What is a car on finance?

(2011-01-08 21:59:43) 1. Rachel Says: My friends gf was talking about getting a car on finance because she's in uni and travels alot and it doesn't sound too bad I just don't fully understand what happens or what's involved. Is it like a phone contract for a car or what is it??2. bordem Says: its basically like a loan with interest how it works is: you fill uin some forms about stuff like your job where you live ect and the dealer send it off to the bank its usually blackhorse finance, and in 2-3 days they reserch your credit rating ect and then call the dealer and say whether they have accepted or not and then the dealer gets the paid money on the car and you come and collect it while paying monthly installments (the higher the deposit on the car the lower the interest rating/ usually 3-4%) Tag: What is a car on finance?