Home Car Finance Explained
Car finance, in most cases enables customers with little or no cash in the bank but who can afford to make monthly instalments, to purchase a car with no upfront payment. Car finance is available on virtually any car up to 12 years old and is becoming more obtainable thanks to a whole host of new specialist lenders.
Many of the “specialist car finance” web sites are actually finance brokers which mean they make their money from commissions paid by the lenders in return for them introducing business to them. This can mean that in some cases you (the customers) is placed with the lender that pays the broker the highest commission and not the lender that is offering the best deal to the customer. There are specialist lenders who pay very little or no commission to introducers which means that brokers will not submit your application to these lenders as there is no benefit to them for doing so. South Yorkshire Car Credit are not solely dependent on commissions paid by lenders and submit applications to lenders that pay little or no commission.
When you opt for a used car on finance you’ll have the option to trade in your old vehicle as a part exchange. We provide a free, realistic valuation based on current market conditions, the price we quote can then be deducted from the purchase price of your ‘new’ used car, reducing your monthly car finance payments. Alternatively if you prefer to keep your car or sell it privately in most cases we are able to offer a no deposit option.
See What The Lenders See
Lenders base their decision on whether to accept or decline an application on information obtained from UK credit reference agencies.
These agencies hold information and personal data, such as address history, voters roll information, previous credit searches and the credit accounts you hold and have in held in the last 6 years including any missed or late payments and defaults.
To find out what information these agencies hold about you click on the link below. They offer a 30 day free trial, you can access your credit file and no fee is charged if you cancel before the trial period expires.