Cost of living: budget, fuel and charging tips to try today

The following does not constitute financial advice and should not be relied upon as such. It merely serves to inform you of options that might warrant further research.
• If you are having difficulty repaying, talk to your finance company or lender about renegotiating your existing PCP/lease agreement, you may be able to extend it and pay less per month. Again, check out sites like Citizen’s Advice and Money Helper for advice. • For many of the cheapest deals you’ll need a good credit score, so do a free credit check before you start. Also, make sure you’re aware of APR and fixed interest rates, so you know what a good deal looks like. Learn more about APR and flat interest. • If you have enough, you can use your savings to buy a car as there is no interest to pay – but only consider this if you have enough to cover running costs, insurance, etc and other non-car, emergency, and rainy-day costs • Pay monthly on a car finance offer – PCP, HP, and CS all offer slightly different payment methods, and some give you the option to buy the car or return it – learn more about car financing options • If your credit rating is high enough, look at 0% car financing offers • Consider a 0% spend credit card – in depending on your limit. Familiarize yourself with the pros and cons first – APR can be much higher and paying them back can be expensive once the 0% transaction window closes. Learn more about 0% APR credit cards. • Consider a personal loan – rates tend to be lower than car finance packages, but are less flexible Ultimately, we encourage everyone to do their own research when looking at car finance and other car purchase options – it is important that you understand the terms of your contract and your payments, so that you know that you can afford to buy your car. We’ll add to this guide as the situation evolves – feel free to share your cost-cutting tips at Twitter.


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