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Interest Rate Rise

Well it has been coming for over 10 years and now we have our first-rate rise. So, does this make using finance more expensive in general?

In simple terms, Yes, as, and when funders look to pass on these rate rises the cost of finance will increase but this all depends very much on the funding product being used.

If you are looking to buy the vehicle and using finance to do this either via a loan or full purchase type product you will be paying a higher rate on the total cost of the loan. If it is a lease or a purchase type product with a final payment option, PCP then you will be financing only the difference between the cost price and the final payment amount in the form of a PCP or for a lease the anticipated value at the end of the agreement. 

As a fully independent broker however, it is our job to constantly scan the market and bring to you the cheapest pricing based on the vehicle and the distance and duration that suits you.

The pricing you see is the pricing we look to deliver based on final confirmation from our finance providers, but with numerous updates to our pricing, we always look to bring you the best pricing and when confirmed it is then valid for a specific number of days from quotation to enable you to choose the right vehicle at the right price for your needs.

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