Home Products and Services FAQ for vehicle finance

FAQ - Vehicle Finance UK

In the event of accident, sickness, redundancy, hospitalisation or death Creditplus.co.uk will help organise your loan repayments if Credit Protection Insurance is taken out.

How much interest do I pay?
(What is the APR rate?)

This is subject to your status, we provide you with a loan acceptance based on your circumstances, including your previous credit history, and therefore all our quotes are based specifically on your circumstances – not just a headline rate.

How do I choose my next car or van?

Creditplus has over 60,000 vehicles in our database, simply search for the type of vehicles you are interested in, asking one of our vehicle experts for their assistance or source a vehicle from a UK dealership.

How much can I borrow?

A Lending limit will be given to you once you have applied online, depending on your circumstances this will vary, however a good rule of thumb is to work on up to 6 times your net monthly income.

Are there any early term penalties?

Our Underwriters will advise you on the funding method being provided as this will affect your early term and cancellation rights, please ask for assistance so as we provide you with accurate information specific to your needs

I have negative equity in my current car which is on finance

We can still help even if you have a current loan with a higher value than your existing car, see our vehicle valuation pages to get a good idea of what your vehicle is worth, Creditplus will then advise how much we can offer as part exchange / or where best to go to maximise the value of your existing car. Provided you have no more than £2500 of negative equity we can still assist you further.

What car or van can I buy?

Vehicle criteria does vary, however this is a good guide.

Age of Vehicle	Maximum Mileage Allowed	Max Loan Term
New	N/A	60 Months
1-3 Years	80,000	48 Months
6-9 Years	10,000	36 Months
9+	120,000	24 Months

Do you take part exchange vehicles?

Yes we can offer a part exchange value or advise on the best way to get top dollar for your existing vehicle. Please see our Car valuations.

How long does the whole process take from applying for a loan to getting my new vehicle

Normally the whole process takes from 2 to 4 working days dependant upon how quickly you find a car or van.

Can I buy a car privately?

Creditplus cannot provide finance for a private sale as we provide vehicle finance products. If you require a personal loan call 08717 502495 and our sister company will provide you with this service.

What type of driving licence do you accept?

Full Uk / Provisional / European – International licences not accepted.

What proofs do you require?

Copy of your driving licence (photo Id and paper counterpart)
Proof of address – ideally a utility bill / tax letter / BT phone
Proof of income – recent payslips or last 3 months bank statements

Do I get to see the car?

Any cars provided by Creditplus via the internet are covered under the supply of goods act (Distance sales) this initials you to protected rights that mean will we put right any fault on the vehicle if one occurs within the first 7 days from delivery, you also have the option to test drive the vehicle on delivery before our delivery driver leaves, before accepting the vehicle. Creditplus looks to provide high quality vehicles and therefore are happy to provide further warranty covers if required.

Can I include money for insurance and RFL?

Certain vehicles on monthly promotions allow us to provide a cash back facility to help with motor insurance etc.. Please ask our customer services team for assistance.