Vehicle Finance
Spread the cost of a car over a term that fits
Vehicle finance lets you buy a car outright and repay the cost over an agreed term. Because you buy the car rather than lease it, it is yours from day one — there is no mileage limit, no condition charge, and nothing to hand back.
How this differs from dealer finance
Many dealership agreements are structured so that a large final payment is due at the end, or so that you return the vehicle. That can suit some people, but it means you may finish the term owning nothing.
This is a straightforward loan: you own the vehicle, you repay the amount borrowed plus interest in equal instalments, and when the final payment clears there is nothing further to pay.
Budget beyond the monthly payment
Insurance, tax, servicing, tyres and fuel all continue regardless of the loan. A repayment that looks affordable in isolation can become tight once running costs are added, so work out the full monthly figure before deciding.
Matching the term to the vehicle
As a rule, avoid borrowing over a term much longer than you realistically expect to keep the car. Still paying for a vehicle you no longer own is the most common regret with this kind of borrowing.
Common questions
Can I buy privately?
Yes. Funds go to your account, so you can buy from a dealer or a private seller.
Is the car used as security?
No. This is unsecured lending, so the vehicle is not collateral.
