Negative equity car finance
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We’re a credit broker not a lender. Rates from 8.9% APR. Representative APR 11.9%
Representative Example: Borrowing £25,000 over 4 years with a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed) and a deposit of £5000.00 the amount payable would be £362.01 per month, with a total cost of credit of £7,376.69 and a total amount payable of £17,376.69. Based on 6,000 miles per annum, excess mileage charges will apply if this is exceeded. Finance subject to status 18+ only.
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What is Negative equity car finance?
Car finance is a common alternative to purchasing your next car outright and involves an agreement with a lender to pay over an agreed time period.
Negative equity car finance helps individuals who owe more on their current car loan than the vehicle is worth, allowing them to roll over the remaining debt into a new car loan.
Your payments can depend upon what car you decide to purchase, how long you wish to purchase it over, whether you wish to own the car, and how much you wish to pay upfront.
Why Choose Negative equity car finance?
Here at Fast Easy Finance, we’re committed to transforming lives, quickly and with no hassle. With a dedication to excellence and a commitment to unparalleled customer satisfaction, here`s why you should choose us:
What is negative equity car finance?
-Negative equity car finance helps individuals who owe more on their current car loan than the vehicle is worth, allowing them to roll over the remaining debt into a new car loan.
How does negative equity car finance work?
-Negative equity car finance allows individuals with negative equity in their current vehicle to finance a new car purchase while including the remaining debt from the previous loan in the new loan amount.
What are the benefits of negative equity car finance?
-Benefits of negative equity car finance include the ability to purchase a new vehicle without needing to pay off the negative equity upfront, potentially providing a solution for individuals in financial difficulty.
What are the drawbacks of negative equity car finance?
-Drawbacks of negative equity car finance may include higher overall costs due to rolling over debt from the previous loan, potentially higher interest rates, and the risk of becoming trapped in a cycle of negative equity.
What are the different types of Car Finance?
We appreciate there are many different types of Car Finance products for you to choose from, and knowing which one meets your needs best is the key to happy financing. See a few of the different types below.
Hire Purchase (HP)
The loan is secured against the car, and you don't own it until you've reached the end of your agreement and paid the ’Purchase' fee.
A deposit may be needed but there would typically be no annual mileage restrictions.
Personal Contract Purchase (PCP)
The loan is secured against the car, but you don't own the car when the loan term ends.
Instead, you can choose to give it back, use any positive equity as a deposit in a new deal, or buy the car by paying the balloon payment.
Hire Purchase (HP)
The loan is secured against the car, and you don't own it until you've reached the end of your agreement and paid the ’Purchase' fee.
A deposit may be needed but there would typically be no annual mileage restrictions.