Car Loan Intro

Buying a new or used car is a major purchase and you should understand the fees and interest rates you will pay if you finance the purchase.

Firms offering such finance have a duty to disclose all the necessary detail.

The problem is that most car finance conversations happen after you have found the car you want, and the disclosures then make it hard to gracefully do a proper comparison when the 'deal is on the table'.

This page will help you understand where the market is before you talk about finance with a car dealer or seller.

Car loan interest rates always seem higher than home loans, and the temptation is to add to your mortgage for the car. But remember a mortgage can last for decades, whereas a car loan is usually 48 months or less. The shorter the loan term, the less total interest you are likely to pay (despite the interest rate). Use our calculator here to compare.

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