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Finance Options
Thought you couldn't afford your dream 'stang? There are a few options
available to you: We at Stangs like to take the "hassle" out of any transaction, and will
supply all the necessary paperwork for you to work with any of these finance
options. The rules of the FSA (Financial Services Auhority) prevent us
from giving advice on these matters, but we can make you aware of some of
the options: Bank / Building Society Loan A bank or building society will loan you money
if they can see that you will pay them back.
There are two ways to assure them of this,
either give them a "guarantee of security" (e.g.
your house or the car itself), and show them
that you are making a sizeable deposit
(investment in the car directly) and that you
want them to loan you the rest of the cash. In this case, you will need details of the
car - which we are happy to provide. Note
that some Building Societies will give
preferential rates to customers who also have
their mortgage with them. Specialist car finance firm Stangs have found a specialist finance firm
that work by using the car as security.
Once again, they need to feel secure that you
will repay the loan amount. This is done
with a minimum deposit figure (usually 20% or
more), which shows them that you are willing to
put your own money into the car. There are many payment options available,
from 36 months to 48 months, with or without a
"balloon payment" at the end of the term.
With many schemes there is the opportunity to
terminate the finance agreement early, with
settlement of outstanding finance. Re-mortgage (equity release) Another popular scheme is to use the
ever-increasing property value of your home to
release cash - this is often the most
cost-effective way of borrowing cash, although
the overall payback is compounded over many
years, so may not suit everyone. Note that all finance is subject
to status and underwriter approval, and that all
finance models will place the vehicle on the UK HPI
database.
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