How to Buy a Used Car on Finance
Buying a car on finance can be an overwhelming process, but it doesn’t have to be! At Hilton Garage, we try to make your car purchase as smooth as possible, and we have created a brief guide to buying a used car on finance to show you just how straightforward it can be.
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Calculate your budget
The best thing about buying a car on finance is that you will be able to afford more than you would if you were buying a vehicle outright, but you will still need to make sure that you will be able to keep up with the repayments.
Before you start your search for the perfect car, look at your income and outgoings from the past few months and work out how much is left over on average to determine your budget.
Pick the right used car for you
Once the calculations are out of the way, you can move onto the fun part: choosing your car! Take a look at Hilton Garage’s extensive showroom, which is full of great makes and models from popular manufacturers.
Think about what you will be using your car for so that you can pick a vehicle with a suitable body type, fuel type and speed.
Find the right finance plan for you
Hire purchase (HP) and personal contract purchase (PCP) plans each offer a number of benefits. PCP finance is more flexible, allowing you to choose whether or not you want to return the car at the end of your contract by making a large final payment or keep it.
HP finance, on the other hand, offers a fixed interest rate and you will become the owner of the car without having to make a substantial payment when your contract finishes. It all comes down to your monthly budget and how certain you are that you want to become the official owner of the car.
Apply!
With Hilton Garage, you will be able to apply for finance for your chosen vehicle and get an instant decision. If you are approved, you can reserve the car then and there!