Christofer_Lloyd@autovia.co.uk
CASH is king, so they say, but in the world of car finance, the king is dead. More drivers than ever are looking to the ‘monthlies’ instead, reflecting how we pay for many big-ticket items. A remarkable 93 per cent of new cars – and a growing proportion of used cars – are now paid for in monthly instalments. Today there are several schemes, each with their pros and cons, and all of them work in different ways.
Cash prices no longer reflect what most drivers pay, because four £30,000 models could have four completely different monthly repayments, depending on the type of finance, deposit amount, contract length, mileage allowance and interest rate. Cars’ predicted second-hand values affect PCP finance instalments, too.
So, which type of finance do you…
