How to get the best PCP deals in the UK?
Buying a car is a dream most of us have had ever since we were little kids. Those that are able to save or earn enough money can buy their cars through a onetime payment, and those that are unable to muster up the finances to buy a car can turn to car finance options. There are several different car finance options available in the market such as car loans, credit payments to buy a car, Logbook loans and personal loans. One of the newest entrants into the car financing options market are Personal Contract Purchase.
Despite its rising popularity, few people are actually aware of how to get the best PCP deals in the UK. This article outlines the ways to get the best deals to finance your dream car.
• Using the Internet
The rise of the internet has meant that more and more services and financial products are being offered online. Buyers and potential borrowers are more comfortable taking a look at the options they have available online, rather than visiting the offices of such institutions. There are several compare sites on the internet that you can use to compare PCP loans instead of having to look at each deal in detail by yourself.
• Contact Finance Brokers Online
Instead of simply using online search engines to find the best deals on your own, a potential car buyer can also go online and contact a handful of the online brokers in the UK market. These brokers are well placed to deal with and supply up to date information to you regarding the ideal car to choose, and the best PCP deal on offer in the market. Sometimes buyers may have damaged credit history, in such cases, online brokers are best placed to find a PCP based car finance solution for such people.
However, relying on and online broker too much isn’t the wisest thing to do. When you are asking them for suggestions and quotes make sure you know the kind of credit search they will put you through. In terms of a hard credit search, your credit information will be exposed and visible to other lenders even if you are no longer looking to take out the loan.
• Using Dealer Finance
Car dealers who are looking to sell of their cars realize that not everyone is able to make payments for their car up front. To cater to a wider range of customers, they offer a wide variety of car finance options, one of which is PCP. Their financial arm is typically responsible for the details of the plan they are offering, but as a dealership that is looking to sell of their cars before they become a liability, these deals can be better than some being offered by full fledge financial institutions.
These are some of the ways that you can take get the best PCP deals to finance the car that you are looking for.