Sometimes you may need to buy a new car and haven’t had much time to work out how you are going to pay for it. Many people do not have thousands of pounds saved up that they can use to buy a new car without having saved towards it so often we are left to trying to raise funds another way. Many dealerships (especially the larger ones) will often offer finance packages. These may be from their own in house company or through a broker which will try and find you the best deal. There are two main problems when it comes to car finance. One is it is often hire purchase which means the finance is on the vehicle. Not only does this mean they can repossess the car should you fall behind with payments but also that you would not be able to sell the car with the finance on it so would have to settle before you could change cars. The other issue is that car finance is often a lot higher APR than personal loans and even sometime higher than credit cards. If you are struggling to obtain a loan then why not speak to your Credit Card Company or bank and see if they would be able to give you extra credit. Some credit card companies will give you an additional 12 months interest free period of you have been a good customer.