The Finance & Leasing Association (FLA) has re-launched its consumer online guide for buying a car on finance to make it easier to digest and understand.
The online guide, www.financingyourcar.org.uk, explains the different finance options available in showrooms, so customers are able to find the finance option most suited to their needs.
Dealers can look at the wording and potentially incorporate or update how they inform customers about their finance options.
Paul Harrison, head of motor finance at the FLA, said: “September always sees a surge in car sales because of the new registration. This new website will be a timely resource for those planning a purchase.
“The range of motor finance products can be daunting but the FLA’s Financing Your Car website is designed to talk car buyers through the complexities and simplify jargon, helping them be more informed when visiting a showroom.”
Key features of the site include:
• ‘Ask an Expert’, where users can submit a question about how different products work
• Product videos to explain the finance products
• A finance calculator to help customers work out what they can afford
• A list of questions covering different circumstances to show users the breadth of potential finance products
• Information on reputable finance companies to help people with adverse credit histories
• A ‘Jargon Buster’ to explain the confusing terminology of some finance products, so buyers can do their homework before entering the showroom.
• An online tool which finds Specialist Automotive Finance (SAF) dealerships so customers can be confident they are speaking to a motor finance professional. Using postcodes, it shows the 10 nearest SAF approved showrooms to the user, and includes links to the dealers’ websites and directions if needed.