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Financing the second most expensive purchase you'll ever make

In the world of loans cars come second only to houses: for most of us, our car is the second most expensive purchase we'll ever make (unless of course you decide to live in a caravan and drive a Ferrari). As a result there are plenty of loans on offer.

In the world of loans cars are big business: for most of us our car is the second most expensive thing we've ever bought (your house is, of course, the most expensive – unless you live in a shed and drive an Aston Martin). That means that getting finance for your vehicle is easy, although there's a huge range of packages to choose from.
When it comes to loans cars are usually financed in one of three ways: through a finance deal arranged by the dealer (or a lender affiliated with the dealer); by a standard personal loan; or via a personal contract plan. A personal loan is the simplest, although some dealers offer 0% finance deals that can be worth considering. Personal contract plans are more complex: generally you borrow around half the value of the vehicle. At the end of your contract period you can either pay a few thousand pounds to own the vehicle outright, walk away or start a new contract for a new vehicle. Although a personal contract plan is a good way to finance a new car, it's worth noting that there are generally strict mileage limits. helps you find the best loans companies for your specific needs, and gives you background information on the various types of loans available in our loans articles, more loans articles and still more loans articles.

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