Car Loan

A Car Loan is a finance product where the financier lends the client the money to purchase a car and this loan is then secured against the car. Generally, a secured loan, will offer a lower interest rate than an unsecured personal loan. This is because the vehicle itself becomes security for the loan – reducing the risk associated with it. A deposit may not be required. However a client can choose to pay a deposit to benefit from lower repayments or a shorter loan term. The interest rates & repayments are fixed for the term of the loan.

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