Car Credit Finance Glossary

Frequently used terms

Car finance

Perhapes the main term used when talking about obtaining finance to fund a vehicle purchase. Generally the word car finance is used to describe straight forward hire purchase where you the customer take out a loan secured only of the vehicle and not your property or other possessions.

Car credit

Another popular word to describe financing a vehicle through a dealership. Car Credit is used with the same meaning as Car credit finance and Car credit loan and as such is generally a hire purchase type agreement.

Car loan

A term used to describe a varity of ways to fund a vehicle purchase. Obtaining a loan through a high street bank can be tricky if you have even a few small missed payments on your credit file. These could be down to a forgotten credit card statement or a missed payment whilst abroad. With something like that the chances are your bank would turn you down. A car loan can also be used to describe the type of finance we offer (hire purchase). We take in consideration all types of credit files from no credit history , a few missed payments to ex bankruptcey. Our rates vary and are based on your individual circumstances. We work with a large panel of lenders to ensure we can offer you the best deal possible based on your credit file and current financial situation. For further details click here or to apply click here.

Other terms