Car Finance | Croydon, London | McCarthy Cars

Car Financing

Financing a car can be a bewildering prospect. There are many options to consider, but which of them is right for you?

There’s also the issue of whether you have a credit rating that will allow you to finance your car. Even if you are able to, where do you stand if the vehicle develops a fault?

At McCarthy Cars, we provide a range of finance solutions, to suit all kinds of budgets.

​Credit ratings

Having a low credit rating will impact on your purchasing options. However, we will always take this into account, and seek to provide you with the most appropriate finance package that delivers the best possible value.

Methods of car financing

When it comes to choosing your finance solution, should you opt for Personal Contract Purchase (PCP), Hire Purchase (HP) or a personal loan? It’s certainly worth exploring the pros and cons that each has to offer. 

PCP is flexible, providing you with the option to purchase the car outright by paying a deferred ‘balloon’ payment at the end of the agreement. Or, you can decide to hand the vehicle back and walk away.

HP is a tried and tested solution. After making regular, fixed-rate monthly payments for an agreed length of time, the car is yours to keep.

A personal loan can be obtained from a bank or building society. Provided you have the necessary credit rating, it’s a perfectly valid way to finance the purchase of your vehicle. However, interest rates will vary from lender to lender, and you will be personally more accountable for the loan amount.

The RAC factor

Each of our used cars is RAC Approved, which means that it has been carefully tested according to its exacting standards. We also provide a minimum three-month warranty on each vehicle that we sell. If you are unlucky enough to have your car stolen or written off, you can take advantage of RAC’s Asset Protector. This is available through us, and takes care of insurance until the finance agreement ends.

Contact us

If you have any questions about car financing from McCarthy Cars, please don’t hesitate to get in touch with us any day of the week. We are more than happy to go through all the options with you, in order to help you decide upon the best solution.