Finance can be a bit of a lifeline when you want to get a new motor, but you should be wary before you consider this option. Check the dealership you’re buying from and do your homework on them. If possible, always opt for finance with the manufacturer of the vehicle, rather than a dealer.
If you’re going for a used car and this is not an option then make sure the monthly repayments are clear, and find out the history of the vehicle. You can do a car check to see if it already has outstanding finance, and try to learn as much about the car as possible.
It’s important to know how long you have to make the payment and whether you can pay off lump sums. Remember finance can get you out of a tricky situation but if you’re in the position to save for a car then do it. Finance is essentially a loan and if personal problems prevent you from paying you could find yourself car-less with the bailiffs at the door.