Used car finance is a broad term for a range Used Vehicle finance agreements that allow you to buy a second-hand car. When you get a car on finance, you usually have to put down an initial deposit and repay the lender back with fixed monthly payments. Depending on the type of finance you choose, you may own the car afterwards.
Can I Finance a Used Car?
Yes, absolutely! Financing a used car is a very common option in Northern Ireland. Whether you’re buying from a dealership or a private seller, there are plenty of lenders who offer loans specifically for used cars. These loans are often tailored to the buyer’s budget, allowing you to spread the cost over several years Used Vehicle Finance
How does financing a second-hand car work?
- Decide on financing Understand the different car finance options and any potential extra conditions or fees. Options include hire purchase, personal contract purchase or a car loan.
- Find the right deal . You’ll get an online decision, and if pre-approved, they’ll tell you what your monthly payments and rates will be.
- You’ll usually pay an initial deposit at the start of a car finance contract. The larger it is, the lower the monthly payments can be
- Make regular monthly payments during the contract. Depending on the type of finance you’ll then either own the car or have the option to purchase it
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