First of all lets explore the most common types of finance…
Personal Bank Loan
Banks are more nervous than ever before about lending you their customers cash. Bank loans are still considered very high risk and therefore their lending criteria is generally strict, meaning in most cases you would need to be a customer of the bank with an excellent credit score.
Credit cards are notoriously hard to obtain because of strict lending criteria. On top of this most dealers will charge you 3% extra for buying a motorbike on a credit card and some dealers won’t accept them at all because of the risk of charge backs.
Most dealerships are tied in with manufacture finance schemes that are more commonly aimed at the PRIME market (excellent credit score, low risk) or they are tied in with the finance company that provides them with their stocking loan (most dealerships don’t own their stock, the finance company does). Again, if you don’t fit the lending criteria of the dealerships finance partner, you are left doing the walk of shame.
BUT, hold on…its not all doom and gloom!
Why do we recommend sourcing your vehicle finance first and why use us?
Securing your finance BEFORE searching for your next vehicle in most cases makes more sense and puts you directly in the driving seat:
1. Having secured your finance first, there is no risk of the dreaded dealership walk of shame.
2. As a FCA regulated company, our partners have access to almost every type of lender, covering almost all financial situations.
3. They will work hard to match you with the best way to finance your vehicle and will discuss all of your lending options BEFORE submitting your application.