A Guide to Sourcing the Cheapest Car Loan


Buying a car can be an exciting and rewarding experience, and for most of us, it involves taking out a loan. The car finance business has come a long way since the early days, when the loan provider would arrange to view the car, and a few weeks later, you would have a decision. Modern car finance companies have a strong online presence, and with easy to navigate websites, the entire process can be carried out online.

Compare Quotes

This is one big advantage that online car finance provides, making it easy to check and compare a range of loan providers, and with approval given within the hour, the whole process can be completed in a very short time. If, for example, you are thinking of a new car, but haven’t started looking, you might want to apply for a provisional loan approval, which will give you a budget, and that makes the looking part so much easier. There are reputable finance companies that offer cheap car finance, and they are all online.


The car finance industry is extremely competitive, which means that there are additional benefits in place to attract the consumer. Some loan providers will allow the borrower to postpone payments, possibly up the 3 consecutive months, which really helps if a large, unexpected expense arrives. Deferred payments can be a lifesaver when you suddenly realise that this is the time of the year when several large bills all come at once, and if you source the right loan, there are other benefits to be had.

An Internet Search

In this day and age, you can forget thumbing through the yellow pages, as everything is now online, and a simple search will bring up a long list of car finance providers, and you can begin to browse. Comparing prices is a breeze, as most sites would have a compare feature, which enables you to receive several offers from different lenders. The only thing it will cost you is a few hours of Internet browsing, and before very long, you will have your approval and can begin looking at cars.

Established Company

As with most financial services, you really want to be dealing with a recognised loan provider, and these typically offer the cheapest interest rates, which is a major factor when looking to borrow money. For this reason, it is always worth considering names that are known the world over, as this gives added security.

Calculate what you Can Afford

It won’t take long to list your monthly expenses, which will give you a monthly figure you can comfortably afford, and this will to a large degree, determine the amount you can borrow. If you are yet to begin the car purchase experience, you might want to discover how much you can borrow before you start looking at cars.

Online car finance companies make the loan application process convenient, and with the ability to make online comparisons, arranging finance for that dream car has never been easier.

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