Car Finance FAQs | Leicester, Leicestershire

Am I eligible for car finance?

Obtaining car finance will depend on a variety of different factors, including whether or not you are employed, your current financial status and what age you are. At Sturgess Group, we have a high acceptance rate for car finance applications, including customers with low credit scores, and always do our utmost to help you drive away in the car of your choice, hassle-free.

Contact us today to speak to an advisor who will be happy to explain your options based upon your personal circumstances and the car you're looking to purchase.

Is car finance just for new cars?

We offer car finance for both used and new cars at our many dealerships. We have a huge selection of used vehicles including Fiat, Hyundai, Suzuki and Alfa Romeo, as well as many other marques. This guarantees you can find a high-quality vehicle at a competitive price, with all the benefits that finance offers you.

How do I know my credit rating?

Credit rating will be dependent on your past credit history. For an accurate reading, try websites such as Experian or Equifax, which can provide you with your credit score. If you have had problems in the past with CCJs, defaulted or missed payments, don’t worry, Sturgess Group offers a range of flexible finance options including car finance for bad credit.

Please be aware that sub-prime finance is not guaranteed and may cost more than finance provided by a prime lender. We will try to obtain finance for you but there is no guarantee. It may be from a sub prime lender, and if so, the cost of finance may likely be at a higher rate than prime lenders offer.

Speak to one of our helpful team for more information on the types of finance we offer.

What is the difference between Personal Contract Purchase and Hire Purchase?

Hire Purchase schemes allow you to pay a deposit and drive your car away, with the remainder of the balance payable monthly at a fixed rate, usually over 24 to 48 months. At the end of the agreement, you will own the car outright. Personal Contract Purchase, or PCP, lowers your monthly payments as part of the cost is deferred until the end of the agreement. Again, you pay a deposit at the start of the term, followed by monthly payments at a fixed APR. However, at the end of the agreement, you can either pay a pre-determined fee to own the car outright, hand it back and walk away or trade it in for a new model.

Walter E Sturgess & Sons Ltd trading as Sturgess of Leicester, Sturgess Motor Group, Sturgess BYD and Sturgess Hyundai is an Appointed Representative of Automotive Compliance Ltd who is authorised and regulated by the Financial Conduct Authority (FCA No. 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Walter E Sturgess & Sons Ltd trading as Sturgess of Leicester, Sturgess Motor Group, Sturgess BYD and Sturgess Hyundai to act as a credit broker, not a lender, for the introduction to a limited number of lenders, and to act as an agent on behalf of the insurer for insurance distribution activities only. We are a credit broker and not a lender. We can introduce you to a carefully selected panel of lenders, which includes manufacturer lenders linked directly to the franchises that we represent. We act on behalf of the lender for this introduction and not as your agent. We are not impartial, and we are not an independent financial advisor. Our approach is to introduce you first to the manufacturer lender linked directly to the particular franchise you are purchasing your vehicle from, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to make the next most suitable offer of finance for you. Our aim is to secure a suitable finance agreement for you that enables you to achieve your financial objectives. If you purchase a vehicle, in the majority of cases, we will receive a commission from your lender for introducing you to them which is either a fixed fee, or a fixed percentage of the amount that you borrow. This may be linked to the vehicle model you purchase. Different lenders pay different commissions for such introductions, and manufacturer lenders linked directly to the franchises that we represent may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement; however, you will be contributing towards the commission paid to us with the interest collected on your repayments. Before we propose you to a potential lender, we will inform you of the likely amount of commission we will receive and seek your consent to receive this commission. The exact amount of commission that we will receive will be confirmed prior to you signing your finance agreement. All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over. Guarantees may be required.

Sturgess Newton Baker LLP trading as Sturgess Anstey, Sturgess of Leicester, Sturgess Motor Group and Sturgess BYD is an Appointed Representative of Automotive Compliance Ltd who is authorised and regulated by the Financial Conduct Authority (FCA No. 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows Sturgess Newton Baker LLP trading as Sturgess Anstey, Sturgess of Leicester, Sturgess BYD and Sturgess Motor Group to act as a credit broker, not a lender, for the introduction to a limited number of lenders, and to act as an agent on behalf of the insurer for insurance distribution activities only. We are a credit broker and not a lender. We can introduce you to a carefully selected panel of lenders, which includes manufacturer lenders linked directly to the franchises that we represent. We act on behalf of the lender for this introduction and not as your agent. We are not impartial, and we are not an independent financial advisor. Our approach is to introduce you first to the manufacturer lender linked directly to the particular franchise you are purchasing your vehicle from, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to make the next most suitable offer of finance for you. Our aim is to secure a suitable finance agreement for you that enables you to achieve your financial objectives. If you purchase a vehicle, in the majority of cases, we will receive a commission from your lender for introducing you to them which is either a fixed fee, or a fixed percentage of the amount that you borrow. This may be linked to the vehicle model you purchase. Different lenders pay different commissions for such introductions, and manufacturer lenders linked directly to the franchises that we represent may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement; however, you will be contributing towards the commission paid to us with the interest collected on your repayments. Before we propose you to a potential lender, we will inform you of the likely amount of commission we will receive and seek your consent to receive this commission. The exact amount of commission that we will receive will be confirmed prior to you signing your finance agreement. All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over. Guarantees may be required.

Heading

Contact

Car Finance - Frequently Asked Questions