Finance

It's relatively easy to get confused when it comes to car finance. There are many variables and, if you're not careful, you may end up paying more than you have to.

• You might think we're jumping the gun by talking about finance now, but it's never too early to start thinking about it. Dealers love buyers that haven't done their homework and uncovered the competitive rates they can get. Leave it to the last minute and you could lose all the money you've saved haggling and getting a decent price on your trade-in.
• Do your research. Find out the deals that the manufacturer currently has on offer. These might include interest-free or low APR rates, or even deposit contributions. Manufacturer websites are a good place to check.
• Compare like for like. Check all the details and don’t just focus on the rate or monthly repayments. Look at the total repayable amount to understand exactly how much a loan will cost you over its lifetime.
• A dealer should provide you with a written quote upon request, so don’t be fobbed off with excuses. Get everything in writing, so you can confirm an offer later.
• Shop around. Don’t assume that the dealer is the best place to get your finance. Many internet companies now provide competitive loans.
• Haggle. A salesman will not offer you their best deal straight away. Bargain hard and you could make some worth-while savings.
• Don’t be talked or tricked into something you’re not sure off. It’s easy to get confused with numbers, so if you unsure of something say so. Don’t sign anything that you don’t understand.