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Guide to the Common Dealership Terms When Buying A Car

Car Examer

Here’s a straightforward guide to the most common dealership terms you’ll hear at UK dealerships. Understanding these terms can help you feel more confident, negotiate better, and ultimately drive away with a great deal. It’s worth comparing APRs from different lenders, as your credit score and loan term will affect the rate offered.

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How does dealer finance work?

CarExpert

The loan may or may not include an upfront deposit, or a ‘balloon payment’ – a one-off lump sum you agree to pay your lender at the end of the loan term. Some manufacturers and dealers have a dedicated in-house financing arm, while others outsource the process to an approved financier.

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Buying a car this weekend, check out these offers

Drive.com

For more information, including the terms and conditions, click here. For full terms and conditions, click here. The loan term must be over 36 months, and customers must make a 10 percent deposit. The finance loan has a maximum 30 percent balloon payment. For full terms and conditions, click here.

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2024 Skoda Kamiq Run-Out review

Drive.com

When estimated to equal terms – a four-year finance term, zero deposit, 15,000km annual allowance, and an equal balloon payment, where possible to set it on each brand’s website – the Kamiq costs $120 per week (at a 6.99 per cent comparison rate), a Seltos S is $129/week at 9.8