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Guide to the Common Dealership Terms When Buying A Car

Car Examer

APR (Annual Percentage Rate) APR is the interest rate on any car financing, shown as an annual percentage. Deposit Contribution A deposit contribution is essentially a discount offered by the dealership or manufacturer when you finance through their specific program.

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Car Finance Mis-Selling: What’s Really Going On?

Car Examer

Car finance has made it easier than ever to own a car, with options like PCP (Personal Contract Purchase) and hire purchase helping people spread the cost over time. But beneath the promise of “affordable monthly payments,” there’s a growing issue that’s catching more attention: car finance mis-selling. The result?

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What is a balloon payment?

Auto Express

If youve ever taken out a PCP car finance deal, you may have heard of a balloon payment. If youre unsure exactly what it is, were here to help.

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Should you pay cash or finance your new car?

CarExpert

There are two main options when it comes to paying for a new car: you can either pay the full sum upfront, drawing on existing savings, or you can opt for a finance package that involves taking out a loan and making periodic payments over a set term. “There are many different ways that someone can structure a finance loan. .

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How does dealer finance work?

CarExpert

And does it make sense to pay cash or take a finance deal? Even after crossing those bridges and reaching the conclusion you’re ready to organise a loan for a fresh set of wheels, one question still remains – should you finance through the dealer, or look elsewhere? So, how does dealer finance work?

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Tesla offering 1.99 per cent finance on Model 3

Drive.com

Tesla buyers looking to finance their Model 3 could be eligible for a 1.99 The latter is defined as as a combination of “the interest rate plus certain fees and charges related to the finance”, according to brokerage firm Stratton Finance. per cent finance on Model 3 appeared first on Drive.

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Why Tesla sales have tanked and why the price will keep dropping

CarExpert

At the end of your lease period, you have the option of paying a balloon payment on the vehicle (that is the cost of the vehicle depreciated in alignment with the government schedule), refinancing the vehicle to continue paying a monthly rate or, in some circumstances, just handing the car back. And in some cases that works.