Car Finance is the umbrella term for a range of options that allow you to borrow the money you need to buy a new or used car.  No matter if you are using a traditional car finance product or a personal loan there is a credit agreement between you and the lender. They allow you to pay for the car over a period of time, with interest payable on the balance to finance.

One of the main advantages of financing a car is not having to pay a large sum of money. 

In reality, we don't all have access to a large sum of money to pay for a car in cash. Financing allows you to spread the cost over many months making it more affordable. 

Another advantage is being able to get a better vehicle. Due to being able to pay off the vehicle over many months, you may find it within your budget to get a more expensive better quality vehicle. Getting a better quality vehicle could reduce expenses in the long run. 

Check out our blog post for more advantages to financing a vehicle

A lender decides how much they will let you borrow by doing what is called an affordability check. 

Generally, they will review how much your earn (income) and how much you spend on regular payments such as mortgage/rent and bills. 

The more disposable income you have the more likely you are to be able to afford a car repayment. 

Car finance is a big commitment that can last for many years, affordability checks can help ensure that a monthly car repayment won't lead you into debt or make it hard for you to cover other expenses. 

Asking affordability questions is part of being a responsible lender, a lender wants you to be able to keep to the monthly repayment so will never lend you more money than you can afford to pay back. 

At Car Loans R Us we put you in control! 

By getting your finance first you can go into any reputable dealer with a budget you can ensure you get the most of. 

We are a finance broker and not a lender. As a broker, we work on your behalf to find you the best car finance option by acting as a middle man between you and one of our many finance providers. We have a carefully selected panel of over 30 lenders who cater to ALL circumstances to ensure you are offered the best possible finance option. 

You will be assigned a dedicated team member with a wealth of knowledge in both the automotive and finance industries to guide you through the entire process and tailor the right finance product for you. 

You wouldn't expect an estate agent to provide you with a mortgage quote, and you should follow the same principle when buying a car. A car dealership won't have the breadth of knowledge or expertise to give you the choice and flexibility when it comes to car finance.

This is where Car Loans R Us excel, we have over 50 years of experience in the automotive and finance industry, our commitment to service ensure all of our clients are treated fairly. We endeavour to help everyone that contacts us and provide the best possible level of service. 

At Car Loans R Us Getting Your Finance First Puts You In The Driving Seat!

Hire Purchase (HP) is one of the most common forms of vehicle finance. In short hire purchase is an agreement between you, the customer, and the finance company that is secured against the vehicle. You pay off the value of the vehicle plus interest in fixed monthly payments over an agreed period of time. At the end of the agreement, you can pay an 'option to purchase' fee to own the vehicle outright. 

APR stands for Annual Percentage Rate, it represents the price you pay to borrow money. It takes into account the interest rate and additional charges of a credit offer. All lenders have to tell you what the APR is before you sign an agreement.