Car Loan

Car Loan

The main types of car loans available are Hire Purchase and
Manufacturer´s schemes Hire purchase car finance is arranged by
car dealerships, and effectively means that you are hiring the
car from the dealer until the final payment on the loan has been
paid, when ownership of the vehicle is transferred to you A
Manufacturers’ scheme is a type of loan that is put together and
advertised by the car manufacturer and can be arranged directly
with them or through a local car dealership You will not be the
owner of the vehicle until you have repaid the loan in full, and
the car will be repossessed if you default on repayments

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Tags | car, dealership, dealerships, Finance, loan, loans, manufacturer, purchase, repayments, result