If you’re in the market for a car, there’s a good chance you’re also thinking about a car finance loan.
It’s the season for new cars after all, what with all those fresh March reg plates now on the road. And if your car has been struggling to get through winter or is facing an upcoming MOT or service, it might be the perfect time to upgrade.
Buying a new car should be one of the most exciting moments in your life, but it can also bring a lot of stress. From choosing the right model, taking test drives, and of course, figuring out how to pay for it.
If you’re considering a car finance loan, it’s important to step back and think carefully about whether it’s really the best option for you. You might have heard about the ‘Car Finance Scandal’ that came to light in 2019 – and has been in the headlines again recently – which exposed some pretty dodgy practices by dealerships and finance companies.
Many people ended up stuck with inflated car prices, hidden charges, and unaffordable loan terms. This made the car they thought they could afford far more expensive in the long run.
Although the Financial Conduct Authority has stepped in to make changes, the consequences of past deals still leave some people struggling financially today.
So, before you sign on the dotted line, it’s worth taking a moment to consider whether a car finance loan is the right choice for you.
5 reasons why Northern Community Bank leaves a car finance loan in the dust
- You’ll own the car outright. With a Northern Community Bank car loan, you own the car from the start. No renting, no mileage limits, and no concerns about the car’s condition when you return it.
- No hidden fees or commission. Unlike many big finance companies, Northern Community Bank doesn’t charge hidden fees or commission. The rate we quote is the rate you pay – every time. While car dealerships may advertise low “representative APRs” that apply to only 51% of applicants. Northern Community Bank offers transparent, consistent rates with no hidden costs.
- Personalised service and guidance. Our team is dedicated to helping our account holders, offering a personalised service. We focus on providing guidance that’s tailored to your situation, so you can make the best decision for you.
- Better for bad credit. At Northern Community Bank, we take a more flexible approach to credit scores. We’re more focused on affordability. This means we’re willing to lend to people with less-than-perfect credit, helping you get the car loan you need.
- Community-focused and ethical. When you choose Northern Community Bank, you’re supporting a local, member-owned organisation that reinvests profits back into the community, rather than a large corporation focused on profit.
Speak to our team today
Going to buy a car can be a stressful experience, and arranging a car finance loan can add even more pressure. Between pushy sales staff and mounting stress, the whole process can start to become a little overwhelming.
With Northern Community Bank, the only pushiness you’ll experience is us helping you get the best deal – fair, straightforward, and stress-free.