FAQs

Introduction

Navigating the ins and outs of car finance and loans can be quite the challenge. From complicated terminology to a plethora of acronyms and abbreviations, it’s enough to make anyone’s head spin.

Simplifying Car Finance with Our FAQ Section

That’s where our FAQ section comes in. Whether you need a quick refresher or are diving into car finance for the first time, our comprehensive guide is designed to make the complex simple.

You must be aged 18 or over and have been resident in the UK for at least three years. If your residency is less than three years, we may still be able to help; please call us.

No

Hire Purchase – with Hire Purchase or HP, the loan is secured against the car, and you will not own it until all payments, including an option to purchase fee, have been paid.

We cannot commit to a time because each application is different, but we will never sacrifice speed for care to ensure we create affordable approvals.

Yes, provided they are VAT registered.

We can help arrange finance for used cars through accredited UK dealerships. There are some restrictions relating to the car’s make/model, age and mileage. We cannot arrange finance for cars purchased privately or from auctions.

This will vary from lender to lender, however some lenders in our panel may require you to provide them with documents such as bank statements or payslips.

Helping people who have past credit issues requires a structured approach to understand each applicant and ensure we check that an acceptance is affordable. Our goal is always to create good outcomes for people seeking car finance with us, which seldom means an instant decision.

It is not essential, but it may help you buy a better or more expensive car. Please note that the supplying dealer may ask you to place a holding deposit in any car selected.

This depends on the car’s age, but usually, the longest period considered is 60 months.

APR stands for Annual Percentage Rate. It is the cost you pay each year to borrow money, including fees, expressed as a percentage. Our APRs are tailored to individual circumstances.

No, you are responsible for running costs including, but not limited to, fully comprehensive insurance, road fund licence and servicing.

Call your lender soon as possible. They will work with you to find the most appropriate way to help. Never ignore such a problem; You will find them to be a sympathetic and supportive lender focused on creating the best outcome they can for your changed circumstances.

Once all payments are made, including the option to purchase fee, the car belongs to the finance customer.

Yes, please get in touch with your lender for an accurate figure.