a great amount of legroom in both the front and rear seat. It features supportive seats with a range of options for adjustment. It’s easy for you and your family to board this car as it features wide door opening. This car also received a five star rating in the NCAP crash safety test.

The ranges of family cars available today are not only comfortable, they are also stylish and fun to drive. Drive with confidence with any of the family cars listed above.