Used Car Finance – Why it’s right for you!

Should I Buy a Used Car?

As soon as the first car started its engine, it became a used car. The millions of motors that have rolled onto the roads since then are all used and will be until they are retired.

So why do people balk at the idea of buying used cars? Sure, there are a lot of tired old engines with plenty of issues, but there are hundreds of thousands of used cars in perfect working order just waiting for a new owner to come along.

How do you know which is the best deal for you? That’s where we come in. Financing a used car through a trusted provider like Match Me Car Finance gives you more peace of mind than buying from a used car dealer. We work with trusted lenders and suppliers of used cars and ensure that every vehicle we find for you is in tip-top shape and will be everything you need.

 

How does Used Car Finance Work?

Just like financing a brand new vehicle, our used car finance plans break down the cost into manageable monthly payments. This allows you to get the car you need for work, leisure and the school run without needing to break the bank.

As a broker we never charge you any fees for our service and will match you with a lender who suits you and your needs perfectly.

Unlike other car and vehicle finance providers, once you’re approved we use our technology to find you a list of cars that suit you and your budget.

 

Used Car Finance Advantages

There are many advantages to looking at the selection of used cars when looking at vehicle finance options.

1. Fixed Costs – When you’ve signed your agreement you will know exactly what you need to pay every month. This can help you balance your budget and get you the car you need for a lot less than a single lump payment.
2. Higher Quality Options – By looking at used options you are presented with a much wider range of options. By getting a used car on finance you can buy a luxury saloon for a similar price than a new hatchback, giving you much more for your money.
3. Build your Credit Score – If you have bad credit or are looking for ways to boost your credit rating, getting a car or vehicle on finance can be a good decision. This is because it shows to lenders that you can pay large sums in regular payments. You must make all of your payments on time though.

 

Used Car Finance Disadvantages

Financing a car may be more affordable than buying directly, but there are still things you should consider before committing.

The main thing is you won’t own the car until the final monthly payment is made. Until this point the finance company owns the car. You can potentially sell the car before the end of the agreement but you must gain permission from the finance company first and repay any outstanding finance first.

You will also be charged interest on your monthly payments. But, unlike some companies, Match Me Car Finance make it clear from the start what percentage you will pay so you can be sure of the overall cost.

If you were to take out a PCP deal and decided to return the car after the agreement ends then any wear and tear the financed vehicle receives while in use can result in penalties. This can include:

• Bodywork scratches
• Interior damage
• Engine wear
• Excess battery drainage

 

Am I Eligible for Used Car Finance?

Not everyone can finance a car. If you have bad credit some lenders will reject your application. With Match Me Car Finance you can find out if you are eligible in seconds with our free calculator and match you with the right finance providers. We work with a panel of lenders who offer credit for all types of credit rating, from BAD to EXCELLENT, who want to finance a vehicle for you.

Finding out what car finance could cost you is free and won’t affect your credit score. Our lenders use soft search technology to pre-approve customers without leaving a hard search on your credit file. It will only show up as a hard search when you proceed with the finance to show that you have an active credit agreement. If you choose not to proceed, only you will be able to see the search.

We can’t guarantee an approval but Match Me Car Finance can give you the best chance at finding a lender.

If you have been declined for car finance, don’t worry, there are still options for you! We work with other companies who offer in house finance on their own vehicles. These companies will assess your affordability and circumstances, as opposed to your credit rating.

Get in touch

If you’d like to learn more about car finance, check out our blog for informative guides about new and used cars on finance.

To find out more about our services, please get in touch for a chat.