The most frustrating thing that can happen when you apply to buy a car on finance is finding out that you have a bad credit rating. Some finance providers will turn away people with poor credit and those which don’t will charge a much higher rate of interest. For this reason, you should try to keep an eye on your credit score.
Personal Contract Purchase (PCP) is a type of car finance, which requires an initial deposit, followed by monthly payments to be made over an agreed period of time.
GAP (Guaranteed Asset Protection) insurance, covers you if you are unlucky enough to have your vehicle written-off in a road collision or if your car is stolen and not recovered. It reduces the risk of you having to make insurance repayments when the car is no longer in your possession due to unforeseen circumstances.
