Currently, car financing is a very profitable business in the United Kingdom. A large number of car financing companies are operating in the UK. They offer competitive car financing rates, which can be compared by car buyers searching for the best car financing option.
In the UK, almost 400 finance companies and lending institutions are dealing with car financing. They provide instant and online car finance quotes. People having bad credit history are also eligible for getting car finance loans. While going to buy a car, the credit scores of the car buyer are assessed by the car finance company.
According to the credit scores, the amount of car finance loan is decided. Usually, the maximum number of lenders do not want to lend to people who have a poor credit history because they consider it to be more risky. However, there are some car finance companies who offer car finance loans to them.
They are known as bad credit car finance companies. The UK Car Finance Directory works as an useful device for people who are searching for car finance companies in the UK. Earlier, for finding the most suitable car finance option in UK, a car buyer really had to shop around, but nowadays finding the cheapest repayment option is quite convenient.
In the UK, cars can be purchased from the following sources:
Second hand dealers
Over the internet
Usually, the car loan payment options offered by car finance companies in the UK include the following:
Hire purchase system
The leading car finance companies in UK include the following:
Approved Car Finance
Accept Car Credit
uCan Car Credit
Welcome Car Finance
For buying a car in the UK, it is mandatory to purchase a car insurance policy. The different types of costs that are involved for driving a car in the UK include road tax, vehicle excise duty (VED), MOT (Ministry of Transport) taxes etc.
Last Updated on : 1st August 2013