Arranging Car Finance and Selecting the best quote

Now is the time to decide which car finance package is the best for you and your situation. Interest Rates-When comparing quotes, the interest rate is of obvious importance. Don’t fall into the trap of using interest rate alone to compare your options. Comparing comparison rates, monthly repayments and other loan features can give a much larger picture of what a particular finance package actually costs. Fees & Charges-Fees you may encounter include an upfront establishment / settlement fee, ongoing account-keeping fees, “special” once-off fees (for example, to provide an account statement) and early payout fees.

A low interest rate can hide very hefty fees that make a finance package much more expensive then it seems. Payout Penalties & Retained Interest-This is distinct from a payout fee, and unfortunately it can be very hard to ascertain how much interest a particular lender retains. Flexibility is fairly clear-cut: will the lender give you what you want?  If you are aiming for a large residual or have a less-than-perfect credit history you may find that your choices are more limited.