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Car Finance Rescue

Top FAQs Answered

Q. Will the finance be secured on my property?

Certainly not. Most lenders actually tend to operate a standard ‘Hire Purchase’ agreement, which means they are the legal owner of the vehicle until all the repayments have been made. This type of agreement is used by virtually all motor finance providers.

Q. How much can I borrow?

Once your application has been accepted, the lender will provide you with an initial ‘credit limit’ – this will be based on your current net take home pay, but also (and more importantly) it will be based on your desired monthly repayment budget.

Q. Is the interest rate variable like on a mortgage?

Not at all. The interest rate is fixed for the entire duration of the agreement – therefore, so are the monthly repayments.

Q. Do charge any fees for arranging my finance or providing me with advice?

There are no fees charged by, however there may be some documentation fees, or ‘option to purchase’ fees charged by the lender. These will be explained fully prior to you signing any paperwork and are clearly displayed on the finance agreement

Q. Is it possible for me to ‘repair’ my current poor credit rating?

Yes, absolutely – but not by simply doing nothing. Lenders can trace your ‘credit history’ going back several years, so it is important that you make your current bills and monthly repayments in full and on time. By doing this, you will be creating a positive track record for lenders to assess the next time you apply for credit.

Q. I currently owe more on my car than it is worth – can you still help?

Yes, absolutely. We have various funders who are able to accommodate ‘negative equity’, which means you can still look to change your vehicle.

Q. Once I am approved for finance, how long do I have to choose a vehicle?

Usually most lenders underwriting decisions last for 30 days – after that, we will need to get your application re-approved.



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