Personal Loan – PL
PL is a loan not specifically linked to the vehicle so using this type of loan means you own the vehicle outright as soon as the transaction is completed and the dealer has their money. It is very similar to a HP in all other aspects, however, you can sell the car at any point and continue the loan separately. Loan terms are typically 12 – 60 months and rates of interest are based on the individual lenders’ offers. It can be used to finance anything from a Home Improvement to a holiday and is typically only offered to customers with good credit history.
For more information about personal loan or to find out how we can help you, please don’t hesitate to contact Car Finance Northern Ireland today!