Whether your credit is great or if lay-offs or bad financial decisions you made in the past have left you holding a poor credit score, there’s a smarter way to finance your next car. When you’re shopping for a deal on a vehicle, too many shoppers just look at the price alone. Financing too plays a major role in determining how much you’re going to spend on a new automobile in the long run, so it pays to know your options. A smarter car loan will keep you ahead of the game and satisfied with your new set of wheels down the line, so follow these smart tips for getting a better deal.

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The majority of people wanting a new or used car decide to take out a loan. Taking out a loan means that the lender buys the car for you, and then you have a certain number of years to pay them back the money they spent on the car. Many people have anywhere from 36-72 months to pay back their loan, and depending on how much money you can pay back each month you can choose a shorter or longer loan term.

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Long gone are the days when people save up to a buy a new car. Just this September £2.64 billion worth of new cars were bought on finance schemes when the new 65 plate registration came out.

With finance and leasing schemes offering great deals on the newest makes and models, more people than ever are choosing not to spend their savings on owning a car anymore.

Buying a new car on finance is more popular than ever. Figures from the Finance and Leasing Association suggest that around 8 in 10 cars are now bought on finance. With big dealers offering amazing payment plans and corporate employees like the NHS offering leasing schemes it’s easy to see why.

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When it comes to applying for a car loan, regardless of whether it’s through a bank, dealer finance or other institution, the criteria are designed to ensure you’re a risk worth taking. Ideally, you will have a solid track record, but even if you’ve never had a loan before, have a bad credit history or limited funds in your account, here are four tips for getting finance.

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While it may sound like yet another generic, business term, asset financing is something that holds genuine value in the world of entrepreneurship and business start-ups. It essentially refers to capital that is released to start-ups by lenders, for the purpose of investing in assets that will help them to execute their business plan. Whether this is a new computer or a commercial fleet, it is a necessary investment that enables your business to accumulate wealth and generate revenue.

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