Cheap Nissan Leaf Car Finance Options
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- Competitive PCP & Hire Purchase quotes from over 20 lenders
- Get the best available rates on cars from £15,000 – £250,000
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- Rates start from 8.9% APR with a representative APR of 8.9%*
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Nissan Leaf Finance
Compare Cheap Nissan Leaf Finance Options
With over half a million units sold and several iterations, the popularity of the Nissan Leaf speaks for itself. With such a high demand for this immensely popular car many of us may be considering finance as a viable option for securing one of these vehicles. That’s why Quotezone.co.uk has teamed up with Magnitude Finance, to take all the hassle out of finding the right finance deal for your new Nissan. Who are Magnitude Finance? They are a UK business that has been helping people get the cars of their dreams for over 30 years and have arranged over £500 million of loans each year. No matter what deal you are searching for, we are here to help you with your car finance comparison.
Getting a Nissan Leaf on finance
There are a few options available to borrowers wishing to finance a Nissan Leaf in the UK. The option that works best for you will largely depend on your own preference as well as what option your lender deems appropriate. Here is a list of the most common car finance methods in the UK.
- Hire Purchase (HP) – With hire purchase you’ll make regular payments over a typical fixed period of 1 to 5 years or 12 to 60 months. With this finance option, the owner of the car will be the financer until such time as the final payment is made and ownership is transferred to the borrower. Therefore if you miss payments, you could lose the car.
- Personal Contract Purchase (PCP) – This popular method of finance involves you making regular repayments over a fixed period of time but instead of buying the car you are essentially renting it. You will have the option to purchase the car for the remaining amount, commonly known as the balloon amount, after the end of the fixed period or simply return it to the lender.
- Personal Loans – This type of finance involves you borrowing a lump sum of cash for the purchase of a car and then you will make regular payments over the fixed term until the loan is repaid.
- Lease – A lease works in a similar way to PCP where you essentially rent a car for a fixed period of time whilst making regular payments. After the end of the lease you’ll return the car to the financer.
You should always do you research before agreeing to proceed with any car finance plan. Consider your overall affordability as well as what your long term financial goals are. Finance plans are
How can I save on my Nissan Leaf finance?
There are a few practical steps you can take to reduce the cost of any potential car finance plan you take out in future, whether is be for a Nissan model or any other car make. These steps are fairly simple to implement but will require dedication to see the full benefits.
- Elect to pay a larger deposit – By paying a larger deposit you can effectively reduce the amount of money you borrow on your loan. The typical deposit for car finance is 10% but increasing this to 20% or 25% can effectively reduce the total amount borrowed and reduce the amount of interest you’ll end up paying overall.
- Choose a plan with a shorter loan term – Opting for a shorter loan term will reduce the amount of months you spend paying interest, this will ultimately mean you end up saving money in the long run compared to a more prolonged plan.
- Get and maintain a good credit score – Having and maintaining a good credit score is crucial for securing the best car finance offers. Whilst a bad credit rating is not an automatic bar to accessing a car finance plan, it can make it more difficult and you’ll likely be charged a higher interest rate. Having a good credit score will also open doors to many other types on finance products such as mortgages and personal loans.
Remember to always read the T&Cs before committing to a finance plan. Also don’t feel afraid to negotiate with your financer if you have a good credit score, you may be able to secure a better interest rate.
Can I get car finance with a bad credit score?
If you have a bad credit score then you will likely have more difficulty finding a willing lender. If you do find a lender willing to offer you finance you will likely be offered a higher interest rate than borrowers with a better score. This is because lenders will view your application as being more risky and so will want to recover as much of the costs quickly through higher interest. The good news however is that these interest rates aren’t set in stone across lenders, so you can still secure better finance deals by doing your research and finding a the right plan. That’s why Quotezone.co.uk has teamed up with Magnitude Finance so that you can get cheaper car finance today.
What should I consider before financing a Nissan Leaf?
There are a few crucial things you need to consider when taking out a finance plan for a Nissan Leaf, or indeed any car for that matter. Firstly you’ll need to consider your overall affordability and if a finance plan will benefit or potentially hurt you financially in the long run. You should also consider the term length in a proposed car finance plan as this will directly impact the amount of time you will be spending interest on your loan. The interest rate itself is also a key factor you’ll need to examine as higher interest rates mean you’ll ultimately be paying more in the long run.
- Term Length
- Interest rate
You should also check that there are no hidden or early repayment fees in your policy. Always consult the policy documentation of a finance plan before agreeing to it.
Is it easy to finance a Nissan Leaf?
This will really depend on factors which are unique to you, such as your credit score, your income level, any outstanding debts you may have. You may be required to provide additional documentation to a financer in order to support your application. Luckily Quotezones partnership with Magnitude Finance is here to help take out the hassle in getting a car finance plan that works for you.