Buying a car on finance has become the option of choice for many car owners, but while there are some clear advantages to this, it is mostly a smokescreen. This is because, no matter how good your credit deal is, buying a car on finance will and is always more expensive than buying your car outright with cash, as you’ll need to spend a fairly large amount on the interest.

Throughout the UK, buying a car has become more popular, even just over the last few years. This has meant that there are more new cars on the road than ever before, but it also means that we’re spending more as a country on our vehicles than we should.

Buying a car with cash helps change your perspective on how much a car is really worth as well, as making small monthly payments can really make you underestimate how much you’re actually spending.