6 November 2015 Concept Car
Car financing is probably the most talked-about topic in our showroom. It’s pretty obvious, why. Although the UK is still a comparatively wealthy country, real incomes have hardly gone up for the average family over the past few years. This has made buying houses or expensive goods a serious issue. Car financing, too, has become exceedingly hard to come by for many families in the UK. This is why, at Concept Car Credit, we have made it our priority.
Your home may be your castle. But a car is something far more important than that. For many jobs, a car is an essential requirement and a precondition, in some it essentially constitutes a mobile office in a way. It is not just a mode of transportation, but a status symbol as well and if you’re living in a rural area, more often than not a car is the only acceptable way of getting into and out of the city. This is why car financing is so important: It allows you to meet the basic needs required for your your job, to work your way up again and get back into the black.
Unfortunately, car financing is anything but easy to obtain. There is a strikingly simple reason for this: With a mortgage, a bank can always sell the house if you should be unable to pay your monthly installments. With car financing, however, there is no comparable collateral, because cars tend to depreciate in value very quickly. This makes car financing more risky and exceedingly unpopular with financial institutions.
To add insult to injury, car financing has become even harder over the years. The crisis of the financing industry in general is mainly to blame for this, as are new international laws setting stricter limits with regards to who can and can not apply for a loan. Due to the monetary difficulties many banks have faced and continue to face, providing car financing to former bankrupts or the unemployed is now regarded as a high risk, low profit business. And so, thousands of UK households are unable to obtain financing for their car.
This article is called “Car financing the easy way”. If we’re really honest, however, any serious attempt at getting a loan with a trustworthy finance company is never easy and will probably require you to make some incisive changes. Here are a few points you should take into consideration to improve on your chances of securing car financing:
Be realistic when selecting which model you’d like. The most in-demand cars aren’t always the best ones necessarily. By making reliability, fuel efficiency and longevity your main selection criteria, you’ll arrive at cars which offer high quality at a reasonable price.
Car financing has been our main strength at Concept Car Credit from the beginning. To us, the process of buying a car and financing it are inseparably connected:
After many years of experience, we understand how important it can be to get back in the driving seat again and what it means to you. That is why, to us, car financing is not just about money, but about self-esteem and life choices as well.
If you’re interested in car financing, we may just have the solution you were looking for. In our Manchester showroom, you’ll find hundreds of different cars from leading brands and including many of the most popular models. Do come in and take a look
6 November 2015 Concept Car
