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So you're now contemplating purchasing a car on borrowed funds. Broadly the choices of finance available in such a situation are:
Secured loan
Unsecured loan
Car Finance
A secured loan is available only to home owners. If you own a home and have excellent credit status, a secured car loan is the best option in terms of cost of finance (read interest costs). However, such borrowing often consumes considerable time as lenders need to go through a lot of steps before issuing the cheque ... Read More »
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With credit availability declining and interest rates trending up, car finance companies too are tightening their lending norms. Welcome Finance, leaders in the sub-prime car finance market has recently announced withdrawal of funding from independent car dealerships, running into 100's across the United Kingdom. Welcome Car Finance will now be available for those purchasing cars from the company's showrooms numbering twelve. This would mean that several borrowers with poor credit status will find it more difficult than ever to get ... Read More »
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Car credit is a term synonymous with car finance. A car finance is a loan that is secured against the value of the car that is often selected from the finance company's showroom. In other words, car credit comes as a 'car plus finance' package deal. Car credit companies often offer several incentives to potential customers to make their deals attractive to them. These may include free insurance, cash back, part exchange and other freebies. The leading car credit companies ... Read More »
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