There is something exciting about getting a brand new Citroen car. What troubles many people though is where to get the finances for such a purchase. There is no need for panic, for there are Brisbane car finance deals that can make new Citroen cars affordable. With about 80% of new cars in Australia being bought with use of a finance method, car financing is proving to be a very competitive market with a myriad of financing packages available in the market. It’s therefore, necessary that proper analysis of the different packages be made by the buyers before settling on one. Below is a look at some options.
Personal contract purchase (PCP)
In the recent past these have been among the most popular Brisbane car finance options offered by car dealers. Here people desiring to buy Citroen cars are allowed by putting down a deposit and then required to make monthly payments over a fixed time frame which usually is about three years. When the time frame lapses, three options are available. You can either make a balloon payment where you pay off the whole of the remaining payment, you can hand the car back or put any equity in the car towards a deposit on a new car starting with a new PCP deal. However, the car is not yours until you have paid it off, and also they come with mileage limits that have consequences when unadhered to.
This works almost like the personal contract purchase but differs in that the monthly payments are higher as here you are paying for the Citroen car itself rather than its depreciation. After the final payment has been made is when you fully own the car with no balloon payment. These are also arranged with your Citroen car dealer. The risk with this financing option is the fact that when you fall behind on payments, the car like in PCP can be taken away.
These you arrange for yourself just as the name suggests. You can do so through a bank, building society or even an online lender. You sign an agreement agreeing to pay monthly payments as well as interest amount before the loan is given as a lump sum which is then used to buy Citroen c3 if it’s your desire, outright. They come in two though as secured and unsecured. Insecured, collateral usually is required in the form of your house. In case you fail to repay the loan, then your house is at risk of being repossessed and sold off to repay the loan. For unsecured though no collateral is needed, you just have to have a good credit record. See more at Brisbane City Citroen
Even as you look into Brisbane car finance options, it is important you make certain that you can afford the monthly payment. Also, do comparisons using online comparison sites, especially on the annual percentage rates (APR). Either way, the cheapest option usually to buy a Citroen car is through savings or considering used Citroen cars.