This finance arrangement is available for car loans. It requires a deposit-- either paid in the form of cash or a car trade-in. Usually, repayments are transacted through direct debit from you nominated bank account, allowing for a set monthly repayments for the term of the loan. These loans have a fixed interest rate. Your choice of a car follows the type of financial commitment you are capable of paying-- ensuring that you will be debt-free as quickly as you envision yourself to be.