Finding Car Finance in Market Harborough

If you're looking for car finance in Market Harborough, you're in luck. There are a number of options available to you, from traditional banks and lenders to online finance companies. Here, we'll discuss the different types of car finance available in Market Harborough and how to find the best deal.

Bank Loans

One of the most popular methods of car finance in Market Harborough is a bank loan. You can apply for a loan from any of the local banks in the area, such as NatWest, HSBC, Lloyds, and Barclays. When applying for a loan, you'll need to provide proof of your income and other financial information. The bank will then assess your application and decide whether to approve or reject the loan.

Dealer Finance

Another option for car finance in Market Harborough is dealer finance. This is where you take out a loan directly from the car dealership. The dealership will usually offer special deals and discounts, so it's worth shopping around to see what's available. It's important to remember that dealer finance can be more expensive than other forms of car finance, so make sure you compare the terms and conditions before signing up.

Online Finance Companies

Finally, you can also look into online finance companies for car finance in Market Harborough. These companies can often provide you with a much better deal than a traditional bank or dealer, as they don't have the same overhead costs. It's important to do your research and compare the different companies before committing to one, as some may have hidden fees or charges.

Conclusion

Finding car finance in Market Harborough doesn't have to be difficult. There are a number of options available, from traditional banks and dealers to online finance companies. Make sure you compare the different options and read the terms and conditions before signing up. With the right car finance in place, you can get the car you want and drive away happy.

What to Do if You're Refused Car Finance in Market Harborough

Getting refused car finance can be a frustrating experience. You may have found the perfect car and have your heart set on it, only to have your dreams dashed when your loan application is denied. But, if you've been refused car finance in Market Harborough, there are still options available to you.

Check Your Credit Report

If you've been refused car finance, the first thing you should do is check your credit report. This will give you an insight into why you were refused and will help you to take steps to improve your credit score. You can get a free copy of your credit report from a credit reference agency.

Shop Around

It's important to shop around and compare different lenders. Different lenders have different criteria for approving loans and it's worth looking around to find one that is more likely to accept your application. You may also find that some lenders are willing to offer more competitive rates.

Improve Your Credit Score

If you have a poor credit score, you may be able to improve it by making regular payments on time. This will demonstrate to lenders that you are capable of managing your finances responsibly. You should also make sure that any information on your credit report is accurate and up to date.

Consider a Guarantor Loan

If you have been refused car finance, you may want to consider a guarantor loan. This is where a third party agrees to guarantee your loan. This can make it easier to get approved, as the lender will have the assurance that the loan will be paid back even if you are unable to make the payments.

Save Up for a Deposit

If you're having difficulty getting approved for a loan, you may want to consider saving up for a deposit. This will reduce the amount you need to borrow and may make it easier to get approved. It will also reduce the amount of interest you have to pay over the life of the loan.

Conclusion

If you've been refused car finance in Market Harborough, don't despair. There are still options available to you, such as checking your credit report, shopping around, improving your credit score, considering a guarantor loan, and saving up for a deposit. With a bit of effort, you should be able to find a loan that meets your needs.