Personal Loans

Secured Loans

Other Loan Types

Residential Mortgages

Buy to Let Mortgages

Other Mortgage Types

Mortgage Payment Protection

Life Insurance

Other Finance

Second Hand Car Season

For some unexplained reason from the about the start of spring (March/April) through till about August about 7-8 million of us Britons go out and buy a second hand car. The average price spent on a car is around £5000 - £6000, funded predominantly by personal loans.

The estimated total amount due to be spent on second hand cars in the coming months is £60 billion. This is a particularly massive sum of money, considering that most of it will be borrowed from one lending company or another.

We at Loans UK we can’t explain the reason behind this huge surge in second hand car buying, so we can only speculate as to why this may be the case. However what we can do is tell you, if you’re thinking about purchasing a second hand car, how to save money.

First you will need to make sure you can afford to purchase a car and payback the loan, and then you will need to decide how much you want to spend on a car; this way you will know how much to ask to borrow from a lender.

Next you’ll need to shop around for a car and for a loan. Here at Loans UK we offer the simplest and quickest loan application form on the internet. If you want more advice on financing a car click here to visit our car financing page. When shopping around for a car, make sure you look absolutely everywhere from eBay to your local second hand car dealership. You never know what kind of a bargain you will find.

It is also a good idea to haggle the price down as much as possible as this could save you hundreds or in some cases thousands of pounds. If you know nothing about cars it may also be a good idea to bring along a friend who does know something about cars, as they will be able to stop you from getting a poor deal.