Things to consider before taking out car finance

Buying a car and opting for financing is a common practice, making it essential to comprehend the available finance options. Before diving into car finance, assess your budget, considering not only the monthly payments but also the overall cost, including interest rates.

When opting for car finance, understand the difference between Hire Purchase (HP) and Personal Contract Purchase (PCP). HP involves paying a fixed monthly amount until the car is fully paid, while PCP allows flexibility by offering the choice to buy the car, return it, or upgrade at the end of the term.