First Time To Buy A Car? Read Our Guide To Financing


Nothing compares to the experience of buying your first vehicle. Not only is it a major achievement, but you’re also expanding your personal space. All this is yours!


Saving money is great. However, there comes a time we require a little push to bring us to where we need to go. Oftentimes, this is where car financing enters the picture.


Does that sound daunting?


Yes, but it doesn’t need to be like that. Obtaining the best financing for you and your unique conditions will allow you to be on the road faster.


Below is a practical guide about dealing with financing, and the things you need to understand throughout the process.


Understanding the Game of Car Buying Through Finance


Credit history is usually the factor that makes people worry when getting a car through finance. Should you let it bother you?


If your objective is to buy a car, you should take the time to create or improve your credit rating. This will help you get favorable finance deals for your preferred vehicle.


With the number of available car financing providers in the market, you won’t find it a difficult time to get the best possible rate for you. 


We make it a point to obtain the best rates for our customers. So it doesn’t matter if your credit is not in its best shape – we’ll find you a car financing deal that’s reasonable for your circumstances.


Determine your Budget – Buy a Car Through Financing


Your affordability is your best bet when buying a car, whether you’re getting vehicle financing or going straight to the dealership.


Setting a budget before buying a vehicle is important. If you’re unable to afford what’s expected of you, you should assess your budget beforehand. Not getting what you planned to achieve is frustrating and disappointing.


So what do the running costs look like?


  • Repaying your loan – understand your finance options.
  • Fuel – You need fuel to get from point A to point B. Do you know how much you’re expecting to use your car in a year? 4,000 miles, 10,000 miles, or more? 
  • Car Insurance – Essential, at the same time costly. It’s best to find the best deal before purchasing your car – you’ll be surprised at how much you’ll save.
  • Road Tax – Most vehicle owners need to pay road tax. You may be exempted from paying road tax if you’re buying an electric car, an A VED band, or a pre-1973 vehicle.
  • MOT check – It’s unavoidable if your vehicle is more than three years old. In other words, your car should pass the MOT check before its deemed safe to drive and roadworthy.
  • Maintaining your car – Your vehicle is a machine that needs to be regularly maintained. Investing in the health of your car is crucial to ensure that all potential unnecessary expenses are avoided.


Start assessing your budget and stay within your means.


Reasonably Affordable Loan Deals


Many people do not realize that purchasing a car through finance will help in managing funds more efficiently.


Car financing offers a myriad of benefits that you may not enjoy in other ways. Getting a car is costly – and we’re just talking about the insurance and maintenance side of it. 


With car financing, you’ll be able to get the funds that you need and make the most of that money.


Fewer Restrictions on First Personal Car


There’s no need for you to settle for a car that you don’t like when you opt for car financing. The lending industry has become very competitive, it’s possible to get the first personal car that you want regardless of your credit situation.


Car financing gives you a wide variety of options to select from. Young drivers can take advantage of cheaper insurance premiums which may cover repairs for your vehicle as well.


What’s better is that when you’re done paying off your loan, the vehicle is yours. It’s an investment that you’ll be proud of.


Improve Your Credit Score by First Loans Payment


You may not know it but purchasing a car through finance is good for your credit history. Major purchases and investments impact your credit rating or score significantly. From buying home appliances to a car- first, or a new home, your credit record will speak well for your reputation.


Buying a vehicle on finance is a way to build or improve your credit score by being responsible for loan repayments especially your first payment of your loan.


Higher Limit


One of the best benefits of vehicle financing for your first car is that you’ll get to choose one with a higher price than you would on your original budget.


Instead of being limited by your initial budget of your first car – the one you set aside for your new car, financing allows you to enjoy bigger limits. The lender will determine how much you can pay and this will impact your purchase limit.


In essence, the bigger budget you have for your first car, the more freedom to choose something better.




Financing shouldn’t be too difficult; the right financier will give you the confidence to get what you want. You must understand what you are getting into before seeking the vehicle financing that you’re looking for. What car will you get with reliable vehicle financing?