Forecourt Finance

Meaning and Definition

Forecourt finance refers to car finance options that are offered directly by car dealerships at the point of sale. It allows individuals to arrange and obtain financing for their vehicle purchase directly from the dealership where they are buying the car. Forecourt finance is typically provided through partnerships with finance companies or lenders associated with the dealership.

Why it is important to know

Understanding forecourt finance is important as it provides an additional financing option for individuals purchasing a car. It offers convenience by allowing buyers to secure financing directly at the dealership without having to seek external financing independently. It can streamline the car buying process and may provide competitive financing rates and packages tailored to the specific make and model of the vehicle.

Example in car finance

Suppose you visit a car dealership to purchase a new car. As part of their services, the dealership offers forecourt finance options. They present you with different financing packages available through their partnered finance companies. You can compare the interest rates, loan terms, and other financing terms provided by the dealership and choose the option that best suits your financial needs. The dealership handles the financing process, making it more convenient for you to complete the purchase.