Unlocking your options: Financing a wide range of used vehicles
When it comes to financing a used vehicle, the options are as diverse as the array of vehicles in the used market. Whether you’re eyeing a reliable family car, a works van, or a sleek sports car, financial solutions are available to match your needs and preferences.
Everyday used Cars
From compact cars to spacious saloons, everyday used vehicles are a popular choice for financing. These vehicles are typically within a reasonable age and mileage range, making them accessible for various financing options, including traditional vehicle finance and personal loans.
SUVs and Crossover
SUVs and crossovers are becoming increasingly popular due to their versatility and capability. Financing options for these vehicle are abundant, allowing you to choose a financial solution that suits your preferences, budget and intended use.
Trucks and Vans
For those looking for a vehicle for business use or are simply in need of the utility and cargo space vans and trucks offer. Financing for these options cater to both personal and business needs, ensuring you can secure the right financial package for your requirements.
Luxury Cars
If you aspire to own a luxury vehicle, financing is a viable path to turn your dreams into reality. The financing options for luxury cars allows you to enjoy the sophistication and comfort of high-end vehicles.
Sports cars
Sports cars are known for their speed, style and more often than not – price tag. Financing options are available to make these performance machines more accessible, allowing you to hit the road in style.
Electric and Hybrid Vehicles
With a growing emphasis on sustainability, financing options for electric and hybrid vehicles are increasingly prevalent. Various financial solutions cater to environmentally conscious buyers, making eco-friendly driving more affordable.
Classic and Vintage Cars
For aficionados of classic and vintage cars, financial solutions are tailored to cater to the unique nature of these vehicles. The primary finance product for such cars is often hire purchase, providing a flexible approach to ownership.
Understanding the financing criteria
It is important to note that most vehicle finance providers adhere to certain criteria, including:
- Age and Mileage Limits: Generally, lenders won’t fund vehicles over 10 years of age of with over 100,000 miles. This is due to the increased wear and tear, affecting reliability and depreciation.
- Reputable Dealerships: Many lenders require the vehicle to be purchased from a reputable dealer, ensuring a certain level of quality and reliability.
- Classic Car Finance: Specialised financing options are available for classic and vintage cars, often provided through hire purchase agreements.
Choosing the right financing option
Deciding on the appropriate financing option depends on various factors, including your budget, preferences and the type of vehicle you wish to purchase. Common options include traditional vehicle finance products such as Hire Purchase, Lease Purchase and Personal Contract Purchase, and Personal Loans. While traditional vehicle finance is secured against the vehicle, personal loans offer greater flexibility, allowing you to purchase vehicles over 10 years of age, with over 100,000 miles, or even from private sellers.
Whether you’re eyeing a practical family car, an adventurous SUV, a luxury coupe or a classic beauty, there’s a financial solution tailored to make your used vehicle ownership dreams come true.
Explore the available options and find the perfect financing package for your next ride.
For more information feel free to contact us at enquiries@motorloansrus.co.uk
