Those days have gone when there were limited ways for car financing.Traditionally, people had to find good bank, they can take out a loan with. Thanks for ever-increasing demand for a new car; nowadays one can find several ways to own his dream car. As, a new car has become as necessary as buying a new home; many car financing companies now can be seen active in the field. Personal contract leasing, lease purchasing or even hire purchase can be your choice if you’re planning on investing in your dream automobile.
Any of the outlined ways can be helpful especially when you want to invest on a luxurious car like Ford, which is beyond your budget. Here I am going to brief you on each of the manner for car financing so you can opt what you’re comfortable with.
Hire Purchase: in this way, a car finance company pays the dealer for you. Only you need to pay the finance company back over a decided time period. What’s more, there is no added charge like VAT that you need to pay the company.
Personal Contract Leasing: if you want to save a bit more on your investment, consider the option which is based on GFV (guaranteed future value). GFV is the value which decides the worth of your car at the end of lease term. Mind that an automobile with high depreciation cost results into a smaller GFV.
Lease Purchasing: If you want to buy a car that is beyond your budget, lease purchasing is the only way to realize your dream. With low monthly payments, you need to pay for a longer term; however with high final payment that is sometimes more than the cost of your car. So, when you’re up to invest on a new car, be careful on this method of Ford car finance.
Any of the outlined ways can be helpful especially when you want to invest on a luxurious car like Ford, which is beyond your budget. Here I am going to brief you on each of the manner for car financing so you can opt what you’re comfortable with.
Hire Purchase: in this way, a car finance company pays the dealer for you. Only you need to pay the finance company back over a decided time period. What’s more, there is no added charge like VAT that you need to pay the company.
Personal Contract Leasing: if you want to save a bit more on your investment, consider the option which is based on GFV (guaranteed future value). GFV is the value which decides the worth of your car at the end of lease term. Mind that an automobile with high depreciation cost results into a smaller GFV.
Lease Purchasing: If you want to buy a car that is beyond your budget, lease purchasing is the only way to realize your dream. With low monthly payments, you need to pay for a longer term; however with high final payment that is sometimes more than the cost of your car. So, when you’re up to invest on a new car, be careful on this method of Ford car finance.
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