How To Buy A Car: PCP? Loan? Hire Purchase? - YouTube

buying a car means passing with a shedload of cash but paying in the right

way could mean your new set of wheels ends up costing you a whole lot less I'm

going to teach you the best way to pay for a new car whether you're buying

brand new or used you can get a breakdown of the pros and cons of what

I'm about to explain and the link below

if you've got cash to see in the savings account you haven't earmarked for

something specific because you work while using it pays for at least part of

your new car the more you can put down as cash the better the bargaining power

that you've got rid of dealerships you can and should use this to negotiate

down the price right now it's doubly worth looking at savings rather than

borrowing because interest rates on savings accounts are so very low they're

actually likely to be leaving me buying power over time sit inspected to use

that money somewhere else but don't make the mistake of paying for your whole car

with cash though you should say at least a pound on your credit card for the UK

section 75 protection and that means your credit card company is jointly

responsible for the purchase and they have to put something right if something

goes wrong with your car if you'd be used cashing and saving just make sure

that you don't leave yourself without an emergency fund

and after otherwise we won't have anything to fall back on if you get an

unexpected bill if you need to borrow a cash to pay for your new car then don't

make the mistake of going with a deal off the to you by your dealerships

without shopping around first they're unlikely to be the cheapest and

Commission to what they offer without comparing your options could mean your

new car for 200 it's not thousands of pounds more instead you need to figure

out three things firstly how much do you actually need to borrow secondly how

much can you pay back a month and thirdly how long do you need to borrow

for once you've got the confirmation you should start comparing your options it's

what they are firstly the personal loan could be a brilliant way to borrow

because rates are so cheap at the moment and you can get your hands on the cash

you need quickly without paying back a whole lot of interest you'll also have

the certainty of owning your car outright

and I have repayment plans that spread the cost

over the fixed period what you paid the loan off the car is yours forever

secondly a credit card can be a really good way to pay for at least part of

your car especially if you want flexibility either get an or percent

purchase card make an or pretend money transfer which music us to your bank

accounts or pay on a raw reward credit card and get the cash back as purse just

make sure you pay it back as soon as possible thereafter so you're not still

paying back the balance when you're going to be charged interest 13 higher

purchase plans can be worth checking out if you don't have a lot of cash to

commit out front the downside is you don't actually own

your car until the whole balance is repaid which isn't great the dealership

is likely to offer you one of these that don't commit before you shop around if

independent car finance plan can also be a lot cheaper falsely personal contract

plans or pgps are really popular but they aren't generally the best way to

pay because you don't actually use and own the car by the end of them you pay

the project and then six monthly payments tituba for you and you don't

have the option of either giving the car back all paying off the big balance at

the end it's so easily to get sucked into a cycle of automatically upgrading

off your PC's new contract comes to an end but it's actually a really expensive

way to pay and you don't end up owning your car at any point which is the best

option for you depends on how much you need to borrow and how long you need to

pay it back over go for the option the works out cheapest and means you

actually own your car at the end of the term otherwise essentially you're paying

money for nothing your credit rating will also have an impact on the amount

you're charged in check whichever option you go for so make sure you check out

the link below for a step-by-step guide on how to make it better so that's how

you can work out the best way to Pei Xian your car thanks for watching

I think page helps you save a bundle so please like and share the video if you

put any questions comment below and I'll do my best to help happy driving