Top five reasons why dealer finance works for customers

22 November 2024 Dealer and Customer News Read time 3m
a motor dealer and customer signing a contract

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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).
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