If you have savings at the ready for your dream vehicle, then finance may not be for you. But if you need extra cash, or you’d rather keep your savings for emergencies, then vehicle finance can be well worth considering.
Using finance can help you avoid putting other areas of your budget under pressure, especially in an emergency. It can also help you avoid compromising by settling for a vehicle with fewer features, including on-road performance and safety features.
If you already have debt, it’s also worth comparing the overall cost of car finance to your other debt. For example, taking out vehicle finance could make good financial sense if it means you have money left over to pay off a credit card charging higher interest.
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