FAQ

Please click on our frequently asked questions below to find out more information.

  • Can I buy a car from any dealership?
  • Once your car finance has been approved, you can buy a car on finance from any UK dealership that holds an FCA license. Whether you are looking for car, motorbike, caravan, or van finance, choosing your vehicle from a reputable dealership will ensure you have peace of mind with your vehicle finance purchase.

  • Can I get car finance if I have bad credit?
  • We strive to get anyone who wants to, back behind the wheel and a bad credit score shouldn't prevent you from unlocking the opportunities that owning a car can provide. No matter what type of financial history you have, we will always consider your application. Low credit scores shouldn't be the difference between having a car and not having one, so we will go above and beyond to ensure your financial situation doesn't negatively impact our decision.

    We provide credit responsibly, and will only ever offer a car finance deal that is affordable for you. All we ask of our customers is that they have a desire to repair any negative credit history by ensuring they keep up with their monthly repayments. We specialize in car finance for low credit scores, so don't let your current or previous credit history stop you from applying.

  • How much can I borrow with car finance?
  • Once your car has been approved for car finance, one of our dedicated advisors will telephone you and discuss your financial needs and requirements. As a car finance company, Advantage Finance provides loans of between £2000- £15,000. The amount you can borrow will depend on your current credit score and affordability.

  • Does applying for a car loan affect your credit score?
  • Understandably you will want to check beforehand that applying for finance doesn't impact your credit score. When you apply directly with Advantage Finance, initially we will carry out an eligibility check. This is a 'soft search', and it won't appear on your records or impact your credit score in any way. If you are happy to proceed with your application, we will then perform a full credit search. This check will be noted on your credit history.

  • How long does vehicle finance approval take?
  • Car, van, caravan, and motorbike loans can be approved very quickly once you have applied for vehicle finance on our website. In fact, we aim to have made a fast decision for your finance application within 12 seconds. Once the vehicle finance has been approved, one of our dedicated advisors will telephone you to run through the next steps. Advantage provides a near fully automated service to keep vehicle finance applications fast and easy each and every time.

  • What vehicle can I get on finance?
  • To begin with, the vehicle needs to be purchased through a dealership that holds an FCA license. There may be some restrictions when it comes to choosing a vehicle and these are usually to do with its age and mileage. Most vehicle finance companies will have certain limitations on the asset they will finance. If you have found a vehicle, you are best to contact one of our dedicated advisors who will be more than happy to assist with the car, motorbike, van or caravan finance to discuss your requirements further.

  • Can you finance a car from a private seller?
  • No, all vehicles that we finance must be purchased from any reputable UK dealership that holds an FCA license.

  • Who pays the dealership for my vehicle?
  • Advantage Finance will transfer the required finance amount to the dealership for your vehicle and your finance agreement is then with Advantage Finance.

  • I've been refused car finance elsewhere, can I still apply here?
  • Yes, of course. Every day Advantage Finance helps hundreds of customers who have been rejected elsewhere or have experienced credit problems in the past.

  • Can I get finance if I'm self-employed?
  • Whether you are looking for a car, motorbike, caravan or a van, we can help those who are self-employed looking for vehicle finance. Our van finance is perfect for those who are self-employed and looking to grow their business.

  • Is same day car finance possible?
  • Same day car finance is certainly possible with Advantage Finance. Once your application has been accepted and approved and you have found your chosen vehicle, there is a possibility that you can drive away in your new vehicle the same day with the finance that we provide. We always aim to provide the finance documents for you to sign as quickly as possible and work alongside the dealership to ensure we have completed all the relevant checks. Same day payment is then made to the dealership for your car finance and you are ready to drive away with the vehicle of your dreams.

  • What is a hire purchase agreement?
  • Hire Purchase is one of the many types of vehicle finance options on the market. With our hire purchase options, you can spread the cost of your vehicle in a way that suits you. We offer flexible repayment terms ranging from 18 to 72 months. Whichever option you choose with your hire purchase agreement, your standard monthly payment will never change.

  • Do you provide guaranteed car finance?
  • Guaranteed car finance is something that does not exist in the world of vehicle finance. At Advantage Finance we try and look at the bigger picture and not just your past credit history, but let's get into more detail as to what's behind 'guaranteed car finance'. The law on guaranteed car finance the 2010 consumer credit act states that making false or misleading claims in relation to consumer credit is an offence. This act states advertisements must not contain the expression 'loan guaranteed', unless there are no conditions to the credit worthiness of the borrower. So in real terms, 'guaranteed car finance' does not exist! However you can simply complete a quick application on our website and we will aim to have an automatic decision for you within seconds.

  • What happens if my car is written off and it's on finance?
  • If your car is written off and it's on finance with us, your insurance company would contact us and liaise to raise funds to clear your outstanding balance. Once this is cleared and settled, you will have the option to re-apply for a new vehicle with Advantage Finance. Of course we would gladly assist you every step of the way to purchasing the new vehicle of your dreams.

  • How is my settlement figure calculated?
  • In accordance with the Consumer Credit Act 1974, you have the right to repay your agreement early, at any time prior to the date of your final instalment. Early settlements are calculated according to the rules of the Consumer Credit Act 1974. This means that you may be entitled to a rebate of some of the interest charged had the agreement run to the end of its term. If you wish to settle any finance agreement early and you are an Advantage Finance customer, please give us a call on 01472 233214. If not, we recommend that you contact your existing finance provider for an exact figure and contact our team for a bespoke quotation on your next car.

  • I am experiencing financial difficulties, what can I do?
  • If you are experiencing any kind of financial difficulties, please reach out for help as soon as possible. You can speak to our own dedicated team who will be happy to assist you if you are struggling to pay your car finance instalments. You can call 01472 233200 or email enquiries@advantage-finance.co.uk and we'll get back to you as soon as possible. You can also obtain free and impartial advice on how to deal with debt from organisations such as Stepchange, National Debtline, Money Advice Service, Samaritans and many others. For more information on this, visit our Dealing With Debt Problems page here.

  • Can I sell my car on finance?
  • No you can't sell the car on finance or any other vehicle on finance before the hire purchase agreement is fully settled. As the lender, Advantage Finance is the legal owner of the vehicle until the settlement figure is paid in full. In order to sell the car, you will need to obtain a settlement figure and pay it off completely. You can also take the settlement figure to a dealership or garage if you are thinking of purchasing a new vehicle. Once the agreement has been settled, we will send written confirmation once payment has cleared. Our interest in the vehicle would then be removed from the relevant databases such as HPI. If you are looking for a new vehicle and your account is not in arrears, you can apply online via our website www.advantage-finance.co.uk or telephone 01472 233214 to discuss your options with us.