Top five reasons why dealer finance works for customers
22 November 2024• Dealer and Customer News• Read time 3m
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Approval - As the finance company retains ownership of the vehicle until the final payment is completed, this security increases the likelihood of individuals being approved for financing, as compared to a personal loan.
Convenience - Customers can visit a car dealership, choose a vehicle and discuss finance options with a specialist, all in the same place.
Payments - The interest and monthly payments are fixed at the outset, making budgeting easier.
Acceptance - People with past credit issues or no credit history are more likely to be accepted for motor finance than with a personal loan because of the secured nature of the agreement.
Reassurance - Car dealers offering finance are credit intermediaries authorised by the Competition and Consumer Protection Commission (CCPC).
Earlier this year we commissioned independent research agency Ipsos BandA to speak to our partners to get a real understanding of their views of the industry and here's what we found.
The Central Bank of Ireland plays a vital role in regulating advertising for financial services and products. Their guidelines, outlined in the Consumer Protection Code 2012, set the standards that all lenders must follow.
