The FCA is investigating the use of discretionary commissions arrangements between motor finance providers and brokers. Credit Vibe Finance formerly MotaFinance Limited have never used discretionary commission arrangements, and therefore none of our customers are impacted.
Need car finance ?
Simply complete our online application form and we will provide you with an immediate decision. If you have any doubts about obtaining credit with a poor credit history, It’s okay. We are a specialist lender that is able to help most people with a history of poor credit or because you simply don’t meet the criteria of other lenders.
Before finding your perfect car, we suggest that you apply for approval, so that you can get an idea of the maximum amount that you can borrow. Knowing you have been pre-approved and that you have a budget, means that you can find your perfect car with confidence.
Credit Vibe Finance have a network of approved dealers throughout England and Wales and one of these specially selected partners will be able to help you find your dream car. All of our dealers are authorised and regulated by the Financial Conduct Authority. Just ask us for details of our dealers.
Hire Purchase Advantages & Disadvantages
We are not a third party provider or a finance broker, this means when you take out a loan with us, it is actually with us, Credit Vibe Finance, and not another company you have never heard of. We offer car loans through a hire purchase agreement. Hire Purchase is one of the most common types of finance and is really simple — you hire the vehicle and make monthly repayments until you have paid off the loan. Once all the payments have been made, the car is yours..
Hire Purchase is a very popular form of car finance for people with all kinds of credit ratings. Including people who struggle to get other forms of credit such as personal loans, as well as people who do not want to pay cash for a vehicle. It is a convenient way to pay for a vehicle based on budget and credit profile. You agree to affordable monthly payments and avoid the risk of any shortfall at the end.
Your finance is secured on the vehicle, so if you don’t keep up with the monthly repayments, Credit Vibe Finance Limited can repossess the car.
Failure to make payments can also affect your credit report.
Car Finance Explained
To get started you will need to confirm the following:
It's easy, anyone can do it
We've made sure that applying for car finance is as simple and straight forward as possible. Completing our online form will only take 1 minute of your time and in most instances will provide you with an immediate lending decision. Unlike most companies, we will not approve your application subject to further checks. If we agree your loan, in most instances you are now approved and do not need to do anything else.
You are aged between 23-60 with a full UK driving licence
You have been living in the UK for at least the last 3 years
You have been in full time employment for over 12 months
Your monthly income is at least £1,500 per month after tax
You hold a bank account that allows Direct Debits
You are not in an active bankruptcy or debt relief order or in a current IVA
Hire Purchase Agreement repayable over 48 months
Rate of Interest: 15.0% p.a. flat rate(fixed)
Vehicle Purchase Price: £7,500
Deposit: £500
Amount of Credit: £7,000
Admin Fee: £295
Interest Payable: £6,776.92
Option to Purchase Fee: £50.00
47 Monthly Repayments Of: £244.14
Followed By 1 final Repayment Of: £294.14 (includes option to purchase fee)
Total Amount Payable: £12,268.72
Representative APR: 32.1%
Hire Purchase. Terms and conditions apply. You will not own the vehicle until all payments are made. Finance subject to status. Applicants must be aged 23 or over.
Representative Example
- Flexible deposit and repayment period
- Fixed interest rate and payments throughout the life of the agreement
- No mileage conditions
Benefits of Hire purchase include
Specialists In Bad Credit Car Loans
If you have a credit rating that could be better and are looking for car finance, then we can help. We specialise in helping customers who may have experienced bad credit in the past and who want to obtain a loan for their next car purchase.
We help customers in all sorts of circumstances. We understand that everybody’s credit ratings and situations are different, which is why we base our decisions on your current affordability and not just your credit history.
We want to help you find your perfect car that suits your needs with a loan that is at an affordable monthly cost.
Our goal is to become the largest provider for car finance in the UK, specialising in helping those with bad credit, a market that is often under serviced. Understanding our customers and providing great service will help us achieve this goal and we pride ourselves on our friendly and helpful approach.
