Are you looking for car finance? If so, you have come to the right place. A broker is your best bey whether you are looking for HP, PCP, or a personal loan. This article provides information on some of the most important advantages of using a car finance broker to get a car loan.
Car finance broker or lender – What’s the difference?
The finance broker will act as a middleman between the client and the lender. They have access to a wide range of different finance options because they work with a panel of different lenders. The broker will arrange the finance agreement on behalf of the client but they don’t provide loans themselves.
The lender will loan you the money to purchase the car, and you will have the agreement and pay repayments to the lender.
Why should you use a car finance broker?
PCP, HP, and personal loans are a few of the car finance options available to you right now. In fact, there is a wide range of lending institutions on the market today. It’s important to find the right deal to suit your circumstances. The loan should suit your individual needs & circumstances, be affordable, and work with your lifestyle.
With a car finance broker, you will have access to more than one lender when applying for a car loan. Brokers can match the right lender to you depending on your credit history. They can also check if you have been provisionally approved for a loan, help with the paperwork, evaluate your options, and even help find the best car for you.
Stick to soft searches
Car finance lenders have different processes to check your creditworthiness before approving the loan. For example, when you request a quote, there is no guarantee that the lender will always perform a soft search on your credit history. If the lender performs a hard search, it can impact your credit score. When you apply for a car finance with a broker, they will perform a hard search only when you have decided to proceed with a specific lender. For example, getting a quote from the panel of lenders of the broker won’t have an impact on your credit score.
Purchasing the best car is a complicated and time-consuming process. One advantage of working with a car finance broker is they will help you with the process. When you use our service, you only need one application instead of filling in the same details over and over again on different sites. Our team will check if you have been provisionally approved for a car loan by the lenders on our panel. We will assign a dedicated accounts manager to talk through your options and help find the most suitable vehicle for you. You can be on the road in your new car in a matter of days with our services.
Find bad credit car finance
If you need car finance with no deposit or have bad credit, you may find it difficult to get a car loan. You surely don’t want to waste your time applying to a lender that can’t help applicants with poor credit or ask for a large down payment. But with car finance brokers, you have access to lenders who provide loans to applicants with a variety of credit histories. The accounts manager at CarFinance 247 will help you choose the right finance option and help you get behind the wheel without further delay.