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Our staff have passed the examinations set by Specialist Automotive Compliance and Automotive Compliance to enable us to advise you when choosing your new vehicle.
We have formulated the following FAQ's to aid you when deciding how to fund your next vehicle.
Q. Why should I use your finance options when I already have my loan in place
A. If you were to arrange your finance through us we can offer a competitive rate for the relevant level of borrowing, as the agreements we offer are tripartite agreements with the finance company they provide protections under the Consumer Credit Act including termination rights once you have paid half of the total amount payable on the agreement, also the Finance Company will provide their support under the sales of goods act.
Q Why should I use your finance options when I can just add the money to my mortgage? or Why should I use your finance options as I want a term longer than 5 years, I'm trying to keep my payments low and see this as the best option.
A. Whilst having a loan over a longer period reduces your monthly payments it often does mean that you pay more interest in the long run, it is important that you consider this and additional factors such as fluctuating interest rates when deciding this type of lend over a long period.
Q. I don't want my car tied to a loan, this gives me the freedom to change my car sooner.
A. Under the terms of an Hire Purchase agreement once you have paid half of the total amount payable you have the right to voluntarily terminate the agreement with nothing to pay, the agreement is flexible meaning that you can make full or part payments at any time and receive a rebate of interest, you are also entering into a tripartite agreement so you are protected by the Consumer Credit Act, our finance companies also provide their support under the sales of goods act.
Q. I can obtain a better rate than yours because of my credit rating/great relationship with my bank/get preferential rates/don't want to share personal info, so I might as well get a personal loan.
A. Our finance companies do not ask you a large number of personal questions, they obtain the minimum amount of information to enable the relevant credit searches whilst keeping in line with FCA rules and guidance, our lenders ensure the agreement is affordable, you can input these details yourself if you wish, as above you are also protected by the Consumer Credit Act and the sales of goods act.
*You will make no payment to us for introduction to finance providers, but we may receive a payment(s) or other benefit from the finance provider if you decide to enter into an agreement with them. You may ask us for details of such payments.