If you’re wondering about how to get the best deal for car sales on credit, rest assured: You’re not alone. In fact, the topic has become so popular online, that it appears as though it has become entirely impossible to find impartial advice on it.
At Concept Car Credit, we sympathise strongly with this issue, since providing car credit to everyone, regardless of their credit score, has been an essential part of our mission right from the start. Which is why we have put together this short introduction to car sales on credit to help you take the all important first steps towards a great deal.
Car sales on credit: Nothing out of the ordinary
Let’s begin by saying, though, that car sales on credit are not the exception when it comes to car finance. Far from it, they are the typical way of paying for a new vehicle. And this holds true pretty much regardless of the financial situation of the buyer.
Buying a car on credit makes even more sense today, when interest rates are on a historical low, putting the dream of driving within your reach. So you’re doing absolutely nothing out of the ordinary. You’re doing things the way they are usually done.
Car sales on credit: Bad credit doesn’t mean no credit
The old equation ‘bad credit = no credit’ no longer applies. It does still hold true that a better credit score will get you better rates and some dealers may even reject working with anyone who has experienced financial difficulty in the past. But generally, these reservations are no longer the norm.
Instead, car sales on credit are regarded as the beginning of a long term relationship, in which the financing part need not necessarily represent the main source of income. Which is good news if you’re afraid you may end up empty handed.
Car sales on credit: Be prepared
It goes without saying that if you’re looking for car sales on credit with a less than perfect credit score, you should come as prepared as possible to avoid snap decisions.
Which means you should have all of the following points covered before setting foot in a showroom:
- Set your budget. Generally speaking, it is essential to set a boundary for yourself based on what you can afford and how urgently you need a car. This will put some space between your emotional response to a model you really like and your financial possibilities.
- Establish how much you can afford to pay each month. This naturally goes hand in hand with setting your budget, but it’s not quite the same. By changing the length of the lease, for example, you can either raise or reduce your monthly payments and thereby put cars, which might seem out of your league, at your disposal. Do be aware, however, that lower monthly payments almost always translate to higher overall rates and the best offers for car sales on credit will usually involve shorter leases.
- Define what kind of car you need. Needless to say, we all have our dreams, but when it comes to everyday life, the best choice may be to ignore them. If you just need a car to take you to work, you won’t need a SUV or expensive gadgets, for example.
- Conduct research on different models. The Internet has made gathering information a lot easier, so there is really no excuse for walking into a showroom without at least some basic information on the models on display there. By investing a little more time, you can turn into a full-fledged expert.
- Find out your credit score. Even if you’re afraid it might not look good, it’s absolutely vital that you at least know exactly where you’re at. This will also help you determine how far you can go in the bargaining phase.
Car sales on credit: Expert recommendations
Once you’re in the showroom, of course, you’re entering an entirely new phase of the buying process. It is here that many buyers feel uncertain about car sales on credit and afraid of stumbling into a bad deal.
Then again, there are quite a few things you can do to protect yourself:
- Take a test drive. This should usually not be an issue and remains one of the most under-appreciated factors in car sales on credit. Even used cars will today last for many, many years, so you should at least take out a few minutes to determine if you’re happy with the feel of the vehicle.
- Go local. Buying a car online or at a dealer in another city may save you a few Pounds, but it also means you won’t have a direct contact in your hometown. Whenever possible, buy your car locally and with a dealer you really trust.
- Ask questions. If you’ve done your homework and researched the cars on display, you should have even more questions than before. Talk to the dealer and ask for her or his opinion to establish a rapport.
- Never decide straight away. Buying on the spot is never a good idea when it comes to car sales on credit. Which is why it’s always better to clear your head. In some cases, you will have to take a decision quickly, but at least allow yourself the time to have a cup of coffee and think things through.
At Concept Car Credit, we take car sales on credit seriously. To us, that means giving you great deals and building a personal relationship. If you’re in Manchester, do drop by our showroom and find out how we can help you find the car that’s right for you.