Buying a car is probably the second largest purchase after your home. The decision on your method of payment is as fundamental as your choice of vehicle. SERE can help you make the right choice.

Questions to consider:

- Do you have any cash for part or full payment?
- If you own a car already, will you sell privately or trade it in?
- Where can you get the best deal on finance - the dealership or a personal loan?
- Have you thought about GAP insurance?
  This covers the "gap" between your insurance company payout if your car is stolen or written off & the amount   you may owe to the finance company.

Cash

Paying in cash means a simple transaction. Unlike the majority of people, you don’t have to look at various payment options, although you may want to consider using finance offers so that you can maintain your savings.

Finance V Personal Loan

Your bank or building society may offer you a personal loan to cover the price of your vehicle. It is worth comparing a loan to the finance deals offered. Using a dealership for motor finance means that you can approach your bank for credit for other things.

Finance

If you don’t have the cash to buy a car outright, you need to consider the finance options on offer. In partnership with some of the largest finance providers in the UK we are able to use our purchasing power for your benefit. Instead of just using the amount you borrow as factor in deciding the rate, why not use our purchasing power of £18,000,000 per year.

Over 70% of our customers choose to use finance arranged by us.

Part exchange

If you have a part exchange, we will carry out a valuation on your vehicle using an independent appraisal system. All you have to do is take your vehicle down to any SERE location and we will provide you with a value, which can be traded in on the car you want to purchase. We will help make it a simple transaction, settling off any existing car finance.

Down payment

Most car dealers will expect you to have cash for a deposit or down payment. In general, the higher the down payment, the lower your monthly payments.