My Car Credit – Vehicle finance

In 2016, My Car Credit were awarded a number of awards including, ‘F&I Broker of the Year’, ‘Car Finance Awards Broker of the Year’ and ‘Motor Finance Intermediary of the Year’ and that is what makes us the UK’s leading vehicle finance broker.

Best service & products

These awards we have been granted proves our commitment to delivering the best possible service and products to our customers, helping them get the vehicle finance they require.

Changing the vehicle finance industry

One of our goals is to change the face of motor finance with the aim of making car finance access an option for as many people as possible. We want you to have the opportunity to buy the car you want, at the budget you can afford. Why should you not have the car of your dreams, if we have the option you need to make it a reality?

Unique approach to lending services

The technology we use has been developed offer a unique, market leading car credit checking system that offers our consumers the most convenience and ease to get the vehicle finance that they need. Our system has been built over many years of trading and successful underwriting, and we have mastered what we believe our customers need and want.

We have a dynamic team

Key to delivering our unique car finance service is our dynamic and professional team. They share our vision and values, and their passion has helped to create a company that is now the best in the business.

Diverse choice of car dealers

Over the years we have also developed approved partnerships with thousands of the most reputable new and used car dealers in the UK. Our service gives you access to a diverse and competitive list of vehicles, ensuring you are provided with choice.

What makes our system revolutionary?

The fact that we provide instant, online decisions and faster manual decisions makes us a preferred broker for car loans. Additionally, we offer greater flexibility and support and a more diverse selection of car finance products compared to our closest competitors.

There are so many car finance options, choosing the best one can seem to be a difficult choice.

You will be happy to know that here at My Car Credit we want to help you with an understanding how each car loan option work. Additionally, we want you to know beforehand how much it will cost you and which option best suits your finances and requirements.

Car finance in a nutshell

Car finance allows you to become the owner of a car if you are not able to pay upfront. Once all the repayments have been made, you take legal ownership of the car.

You make affordable monthly repayments directly to the agreed lender.

Quick guide to different types of car finance

Hire Purchase (HP) - the most general type of vehicle finance and it enables you to make monthly repayments. There is usually a small admin or purchase fee at the end, at which point, you take ownership of the vehicle.

Best suited for individuals who;

• Do not want to or cannot pay cash
• Has a budget and circumstances best suited fixed monthly repayments
• Have had problems getting credit
• Want to own the car at the end of the loan agreement
• Has a disposable income that might change

Personal Contract Purchase (PCP) - similar to Hire Purchase but you have the option to buy the vehicle at the end of the loan by means of a balloon payment or hand it back.

Best suited for individuals who

• Want lower monthly repayments, flexibility and options at the end of the agreement
• Like to change their car routinely
• Are confident that they can predict their mileage

Conditional Sale – is also similar to Hire Purchase but you do not pay a fee at the end of the loan agreement, just monthly repayments.

Best suited for individuals who

• Prefer to pay a bit more and avoid a large payment at the end
• Want a choice of length of repayment terms