Searching for a car loan in Glasgow or the surrounding area? Let Wheelie Good Finance do all the hard work for you, putting you in touch with a suitable lender!

Looking for Car Finance in Glasgow? 

As you’re no doubt aware, car finance can be a great way to spread the cost of a loan, rather than buying a vehicle outright. Vehicles, even when secondhand, can be expensive, and it’s not always possible to purchase them through a lump sum payment. With a car loan, you can pay monthly, budgeting for the instalments to ensure they’re affordable.

And if you’re concerned about having a less than perfect credit history, you can rest assured that there should still be options available. Many lenders will look at other factors too, such as your income and expenditure, when making a loan decision. 

Vehicle Finance Options Available in Glasgow

When it comes to car finance, there are two primary options available, which are Hire Purchase (HP) and Personal Contract Purchase (PCP). While you’d usually pay a deposit for both these deals, and then make monthly instalments, there are a few key differences. 

The main difference between PCP and hire purchase agreements is that for the former, you’d be paying towards the depreciation of the vehicle, while with HP, you’d be covering the cost of the vehicle itself. This means that at the end of a hire purchase deal, you’d own the car outright, while with PCP, you can choose between three options. You can simply hand back the keys to the vehicle, enter into a new agreement, or make a balloon payment to purchase the car. 

Because your payments cover the price of the car with a HP agreement, another difference between the two types of vehicle finance is the amount you’d be paying per month. Hire purchase deals normally come with higher instalments than PCP arrangements.

Glasgow car finance

Glasgow Car Finance Eligibility 

In order to apply for car finance, you’ll need to have a full or provisional driving licence, be aged 21 or over, be a UK resident, and have an income of £1,000 per month or above. As long as you meet these basic criteria, your application should be considered. 

Other eligibility requirements include your creditworthiness. This relates to your credit history and credit score, though it’s important to note that you don’t need a perfect credit rating to apply for vehicle finance. Many lenders understand that your credit score won’t always be a true reflection of how you manage your finances, and will look at other factors when making a loan decision.

And because vehicle finance is a type of secured loan, they are usually more accessible than other forms of credit. This is because there is less risk involved for the lender - the loan is secured against the vehicle, so if you were unable to keep to the repayments, the lender would have the option of repossessing your car. 

Cars for Sale in Glasgow

If you’re looking for a car for sale in Glasgow, you’re bound to find plenty of dealerships to choose from! Just don’t forget to do a bit of research before you go, to ensure that you’re getting a good deal on any vehicle you purchase. We’ve listed a few local car dealerships below, to help you get started:

Arnold Clark

274-304 Shields Road, Kinning Park, Glasgow G41 1LA

Car Deal Warehouse

100 West Street, Glasgow G5 8AW

Clyde Cars

139 Dalsetter Avenue, Glasgow G15 8TE

Eastfield Car Sales

29 Camelon Street, Glasgow G32 6AF

Motorpoint

60 Hamilton Road, Glasgow G32 9QA

Something to bear in mind when buying a new or used car is that it can work out cheaper to purchase the vehicle from further afield. Even if it costs you £100 in fuel, if you’re saving £1,000 on the vehicle, you’ve still saved money overall! So try looking online for vehicles as well as locally, to see if you’re able to reduce the overall price.

car finance near me Glasgow

Car Finance Near Me

While finding a local car dealer is important to some people, locating a lender based in the Glasgow area shouldn't be a concern! Most vehicle finance providers operate online anyway, so as long as you meet the lending criteria, any UK lender should accept your car finance application. 

How Can Wheelie Good Finance Help?

Want to find a car finance deal in Glasgow? Wheelie Good Finance can help! We work with a panel of lenders, and will do our best to match you with a suitable loan provider, even if you don’t have perfect credit. As mentioned above, many lenders will look at other factors, such as your employment history, when making a loan decision, not just your credit score.

And because when you make an application with Wheelie Good Finance, we only undertake soft credit checks, it won’t impact your credit rating. Do bear in mind though that should your application be approved, your lender may then carry out full credit checks.

The application shouldn’t take more than a few minutes to complete, and you’ll get a loan decision as soon as possible. So what are you waiting for? Get started by clicking ‘Apply Now’ below!