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At Charles & Dean, we know that choosing the right car finance can be challenging. Here are our top five tips to help you make the best decision:
1. Assess Your Monthly Budget & Deposit Amount
Before exploring car finance, assess your monthly budget to determine what you can comfortably afford. Knowing your budget and deposit upfront helps us to find a vehicle that aligns with your financial situation.
2. Consider the Vehicle
When choosing a car, look at how it affects your monthly payments. A lower upfront price might mean higher monthly costs due to factors like residual values and market trends.
With our market knowledge, we can offer guidance to help with your decision.
3. Review the Supplier
Where you buy your car can impact your financing options. A private sale might seem cheaper, but could mean higher monthly costs due to lender restrictions. Buying from a dealership typically offers better financing terms and more peace of mind.
4. Look At Your Exit Strategy
Think about how long you plan to keep your vehicle and whether you frequently change cars. If you want to build equity and own your car outright, a balloon agreement may not be ideal.
The type of car you choose matters too, as those with higher residuals build more equity. Our team can discuss your long-term goals and help you find the most competitive financing option from our funder panel, for your situation.
5. Choosing the Right Car
While practical factors are essential when financing a car, don’t forget to choose one you truly want. You may be driving it for the entire agreement, so let us help you find your dream car.
Why Use Charles & Dean?
Using a broker offers several advantages when navigating car finance agreements:
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Competitive Rates: We have access to a wide variety of lenders, allowing us to find the most competitive rates from our panel.
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Tailored Solutions: We can match you with lenders that offer the best payment options tailored to your specific needs.
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Market Expertise: We can cross-reference our funder panel, ensuring you get a deal that best suits your financial situation based on rates and overall product suitability.
Written by
Dean Clarke
