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Spotlight on Finance: Why Buying Your First Car with Finance is the Best Idea


Whether you have just passed your driving test or finally decided to purchase a car for yourself, it can be quite a daunting experience. 

Many of us will struggle to have the cash up front, and it will likely be one of the most significant purchases you commit to buy in your lifetime. In short, it’s an expensive affair that can place a considerable strain on your bank balance. 

Throw in fuel, tax, and the works, and you find yourself scraping by each month to afford your shiny new set of wheels. Finance takes away the strain and turns a potentially stressful buy into an affordable investment. Here’s why we think buying your first car with finance is the best idea:

More choice

Financing your vehicle not only gets you onto the motoring ladder, but it opens up a world of choice that you simply won’t find anywhere else. 

Whether you’re in the market for a small auto or a family SUV, your first car is a significant milestone. Rather than roaming through used car sales pages and meeting up with the rare shady private seller, any reputable car financing lender will put you in contact with the most respected and trusted dealerships around. 

What’s more, you can compare similar models within your budget that you may not have considered and take whichever vehicle you’ve got your eyes on out for a spin. 

New cars = higher safety

Combined with extensive research and astronomical technological advancements in the motoring industry, unsurprisingly, modern cars are safer than ever before. 

Every vehicle sold within the UK must pass every Euro NCAP safety test before it is allowed to be sold to the general public. Throw in rigorous emissions standards and a whole heap of bonus safety features such as anti-lock breaks, stability control systems and the like, and you can see why first-time drivers feel more confident in a vehicle purchased through finance.  

Servicing and warranty is typically included

Totting up all the hours your car spends in the garage is not worth thinking about for some of us. Especially when you are greeted with a hefty service bill that your bank balance will not thank you for! 

One of the greatest perks of purchasing your first car on finance is that servicing and a manufacturer’s warranty is typically included as part of your deal. Then if something goes wrong with your engine, or worse, you won’t have to foot the bill. 

When buying a vehicle through financing, it’s worth checking out all the finer details in your terms and conditions. There you will find everything detailed from mileage to how long your warranty will last. For example, most warranties today cover you for at least 100,000 miles and up to 3 years. 

So if you are buying a new car, you will get a first-class warranty and servicing package attached. That can give your peace of mind a boost as well as your pocket. 

No waiting around

Getting into the driver’s seat and pulling away in your new car traditionally took weeks, sometimes months, to achieve. After saving every penny or applying through the bank in writing for a loan, the next model would be out on the forecourt. 

Today, you can expect almost instant confirmation of your online application. Taking you from your computer screen to signing on the dotted line on the same day. No more waiting around. No more unnecessary stress. 

What’s more, even applicants who have never applied for finance before or have a poor credit score can get their hands on some of the best financing deals around. 

Reputable lenders, who put their customer’s individual circumstances first, tend to be more willing. They will give the first-time financers, the self-employed, or bad credit applicants a chance to build their credit score. That way, the car market is accessible to more people despite the financial challenges you may have faced in the past. 

Tap into the hottest cars on the market

So you’ve been accepted for your loan. And you’ve seen the incredible amount of vehicles available to you on your plan. But have you taken the time to really zoom in on the finer details? That’s not just a new car for you. That’s the most recent, most reliable or performance-driven vehicle on the market you’re looking at! What’s more, it could be yours!

Gone are the days when a clapped out old banger was the only option for first-time buyers. The car market is open to everyone, all because of how flexible and adaptable financing has become. 

Financing has opened up a whole wide world to first-time buyers that were never there before. Are you ready to make your financing application? Apply today, and see what car could be your first buy.