At Red Potato we know from customer experience that purchasing a car can be quite overwhelming. There are a number of things you need to consider and sometimes it can be difficult to know where to start.
To help, we have put together a guide on the process you should take. In this post we take a look at the first step in this process: how you will pay for your new car. Or if you want more information on you can download our complete car buying guide here.
Step 1: Sort out your finance first!
The first thing you need to consider when looking to buy a car is how you will pay for it. Once you have this sorted you can then start looking at cars within your price range.
Car financing is quickly becoming a more popular car buying method. This is because you are able to spread the cost over time, making it more affordable.
From hire purchase to leasing, there are a number of options for you to choose from. The most important thing is that you choose a finance route that you can afford. This means deciding how much of your monthly income you can realistically allocate towards your car each month.
Check your credit score
One of the main things lenders will look at when you apply for finance is your credit rating. A poor credit history will reduce your lending options and typically increase the interest rates you will be eligible for.
If you’re unsure what your credit score is then it might be worth finding out so you know what companies you can apply for finance with.
Apply for finance
Luckily car finance brokers such as Red Potato don’t base their lending decision on your credit history. Instead, they consider each application and make a decision on your situation now.