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  • Competitive PCP & Hire Purchase quotes from an extensive panel of lenders
  • Get the best available rates on cars from £15,000 – £250,000
  • Use a Trustpilot 5-Star rated team with expert knowledge
  • Rates start from 8.9% APR with a representative APR of 8.9%*

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Used car finance

If you’re hoping to buy a new car, used car finance could be a great option to consider. Many people dismiss used cars; however, many are available in excellent condition. For all of Quotezone’s information on finding a good used car finance deal, read on. 


Where can I find the best used car finance deals? 

The best place to find a used car finance deals is to search the many tools available on Quotezone’s website. You will find plenty of useful information to help you determine which sort of car would be the most cost-effective, along with insurance costs, too. Quotezone’s tools allow you to compare the different rates you can expect to pay, along with interest. 


What is the cheapest car to get on finance? 

Peugeots are renowned for being cheap cars on which to get finance. They’re reliable, often small, cars that don’t cost a lot when it comes to running them. We recommend looking at the Peugeot 108 model. The Citroen C1 model is a good cheaper option, too.


What is a good used car loan? 

The average interest rate for a new car stands at about  4.31%. Comparatively, a used car loan is 8.43% and is considered a good deal. Keep this information in mind when searching for your used car loan. 


Are the best finance deals on used cars expensive? 

In short, the answer to this question depends on the type of car you choose for car finance. Fancier models will obviously cost more, even if you’re buying them as a used car. With this said, you should be able to find really low used car finance deals when using the range of tools available at your disposal. 


Is a 72 month-long used car loan bad? 

Depending on your circumstances, a 72 month-long used car loan could work. If you have a very good credit score, you may choose to take out a car loan of this length because of its lower monthly repayments. However, if your credit rating is low, you will not be offered a longer repayment time frame. You could end up paying more in interest than you originally thought, too. 


Is it better to get a loan from a bank or a car dealer?

Some people prefer to secure their car and the associated loan through a dealership. With this said, getting a car loan from your bank could be a better choice for your credit score in the long run. Loans via dealers can end up being more expensive as they often come with higher interest rate mark-ups. 


Should I apply for a loan before visiting a used car dealer?

Yes, if you are planning on buying a used car on finance, you should apply for a loan before looking for a used car to purchase. This will give you a good idea of your repayments along with the interest rates, too.

*Representative Example – Personal Contract Purchase: Cash Price £15,000.00, Deposit £500.00, borrowing £14,500.00 over 4 years at 8.9% Representative APR (fixed). 47 monthly payments of £228.99 followed by a final payment of £7,560.00. Total cost of credit of £3,832.53 and total amount payable of £18,832.53. Based on 8,000 miles per annum, excess mileage charges will apply if this is exceeded. Finance subject to status 18+ only. We are a credit broker and not a lender. Magnitude Finance is a trading style of DSG Financial Services Ltd. DSG Financial Services Ltd is a company registered in England & Wales with a company number 02313903. Our VAT registration number is 511678843. DSG Financial Services Ltd is authorised and regulated by the Financial Conduct Authority under firm reference number 649675

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