Car-Purchase-Finance-Or-Cash-Accept-Car-Finance

The time may have come for you to buy a new car, but there are multiple options when it comes to the actual purchase method. More to the point, you can choose to enter a finance plan to handle the payment, or you can choose to use cash instead. Here, we will be taking a look at the pros and cons of each, which may ultimately be able to positively influence the decision that you make based on your personal preferences.

Beginning with finance, then, the main positive is that you should have access to a greater range of vehicles because you essentially have more money to play with, since it will be part of a long-term fixed monthly payment agreement. What’s more, you will be doing so with a reputable and credible finance company (ourselves being the primary example), and you have reduced strain when it comes to making payments, since you’re paying less per month than you are when buying it outright. The main downside is that some people do not want to sign up to a loan, especially if they already have other loans to pay off, and once you are in the agreement, you need to make sure you are happy with the car as it can be very tricky to exit the plan early, a dilemma you would not have when paying with cash.

On that note, the main benefit of buying a car with cash is that you are covering the entire purchase in one go. No loans, no additional deposits, nothing; it’s all yours, it’s all paid off, and you can drive it away on the spot. There aren’t any extra charges, so the asking price is exactly what you’ll be paying. There’s also an ego boost that comes with paying via cash; a feeling that you can walk into a showroom and buy a snazzy motor just like that. But on the downside, how many people could actually afford to buy a car with cash there and then? It could also lead to spur-of-the-moment decisions that you may deeply regret in the aftermath, and there is no way of retrieving that massive amount that you have just spent. What’s more, a finance plan may allow for special offers and related incentives that you can’t get from buying a car at the showroom and taking it away on the day.

Everybody’s financial situation will be different, and that will be the biggest deciding factor in how you decide to pay, because a wealthier individual may deem cash to be the way to go, whereas a driver with limited funds may prefer the security that comes with a finance plan. And for motorists who have bought cars in the past, they themselves will have an idea of what method works best for them, possibly through their mistakes of purchasing cars in the past. Either way, the points listed above will hopefully steer you in the right direction when the time comes to buy that car you’ve always wanted.

As part of our services we deliver the car to your premises of choice within the UK. Lately we have delivered cars in most major towns including the Southern cities & midlands: (London, Birmingham, Leicester), Northern cities (Manchester, Liverpool, Sheffield, Leeds, Newcastle), and Scottish cities (Edinburgh, Glasgow).