Just Driving > Driving School Articles > Yorkshire Driving Instructors Articles > Getting Finance For Young or New Drivers

Getting finance for young and new drivers after completing your driving lessons in Yorkshire

Trying to get finance for your first car can be tricky, but we are here to give you three advisable routes you could take to get your first set of wheels.

Firstly a personal loan, this is an unsecured loan and this basically means that you don’t have to own a house to get one or secure the loan against an asset you own. However you do need to have a regular income plus be 18 or older, as soon as you have made the payment on the car it becomes yours. You then pay the bank back, but try and get the lowest APR rate you can get. This is the interest paid on the loan and the higher the APR is the more you end up paying back at the end of the loan.

However personal loans aren’t for everyone and there are other options. Another option is a hire purchase. Through this method of payment you make installed payments on the car every month and after the contract ends, the car becomes your property! It is as simple as that to get your first car after finishing your driving lessons in Yorkshire. On the other hand you must think about whether you will be able to afford those monthly payments because there are consequences for breaking the contract.

Car leasing is the third and final option for acquiring a car. A lot of driving instructors in Yorkshire do this because it is very simple to do and you aren’t tied down by any lengthy contracts on more flexible contracts you must be careful some can tie you in. Although the car never becomes your car, you don’t need as much cash coming in to do this one. Some car leasers may give you the opportunity to buy the car from them after you have finished leasing it. Also beware of the mileage that you are doing on the car because most leasing deals have a maximum mileage you can’t exceed or it equals extra cash to pay.

Congratulations on finding the right driving schools in Yorkshire to take you to the standard required to pass your driving test. That’s if you are reading this after you have passed that is or good luck with it if you have one booked.

I hope this has helped anyone who is looking to finance their first car and hope you have fun driving it around!

Just Driving the perfect choice for driving tuition.
Call free on 0800 783 4803