The new year sees many of us starting it off by trying new things. Most of us might be looking for that amazing new diet to help us lose weight, a new technique to help us quit smoking or cut down drinking, or searching for somewhere local to start that new hobby you’ve always wanted to give a go. The New Year is a chance to break from bad habits. And that can also be said for car buying.

If you’ve been looking to change your car, you might have been counting the pennies and hoping you can save enough to buy something new. But there’s a new way for you to try buying your new car in 2022. Car finance.

Why car finance?

The key selling point of car finance is that you can spread the entire cost of the car across the length of the car finance agreement. So you don’t have to have one big lump sum to pay for the purchase. While this does mean you will be paying interest on the amount borrowed, it also means you don’t have to have saved as much money if you were to buy the car outright. 

Flexible finance products

When it comes to car finance, there are a number of different products to choose from. If you want to simply spread the cost of a car across a set period of time, than something like a hire purchase agreement would be the best choice. But, if you want to change your car more often, think you might have a change of personal circumstances over the next few years (e.g. new job or starting a family), or want to drive the most recent makes and models more often, then something like a personal contract purchase or car leasing deal might be better suited.

In these sorts of packages, you effectively hire the car for the length of the finance agreement. That means the monthly payments are generally lower. You can also choose to buy the car at the end of the agreement, or return the car to the lender and choose another vehicle for a new finance package.

More choice with car finance

Car finance can give you a lot more choice when it comes to buying your next car. If you had to choose a vehicle based on the amount of money you have saved, you might be limited to older models in a poorer condition. With car finance, you can base the car on how much you can afford to pay each month. So you could be driving new or nearly new cars, taking advantage of improved safety features, more economical engines, and fancier in-car entertainment and comfort options.

How can I tell what I can afford?

You can find out what sort of finance packages are available to you by using the Creditplus car finance calculator. This will give you a quick overview of what you can afford to borrow. You might be surprised at just how much you could afford.

New year, new you

Why not get a no-obligation quote today and see if there's a perfect car to start your year right.