Why Are So Many People Financing Their Cars?

Why Are So Many People Financing Their Cars?

 

In recent years, more and more individuals have been purchasing both new and second-hand cars using financing options. This is not only because the market is being better-regulated by the financial authorities, but because of the way the industry has boomed in the past twenty years. Here at Specialist Vehicles, we are firm-advocates that this can be an excellent type of investment for our clients, and you can find out the reasons behind this opinion below.

Greater Array Of Options

In case you didn’t already realise, one of the primary motivations behind engaging in a financial service is the possibilities it gives you, in terms of the vehicle that you end up with. Gone are the days that you are limited to a rusty ‘banger’ that can barely stay together, because you are working with a restricted budget. Instead, you can treat yourself to a higher-end model, without having to worry about your financial situation holding you back. There are numerous luxurious vehicles which you can acquire with a little help, and this is the route to achieve this.

Staggered Payments

By far and away the biggest attraction which is exhibited by agreeing on a finance plan for your purchase is that, in contrast to a typical deal, you are not forced to part with a large lump-sum straight away. Instead, you can negotiate a structured deal going forward which is affordable for you, and does not overly-stretch your current finances. Think of it the way you would a mortgage - it is a repayment plan for something which plays an essential part in your life. With this type of mentality, you will easily be able to get on board.

Excellent Credit Potential

Whilst each deal is subject to the status of the individual, typically you are able to find a finance option regardless of your credit history. What you may not know is that this is one of the best ways in which to improve your credit score. Each time you make a repayment on your vehicle, it will demonstrate to your bank that you have the capability to stick to an agreement. In turn, this highlights your reliability as a borrower, and could pay dividends further down the line - this is not something that you should overlook without a second thought.

End-Of-Deal Possibilities

Many people that are against financing are under the impression that it can prove to be a bump in the road when the time comes to obtain another vehicle - this could not be further from the truth. Provided that you have kept up-to-date with your scheduled payments, there is no reason why you cannot negotiate your deal to incorporate a different make and model. This means that you can continue to scale-up the vehicles which you are driving.

Why Choose Specialist Vehicles?

Have you been looking high-and-low for a used car dealer in Plymouth, but have not been able to come to a satisfying conclusion in your search? Would you like to collaborate with a company that can offer you finance options, and act as a credit broker during the transaction? If your response to either of these questions was positive, the chances are that you could greatly benefit from enlisting the help of the Specialist Vehicles team.

 

In case you didn’t already know, we are authorised and regulated to act as a retailer for pre-owned cars in Plymouth; our collection features a number of carefully selected units, ensuring that your needs can be met. If you wish to speak to a member of our customer service division about your requirements, why not give us a call today on 01752 343777?