Discover All Your Car Financing Options

Understand All of Your Choices


Used Car Finance – 9 Options

Which will suit your personal circumstances?

“I’ve included many inside tips, tricks and tactics to help find the finance deal that best suits your needs.

You have a myriad of options when it comes to financing your next used car. Generally, the better your credit score the more options you have at your disposal. But having a poor credit history still provides some reasonable choices, but there is a price to pay. You’ll find yourself either paying a higher interest rate, larger deposit or need for a guarantor.


Your primary ways to finance a used car are:

1. Hire Purchase – Understand the pros and cons of HP financing.
2. Bank Loan For a Car – When you should and should not access bank loan for a new car.
3. PCP Deals – Personal Contract Purchase – What is PCP and where are the best deals to be found?
4. Buying a Car on Credit Card – Why buying a used car with a credit card it the cheapest way to go.
5. Bad Credit Car Leasing – Find out how to you can realistically lease a new or nearly new car with a poor credit history.


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If your credit history is ‘below average to poor’ and you can’t access these types of lenders, there is also Guaranteed Car Finance and Bad Credit Car Finance (otherwise known as sub-prime) lenders.

As a partner of the Automobile Association (The AA), I’ve recently published a brief article for their loans, lending criteria and interest rates. If you’re credit file is in good order they are recommended as one of the cheapest ways to borrow money for a car.

“This section of The Used Car Guy is dedicated to helping you find the most suitable finance package for your personal circumstances and need.

I have a dedicated page for one of my favourite car finance deals on the market today. CreditPlus are one of the few I advocate as a UK leading car finance lender.

Click here to find out why


Cash Buyers


A cash buyer is deemed to be an individual that has the money ready in the bank to buy their next used car. They generally don’t have a part exchange or any red tape between them and a purchase. Used car dealers are fond of this type of car buyer because the route to closing a sale is relatively simple and quick.

So if you have your finance arranged already via a bank, or you’ve the money from some other source that’s waiting in your bank, you are a cash buyer. This status gives you considerable leverage when it comes to buying used. It allows you certain flexibility with the dealers. You don’t need them for anything other than the car itself.

In contrast, when you need to arrange finance via a dealer there are a number of hurdles to jump. To a certain degree, this takes some of the power away from you and can kind of leave you at the mercy of the dealers. They need you to like the car and want to buy it, but you need them to help you arrange the car financing.

Finally, I discuss Car Gap Insurance (GAP) which is a vital part of today’s sensible car financing borrowing. This extensive article will lay out all of the detail so it’s easy to understand. I also suggest one leading GAP provider ALA Gap Insurance whom I’ve been working with over the last five years.

As you’ll see later, there are pros and cons to higher purchase, bank loans and buying cars via credit cards. You’ll need to read through our articles and decide which will best suit your needs.


The Used Car Guy

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