Car Loans For New Cars – Here's What You Need to Know
Getting car loans for new cars
Have you found a new car that you are desperate to call your own? If you’re looking for a car loan for a new car, we can help. We are passionate about helping people to get the right new car finance for them and we understand the importance of getting you on the road, in the car that you love, as quickly as possible.
There are many benefits to getting a car loan for a new car, including lower rates than loans for used cars. If you’re tempted by a car loan for a new car, we’ve got all the information you to get started with your car loan.
What do you need to get new car finance?
You can save a lot of time by having all the right information and documents prepared in advance of applying for your loan. This could speed up the whole process and make things easier for everyone.
To help you as efficiently as possible, we’ll need some information- both for ourselves and to pass onto the lenders who we work with. It’s also essential that you have the following documents to get your new car finance approved:
- Proof of ID – usually a driving licence or a passport
- Proof of income – either pay slips or bank statements
- Credit history
- Proof of residency
- Vehicle information
- Proof of insurance
What should you look out for?
We’ll be with you every step of the way, so you can always ask us for help and advice if you’re unsure about anything. However, it’s good to have a bit of an understanding about the different finance deals on offer when you’re looking for a car loan for a new car.
You need to be aware of factors such as:
- Fees and interest rates – speak to us if you’re unsure whether these are fair for your car loan
- Repayment rates
- Due dates for payments – it’s essential that you make a note of these to avoid missing or defaulting on payments
- Insurance requirements – you need to have these in place before your car loan will be approved and they can vary between lenders
Before any credit agreement is entered into, your lender should always provide you with information about your rights and responsibilities in the form of a written contract. This can include information about key factors such as interest rates and fees.
It’s really important that you budget carefully before getting new car finance. This will mean that you don’t stretch yourself too much financially and avoid missing or defaulting on repayments.
However, if you are struggling to make repayments, speak to your lender as soon as possible about your situation. There are various options in a situation like this – none of which are ideal – but it’s far better to ask for help than struggle in silence and store up problems long term.
Choose Positive Lending Solutions for new car finance
At Positive Lending Solutions, we have decades of experience helping people to find the right new car loan for them. We aim to always make the process as quick and efficient as possible, always preferring direct communication wherever possible.
We have access to a wide variety of lenders, so we can direct you to the right match for your circumstances. If you're ready to get started, apply for new car finance today.