When you’re in the market for a used vehicle, the financing aspect can often seem like a hurdle. But with the right information and a trusted dealer like Quality Used Motors, securing finance for your next car can be a smooth and straightforward process. This guide delves into the top 10 non-bank car finance companies in the UK, providing you with the essential insights to make an informed decision that aligns with your needs and budget.
Navigating Your Finance Options
First and foremost, understanding the landscape of car finance is crucial. Whether you’re leaning towards a Hire Purchase (HP) agreement for outright ownership at the end of the term or a Personal Contract Purchase (PCP) for lower monthly payments with flexible end-term options, there’s a finance product out there to suit every buyer’s circumstances.
Partnering with Quality Used Motors: Your Guide to the Top 10 Car Finance Companies
1. Close Brothers Motor Finance
With a commitment to flexible financing options, Close Brothers Motor Finance offers tailored HP and PCP deals, making it easier for Quality Used Motors customers to drive away in their dream car.
-Established 1878
-APR varies depending on the vehicle and the borrower’s creditworthiness.
2. Black Horse Finance
A part of the Lloyds Banking Group, Black Horse Finance provides a broad spectrum of finance products, ensuring every customer finds a solution that’s right for them.
-Established 2001
-APR is tailored to the individual’s circumstances.
3. MotoNovo Finance
Known for competitive rates and exemplary customer service, MotoNovo Finance stands out as a partner to Quality Used Motors, offering straightforward finance solutions for your next purchase.
-Originally known as Carlyle Finance, which was founded in the 1980s
-APRs, which can be dependent on credit assessments.
4. Moneybarn
Specialising in assisting those with challenging credit histories, Moneybarn ensures that finance is accessible, allowing more buyers to own their ideal used car.
-Established 1992
-Specialises in providing finance to individuals with poor credit histories, which might result in higher APRs.
5. Zopa
Offering a modern take on car finance through peer-to-peer lending, Zopa delivers personal loans with competitive rates, presenting an alternative route to traditional car finance.
-Established 2005
-As a peer-to-peer lender, APRs can vary significantly based on the loan amount and the term, as well as the borrower’s credit score.
6. Advantage Finance Limited
Advantage Finance Limited focuses on making car ownership achievable through reliable HP agreements, welcoming a broad spectrum of buyers.
-Established 1999
-Offers premium finance solutions with APRs that reflect the borrower’s profile and the specifics of the deal.
7. Alphera Financial Services
Supported by the BMW Group, Alphera Financial Services provides premium finance solutions, prioritising transparency and customer satisfaction in every agreement.
-Established 2001
-Focuses on HP agreements with APRs adjusted for risk and creditworthiness.
8. Auto-Money
For those seeking swift and simple finance solutions, Auto-Money’s straightforward HP agreements can fast-track your car ownership journey.
-Provides quick finance solutions where the APR can be influenced by the loan’s speed and convenience factor.
9. Billing Finance Ltd
Billing Finance Ltd takes a personal approach to car finance, crafting HP agreements that are tailored to the financial circumstances of each buyer.
-Established 1983
-Offers personalised finance options with APRs tailored to individual financial situations.
10. Blue Motor Finance
Renowned for its innovative and technology-driven approach, Blue Motor Finance offers efficient HP and PCP agreements, meeting the needs of today’s digital-savvy consumers.
-Established in 1992
-Uses technology to assess credit and offer competitive APRs based on comprehensive risk assessments.
Empowering Your Purchase Decision
In partnership with Quality Used Motors, these top 10 car finance companies provide a comprehensive range of financing options to suit diverse needs and circumstances. From overcoming credit challenges to finding the most competitive rates, your path to purchasing a quality used car is paved with reliable and customer-focused finance solutions.
Making an Informed Choice with Quality Used Motors
By considering your personal financial situation alongside the vehicle you desire, and exploring the terms offered by these leading finance companies, you’re well-equipped to secure a deal that best matches your needs. Remember, the key to a successful finance agreement is thorough research and a clear understanding of your options. With Quality Used Motors by your side, you’re one step closer to driving away in your ideal used car, backed by the right finance plan.
