There are a lot of household finance companies who offer household car finance to a wide range of customers. Household car finance companies provide services related to new car loans, used car loans, as well as auto refinancing.
Reputed household car finance companies offer instant and online quotes by the help of which prospective automobile buyers can get a fair idea about the car prices, the interest rates, and the different discounts available.
Household car finance companies provide auto refinance rates which are competitive in nature and these auto refinance options can be accessible by customers with all ranges of credit scores.
By refinancing the automobile loan, a significant amount of savings can be done because with the help of car refinancing the car financing rates and the monthly installments can be lowered down.
The methods for raising household car finance usually include the following:
- Hire purchase: Hire purchase options are available from dealers for both new and used cars. This system can be arranged conveniently. Nevertheless, the ownership is not transferred to the car buyer until the final installment is paid.
- Remortgage: Remortgage is one of the cheapest methods for purchasing a car with the help of household car finance.
- Interest-free finance: Interest-free finance is usually available exclusively for brand new cars. It is always a lucrative option for car buyers if they buy a new car and do not have to pay any interest on the car loan.
- Personal contract purchase: In this case, the monthly installments paid from the bank account of the car buyer are distributed over a predetermined time period (usually 2-4 years). When the term ends, the car buyer has to buy the car straightaway by paying a lump sum amount or has to return it.
- Personal loan: Various banks, financial institutions, and building societies offer personal loans for household car finance.
- Car loan: A car loan is a form of personal loan. Benefits available include free car inspection and payment holidays.
The application process for household car finance is short and simple. Free online application services are available from a large number of household finance companies at free of cost.
Last Updated on : 1st August 2013