Affording A Family Car

When your family expands you might find that the two seater convertible you bought when you were 20 just isn’t practical anymore. It can be stressful trying to find a car which is large enough for your family as well as economic on the road.

The price of a large family car can be pretty steep, and because of this you can end up with a massive loan to pay back alongside all of your other bills and family costs. It can mount up so much that you question whether you can afford a car at all.

But not to worry, we have some ways you can afford a car for your family without having to worry about anything…

Scrappage

Some car manufacturers will give you the chance to put your old car up for scrappage in return for money towards your new vehicle. This is a type of funding that has been around for years and it will make buying a new car much easier for you and your family. Simply give your car in and they will offer you up to a couple of grand for the scrappage, which you can put towards a family car of your choice.

Government Grant

One of the bonuses with the rise of the electric car is that the government are encouraging people to buy them. The reason for this of course is that many countries are now trying to do all they can to reduce CO2 emissions and make the world more sustainable. It means that if you find an electric family car, you could be given a government grant in order to buy it. It can cover up to 35%of the cost of the car!

Part Exchanging

A very popular way that people use to save money on a car is to part exchange their old vehicle. This involves essentially selling your car to the dealer in order to get a discount off the full price of a new car.

Use Finance

These days many people decide to use a finance deal in order to pay off their car. This means that the value of the car will be split up into a term of approximately 3-4 years, and you will pay a chunk of this each month and finish the loan with a balloon payment if you want to keep the vehicle at the end. If you don’t, you can use the value of the car to put towards a new one.

Bad Credit Car Finance

The idea or getting a guaranteed personal loan might be a little bit of a pipe dream if you have bad credit, however there are some schemes which you can use to buy a car even if your credit score isn’t too great. This is a great option if you have fallen a little on hard times and have a bad credit rating. It means you still have a chance to purchase and own a car for you and your family.

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