Looking for Personal Car Finance?
If you’re in the Llanelli area of South Wales and looking for car finance then please read on.
There are numerous car dealers in the Llanelli area selling a wide range of new and used cars – we’re going to explain why you should consider speaking to us about your car finance requirements. A drive around the various industrial estates and out of town shopping centres, like Trostre, reveal a variety of both new and used car dealers – to the north of the area Cross Hands has multiple dealers.
Whether you’re looking for personal finance for a new or used car, we will do our best to help find you a finance product that works for you.
We’ve helped numerous private individuals in Llanelli over many years to arrange finance for their cars – from everyday family cars to luxury high-end cars.
Types of Personal Car Finance
Hire Purchase for Personal Car Finance
Hire Purchase is similar to traditional bank loan. At the time of purchase a deposit is normally paid (either cash or part exchange) and then the remaining balance is financed via a Hire Purchase agreement. The amount financed is repaid equally over the term of the agreement. The interest rate is normally fixed at the outset of the agreement, so you have certainty that repayments will stay regular throughout the term, regardless of changes in Bank of England base rate.
Lease Purchase for Personal Car Finance
This is similar to a Hire Purchase agreement, however at the outset a final balloon payment is agreed which will need to be repaid at the end of the agreement. By having a balloon repayment at the end of the agreement, you will benefit from lower monthly repayments – however you are responsible for paying the balloon payment at the end. Often people repay the balloon by either refinancing the balloon if they wish to keep the car or by settlement as part of a part exchange agreement on a new car.
General Criteria for Personal Car Finance
As finance brokers, we have a panel of lenders who we can approach to find a car finance facility for you. All lenders have slightly different lending criteria but here’s some general criteria to give you an indication as to whether we will be able to help you:
- Private Individuals aged 21 or over
- Homeowner, Tenant or Living with Family
- Employed or Self Employed
- Retired Individuals may be considered if they have an income
- Car to be purchased from a car dealer (no private purchases)
- Car maximum age either 15 years (Hire Purchase) or 10 years (Lease Purchase) at end of agreement
- Car maximum start mileage 120000
- Electric Cars generally have different maximum ages / mileage criteria (please contact us)
- Terms of agreement generally a maximum of 5 years
My Llanelli car dealer offers finance, why use you?
Although many car dealers use in house finance, they are not always the cheapest option for you – in fact more often than not we can get you a cheaper option. Sometimes we have saved £20 / £30 per month for clients – it may not sound much but when you consider that an agreement may be for up to 60 months – that’s a lot of money!
Recently we have been made aware of some car dealers in the Llanelli area who are refusing to allow you to use your own finance when purchasing a car from them. If your dealer does this, please stop and ask yourself why this would be and whether you really want to deal with them. Chances are you are not getting the best deal and the car dealer is possibly earning significant fees on the finance they offer, as well as profit from the sale of the car. There are still plenty of dealers who allow you to use third party finance of your choice so shop around.
Is it easy to apply for personal car finance?
Yes, we aim to make the application process as simple as possible – however as all the lenders we use are responsible lenders they will require certain personal information from you.
Initially we ask you to complete the basic online form below which will give us enough information to be able to provide you with an indicative quote.
If the quote is of interest to you, and you would like to apply for personal car finance, then we will contact you for a few further details which will include an identification check (via Driving Licence upload) on our secure portal. Generally a decision is available either immediately upon us making the application to a lender or it may be referred for us to gather additional information from you.
What personal car finance rates are available? Personal Car Finance Calculator
Although not directly linked to Bank of England Base Rate, general changes in interest rates will also be reflected on the rates lenders charge for personal car finance.
When we provide you with an indicative quote, you will be provided with all information of the quote including APR rates.
Personal Car Finance Quote request
In order for us to be able to provide you with a personal car finance quote, we will require some basic information from you – we have kept the required information to a minimum.
In addition to personal car finance, can you help me with anything else?
Yes, we also are able to assist you with finance for Motorhomes, Camper Vans and Caravans. Once again, although dealers in the area may offer finance, we can often better what is on offer. We also can help with specialist vehicles such as funeral cars.
Please get in touch to find out more.
We offer a Free, no obligation service, so please do get in touch and let us help you.