Car Loan/Secured Car Loan

A Car Loan is a simple arrangement in which the financer loans money to the customer in order to purchase a vehicle. The loan is secured against the vehicle.

Why do I want a Car Loan?

• Contract flexibility. Repayments can be made over ten years if necessary.
• Depreciation and running costs are tax deductable.
• Choice of fixed or variable interest rates.
• Lower interest rates than an Unsecured Loan.

Personal Car Finance/Unsecured Car Loan

Personal Car Finance can also be called an Unsecured Car Loan. This is a simple arrangement in which the financer lends the customer money to purchase a vehicle. Unlike a Secured Car Loan, the loan is not secured against the vehicle.

Why do I want Personal Car Finance?

• Contract flexibility. Repayments can be made over ten years if necessary.
• Can be used to purchase older or cheaper vehicles.
• Depreciation and running costs are tax deductable.
• Loan not secured against the vehicle.