Car finance provides many of us with a useful means for purchasing a new or used vehicle. With so many payment plans on offer, it’s easy to get lost in a haze of financial jargon. But the most basic of points to bear in mind are the differences between personal car loans and business car loans. They are equally beneficial, but apply to two very different sets of circumstances.

Business car loans can aid you in purchasing:

• Vehicles to be used as company cars for staff within your business.
• Vans to be used for the transportation of stock or equipment to your customers or clients.
• Cars to transport clients in comfort and style.
• Either a single vehicle or a whole fleet, depending upon your needs.
• Any vehicle that is used primarily for use within your business.

Personal car loans provide financial support for any vehicle that is used the majority of the time for personal use. Whether this be a family car for ferrying the kids to school and back, a sports car to enjoy countryside drives during a sunny weekend, or an executive car to get you to work and home again.

Car finance, whether it be business car loans or personal car loans, offers a number of repayment options. With flexible repayment schedules, competitive APR rates and loan calculators available so you know just how much you’ll be paying back, it’s easy to find a car loan that suits your needs and financial situation. Having a bad, low or zero credit rating needn’t present a problem when you are looking for car finance. Whether your loan is for a business car or a vehicle for personal use, lenders want to be lending money, so many are happy to organise car finance no matter what your financial history or credit background. Personal car loans are not difficult to get, and as they are secured on your vehicle, rather than on your home, they are a lot less risky than obtaining any other kind of loan.

Business car finance can greatly enhance the image and productivity of your company. Personal car loans can make the world of difference to your daily life. Many take cars for granted, while others simply cannot afford them, but with a personal car loan, it’s so much easier to find a car that will make your life so much easier.