How does car finance work with Creditplus?

Approved by the Car Finance Advisory Board

Here at Creditplus, we understand that car finance can be a confusing subject for the majority of both new and experienced customers. To help, we've compiled some key information to help aid your understanding by answering some of the most popular questions that customers have about how car finance works. Read on for more information.

If you've arrived at this page looking for car finance term definitions, please take a look at our dedicated Car Finance Terms section.

Current Creditplus customers with queries on their vehicle finance agreements may wish to visit the existing customers Help & Advice section.

How can Creditplus help me understand how car finance works?

Our team of Customer Advisors are highly experienced within the motoring and finance industry. They're able to utilise their knowledge and skills to provide customers with the highest level of information and support throughout their application process, saving them time, effort and money. They can also help to fund a vehicle from a dealership, or source and supply a vehicle of your choice.

Our Customer Advisors will obtain a credit limit based on your personal circumstances and your credit history and will then discuss the best car finance options available to you.

To find out more about the options available to you, please visit our Car Finance pages.

Why should I get a car on finance with Creditplus?

Here at Creditplus we're passionate about helping our customers get the best car and finance possible, and we've designed a system which helps protect our customer's credit files when they apply for car finance. We do this by conducting a soft credit search, also known as a quotation search. When you apply, this search allows us to match your credit circumstances to the best car finance rates available. The best part is that this won't have a detrimental impact on your credit score, something which is unique to Creditplus.

When you apply to us you'll also be provided with an online car finance decision. This helps to speed up the process and to get you into your new car sooner.

We'll guide you through a range of finance options to ensure you get the most suitable car finance at the best possible rate. When you apply, we'll make sure that you're assigned to a Customer Advisor, who'll provide you with honest and helpful advice. This is all part of the Ethical Lending service that we provide.

If you're struggling to choose a car, or can’t find the one you want, you also have the option to organise your car supply through us. We have access to an extensive network of new and used vehicles, and our expert Vehicle Buying team will negotiate a great deal on your behalf. We can even have your new car delivered to your door - find out more in our Vehicle Supply & Delivery Help sections.

Are Creditplus regulated by the FCA? And what does this mean?

We are regulated by the FCA (the Financial Conduct Authority). The FCA have replaced the Financial Services Authority (FSA) as the regulators of the financial services industry. Since 1 April 2014, the FCA also took on regulatory responsibility for consumer credit from the Office of Fair Trading (OFT). To find out more about the FCA and how we work with them, please visit their website: http://www.fca.org.uk/about

How do I find out if I'm eligible for car finance?

If you require information about your eligibility for car finance, please visit our dedicated Help section entitled 'Do I Qualify'. This section will provide you with help and advice on how your age, employment status, location and personal circumstances can affect your chances of getting car finance. If you're concerned that you may have poor credit, there is a wealth of advice within our Understanding My Credit History section.

How do I make an application for car finance?

We've tried to make our online car finance application as easy as possible, but we understand that sometimes you may want to know a little more before you commit to the process of making an application for car finance. For more information, please visit our Making an Application Help section.

What loan options are available to me with car finance?

As a leading provider of car finance, we're proud to be able to offer our customers a wide range of car loans and car leasing agreements. As a responsible lender, we'll always try and find a financial solution for the majority of our customers, although the rates available will vary depending on each of our customers’ personal credit history.

If you use our Car Search, you'll be presented with a range of car finance options which will show the likely cost of monthly payments.

You can find out more about monthly repayments or use our Car Finance Calculator to work out your total car budget and gain an understanding of what your repayments and interest rate could be.

In this section: Monthly Repayments

How are Creditplus able to find me the best car finance deal?

We're able to bring you the best car finance deals on the market as we have built superb relationships with all the key lenders in the car finance market.

The diversity of our lending panel means that we're able to provide finance to a wide range of customers, catering to your personal circumstances and providing the best possible car finance rates.

Visit our Why Us section to find out more about the benefits of choosing Creditplus as your car finance provider. We also discuss how we work with our customers to find them the cheapest car deal.

Will I have an experienced Customer Advisor guiding me through my application?

Yes, you'll be assigned your own personal Customer Advisor who'll help guide you through every step of the application. They'll work closely with you in order to select the best finance option, check the quality of the car that you choose and help arrange the collection or delivery of your vehicle.

Every one of our Customer Advisors are SAF certified, which means they're trained to provide honest and reliable advice to ensure you get the right finance deal for your circumstances.

Who legally owns the car when it's bought on car finance?

The legal owner of the car depends on a number of factors, such as the type of car finance policy you have. To find out more about legal ownership, visit our dedicated Help section.

In this section: Ownership

Can I get car finance with Creditplus if I've been refused car finance elsewhere?

Creditplus may be able to help you get car finance even if you've been refused credit elsewhere. If you've been refused for car finance, read our dedicated help section to find out if Creditplus can help you.

In this section: Refused for Car Finance

How does car finance work if I want to part exchange my current vehicle?

In many cases, you may want to part exchange your current vehicle to use as a deposit towards your car finance policy. Here we answer some popular questions about part exchanging your vehicle.

In this section: Part Exchange

Questions found online about Creditplus Services

In order to make sure that we always provide with the best service, we like to get feedback. Here we answer popular questions about Creditplus and the services we provide.

In this section: Questions Online

Published: 16/05/2016
Last Updated:22/07/2016
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Got a question for us?

If you require further assistance, our team of Customer Advisors are here to help. We're open six days a week - you can view our opening hours here - and we're more than happy to answer your questions.