Best Ways To Finance A Used Hyundai Car or SUV
Buying a used Hyundai is rather a big investment and it is likely to be the second biggest one that you make (behind owning a home).
Fortunately, there are a few different ways that you can finance this purchase to soften the blow and make it a smart investment.
Many motorists are confused about the different ways that you can purchase a used car, so here are the best options that are available to you when in the market for a Hyundai vehicle.
Instead of going to the bank or a loan provider (who often have costly rates of interest), you can arrange finance through the dealership.
Many car dealerships have access to finance products that are unavailable elsewhere, which could allow you to buy a more expensive vehicle, lower your repayments and arrange a shorter agreement.
You can also customise your agreement and you benefit from a fixed interest rate. This is usually fixed against the vehicle, which means that there is no risk to your home.
PCP (personal contract purchase)
Another great way to fund the purchase of a used Hyundai is PCP (Personal Contract Purchase), which will provide you with lower monthly repayments as the future value of the vehicle is treated as the final payment.
This takes into account the expected condition, mileage and age.
At the end of the agreement, you can keep the car after the final payment is made, hand it back to the finance company with nothing more to pay or part exchange and settle the agreement (this can be done at any time of the agreement).
HP (hire purchase)
A more traditional finance method, HP (Hire Purchase) allows you to settle the agreement at any time and you will receive a rebate of interest.
They are quick and easy to arrange, the vehicle is delivered quickly as the dealership is paid directly and the automobile acts as the security and not your home.
You also get additional protection under the consumer protection act.
More about financing a used Hyundai
These are the three best ways to fund Hyundai cars on finance and each has their own advantages.
There are many terrific Hyundai’s on the market, with the i20 and i30 hatchbacks currently scoring highly on value for money and performance.
The Ioniq is a new Hyundai hybrid that is receiving great reviews online for it being well equipped, of decent size and efficient – it could be a superb choice for the eco-conscious driver.
These are just a few of the excellent 2020 Hyundai cars currently available, but there are plenty more and funding them with the above methods will help to make this an easy to manage purchase.