Car Finance for Women

09-May-2008

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Car Finance Options

Most of us don't have arm-breaking wallets like Paris Hilton and Victoria Beckham, so you might have to consider professional financial assistance to buy your dream car. But how do all the options stack up? And which one suits you best? AutoChic will take you through your options...

Personal Loan

This is the most straightforward finance option. You borrow money from a finance company to buy a car and then you make weekly, fortnightly or monthly repayments at a fixed or variable interest rate. That's the main bones of it.

Secured car loan

With a secured car loan, a finance company loans you the money to buy your dream car. It's your car as soon as you buy it, but you of course have to make regular repayments. This type of loan has a lower interest rate than a personal loan because if you miss an agreed amount of payments, you'll have to hand over your car keys to the finance company!