Are you looking for performance car finance?

Whether you are visiting dealers to view models up close and personal or browsing online magazines – such as the listing of the best performance cars for 2019, published by Auto Express – choosing the make and model that suits you is half the fun.

The other half is arranging whatever finance you need and completing the purchase. So, what are you likely to be looking for in performance car finance?

Play it by ear

You might be so carried away by the dream of owning a performance car that you’ve put the whole question of finance to the back of your mind.

You’ve done a spot of browsing online and are visiting likely dealers for a new or used performance car that might catch your eye – telling yourself that any finance you might need is going to be offered by the dealership concerned.

In fact, that is almost certain to be the case. Any dealer has one aim in mind – and that is to sell you the car. So, of course, that business is going to offer a finance package to close the deal.

If you leave it until the last moment, with only the salesman’s deal on offer, you have no way of knowing whether it represents a competitively priced deal and how it might compare with others elsewhere.

A dealer may be a specialist in selling performance cars, but he is not an expert in arranging performance car finance.

Do some homework

An alternative approach to arranging your performance car finance involves a little preparation and homework – but not so very much.

Rather than the leaving yourself with little option but to accept the dealer’s in-house finance deal – invariably more expensive than arranging your finance elsewhere – you might spend a moment or two seeking quotes from an online specialist provider of performance car finance.

Specialists such as this are able to scour networks of lenders to find competitively-priced deals on your behalf – not only saving you the time and hassle of trying to make comparisons yourself, but also making such that as many bases as possible are covered in the search.

All that you need to do is indicate:

  • the amount you want to borrow;
  • your chosen repayment period;
  • an estimate of your annual mileage;
  • whether you have an excellent, good, or fair credit rating; and
  • some of your personal details.

On the basis of that information, the performance car finance provider may be able to give you a decision in principle on the requested borrowing almost immediately – and save you the potential risk of applying for credit which is turned down and adversely affects your credit score as a result.

Even if you have not yet selected a specific example of the performance car you want to buy, some finance providers can do that search for you too – scouring the network of approved dealerships with which they do business, to find some of the most attractive deals on offer.

With a decision in principle in your pocket and a particular car chosen, you may then move to a formal application for the performance car finance you need and, if that is approved, the requested finance is transferred directly to the appropriate dealer for arrangements to be made for you to collect the performance car you have bought.