The success of Internet financial companies is based upon the quality of their products but equally upon their understanding that consumers are looking for service. It has meant that they inevitably offer the finance than an applicant needs in order to buy a new car but also related services that the borrower may also find useful. There should be obligation to buy them but their presence alone demonstrates that there is more to financial services than just lending money.
You want to be certain that the interest rates being offered are competitive and the application process quick and easy, but it is nice to see other things as well. A history of a high rate of loan approvals is a further item to consider when looking for an online source of car finance.
If you look on www.carloan4u.co.uk you can see an example of this; its primary and secondary services. The primary service is the provision of finance for people looking to buy a car, brand new or used, with the monthly income to justify their application.
Good service companies recognise that if they can also advise on secondary services, equally essential, such as car insurance then the applicant is likely to remember them in the future. A lender that accepts Financial Conduct Authority regulation is one that will guarantee you peace of mind. If it then has a facility offering insurance under the Financial Services Authority it can make your whole purchase exercise quicker and easier.
Insure for the unexpected
Car insurance is mandatory but there are other things that perhaps you should consider so that your driving experience in the coming years is good. There are regular monthly running costs, fuel and service costs to be taken into account, but you may decide that you would like to make provisions so that there are no nasty surprises such as the cost of major repairs to your car.
You can get mechanical breakdown insurance. It may well depend upon whether you are an optimist or not but you can insure against a major repair bill if you like. If you have bought brand new then warranties should cover any major problem. A used car can be more of a problem and it is for you to judge how important it is to have your car available at all times. If you cannot pay a major bill you will have no car.
You can also insure against having a shortfall between the sum your insurance company will pay you in the event of your car being written off or stolen and the amount you still owe on any loan. When a problem happens in the very early stages of your loan it can be something that you simply cannot afford to bear.
These are issues that you need to think about. It is important to remember that even though you may be a careful driver, accidents can happen when you are completely blameless. The fact that a good lender offers a comprehensive and regulated service suggests you have found someone that has your interests at heart.