Cars have become essential assets in today's society. It is hard to get by without one. The allure of a polished new ride fresh from the manufacturing line is hard to deny. But when it comes to buying a car, people often debate getting a used or new one.

The more significant question is, can you afford it, or can you find one cheaply? There are various tools available to help you get a great deal on a new car. For example, if buying from a dealer be sure to research car invoice prices. Dealers can often get a vehicle for below the invoice price thanks to rebates and other discounts. You could also try buying near the end of the month as dealers will be more pressured to hit sales targets to haggle too high. Once you've got your discount, financing the car should be easier for you.

Below are a few options for car finance for the acquisition of your new vehicle.

1. Borrowing From Friends And Family

Finding someone that can lend you the money with no interest and a short repayment period is the cheapest option. However, money-related squabbles have ended many friendships and destroyed families; it would be best to keep this in mind.

2. Taking Out A Personal Loan

An unsecured personal loan is an excellent way of getting the money you need without putting up anything as collateral. Nevertheless, take prudent measures of doing your homework before applying for the loan. Determine the much to borrow and the loan tenure period; go for what you can repay comfortably.

3. Put It On A Credit Card

Consider getting a credit card with a substantial interest-free or low-interest period on new purchases by going here now and exploring one of the many options that are available to you for this. Some providers will let you clear the debt off the card, and switch to a new lender once the set term expires. One of the benefits of this option is that you enjoy some protection thanks to the Consumer Credit Act.

4. Using Your Savings

With even the best Cash ISA accounts offering insignificant amounts these days, you are unlikely to miss out on a great deal. Consider tapping into your savings and taking a loan if the first option is not so promising. Nonetheless, note that the loan's interest payments are bound to be higher than what you receivings on your savings.

5. Hire Purchase

When buying through hire purchase, you will make a deposit, which of relatively 10%, and repay the balance with interests over the agreed period. However, ownership of the purchased item will take effect once the last payment is made.

Note that the financing company can reclaim the vehicle if you miss a payment. Moreover, the interest rate is significantly high. The upside of this is your credit record will earn brownies points once you pay up to the end.

6. Personal Contract Purchases

The PCP (Personal Contract Purchase) is an option suited for people that change cars frequently. If you are into this, consider paying a deposit or about 10% and a low monthly instalment for an agreed term, deferring a lump sum to the end of the contract.

At the end of the agreed period, you can opt to hand the car back, pay back the lump sum, or sell it privately to clear the balance.

There is a brand to suit everyone, so check out the Suzuki Vitara that could fit your style and budget.

Disclosure: This is a collaborative post.