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Tag Archives: car finance

How a bad credit score can cost drivers dear

Used MINIs

Having a poor credit score could end up costing you as much as £8,000 extra when financing one of the UK’s most popular cars, according to new research by Uswitch.com. For instance, the best-selling Ford Fiesta costs £16,645 to buy outright. However, when bought on finance with a four-year repayment …

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How you can buy a car during a debt management plan

Buying a new Hyundai

Finding a new car is never a completely straightforward process. Not only do you need to figure out which kind of car suits you best, but then you have to actually find an affordable and manageable way of buying the car that you want. This is made even more complicated …

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Younger car buyers opting for PCP deals

Mini forecourt

New research suggests that almost one in five (17%) of under 34s use a PCP scheme to finance a car purchase, compared to just 9% of over 55s. More than two-thirds (69%) of car owners over 55 bought their car outright without using finance, compared to half (50%) of 34–54s …

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Beware of lease car ‘wear & tear’ policies

Lease car wear and tear - Autoglass bodyrepair.j

Only a half of motorists who lease their car understand their ‘fair wear and tear’ policy, potentially costing them hundreds of pounds at the end of their agreement, claims new research. Car finance deals are rocketing, so more drivers than ever are not buying their cars in the traditional sense, …

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A-Z of car finance terms

Car finance cost

Nearly nine out of 10 (85%) of car owners say that the idea of being in debt is stressful, according to YouGov data, yet in the last year some 2.4 million cars were bought using finance options. The main reason for this is that financing a car is often the …

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UK drivers aiming high with car finance deals

Hyundai North London

  New research has revealed that 4.7 million British motorists are paying for their car on some sort of finance package. According to the study for Kwik Fit, the UK’s leading automotive servicing and repair company, the average monthly payment across the country is £226.12. Finance providers often highlight that …

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True total cost of motoring revealed

Car finance cost

The average UK motorist is spending £162 per month on running their car, or almost £2,000 per year, before they even take into account the cost of the vehicle itself, reveals new research from Kwik Fit. While many drivers buying a new or used car do so on finance and …

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Revealed: the time it takes to choose a new car

New 18 plate car

UK drivers spend some 42 hours deciding on their next car – and around a third of that time is now spent on choosing the right kind of finance, according to new research. The survey from AA Cars, the AA’s used car website, found that despite advances such as online …

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Top five reasons why Brits buy new cars

Mini forecourt

One in five people now change their car because they’re bored with their current vehicle, claims new research. The survey also revealed that finances are a big factor when it comes to deciding on a new car, with 43% switching as a result of sky high repair bills. Car leasing …

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