The Credit Expert Journey
Come to us first
We encourage customers to contact us directly before identifying a car or dealer. Doing so allows us to work with you to determine if and how much our panel of lenders would be willing to lend for a car purchase.
We understand that arranging finance for individuals with previous credit issues or no credit history can be time-consuming. It often requires additional verification of an applicant’s income and outgoings to ensure an affordable loan offer. In addition to helping people buy a car, we want to improve every customer’s future creditworthiness.
While this is our suggested approach, if you start your car dealer, we can still help and work with you and the dealer.
Hire Purchase (HP)
The loan product we used is Hire Purchase or HP. HP operates with a fixed interest rate over a fixed period to provide budgeting certainty. It is also ‘secured’ on the car. In essence, one of our lending partners buys the car from a dealer and hires it to each customer.
Once you have made all the payments and paid a final ‘option to purchase’ fee, they become the owner – hence hire purchase.
Cars and Suppliers
Our lending partners can typically provide car finance on cars aged up to 10 years old and with a maximum mileage of 120,000. All cars must be supplied by a UK-Based Car dealer that is VAT registered.
These criteria are designed to ensure that customers receive the best consumer protection, which is only available when a car is supplied by a verified dealer.
Purchasing a car from a verified dealer also means we can have confidence in the car being financed.
Once you find a dealer you want to work with, please get in touch with our team, and we will verify them to ensure we can work with them.
The Simple Credit Expert Car Buying Journey
- Apply for finance with us
- Please work with us to gain an approval on an agreed budget
- Identify a car and dealer – and let us verify both
- Sign your documents and drive away
- Ensure you maintain all your monthly payments on time