Is your credit score healthy?
A poor credit score could mean paying a higher rate of interest, and if this is the case, look to pay as much upfront as you can to bring the total cost down once interest is added accrued. If it's good, you may be more likely to be offered the advertised rate, giving you access to the car you want sooner. Regardless of your personal credit score, our friendly Lookers teams will be able to help you.
Are you buying new?
The value of a new car usually falls by around 20% immediately after purchase. If your chosen deposit is less than 20% and you wanted to sell the car early into your agreement, it could be worth less than you would need to settle your finance. This fall in value – depreciation – also applies to used car values, but usually at a slower rate.
What do your future finances look like?
Try to predict your future financial situation and how this will impact on your ability to meet payments. You should think about any life changes that you know about which will affect your ability to pay such as new additions to the family or a known change in your income.
For further guidance on choosing the right finance plan for your circumstances, contact the expert team at your nearest Lookers dealership.
