We live in an era where we can access all kinds of services online. From simple operations such as buying a ticket for the cinema to more complex transactions such as applying for car finance. Therefore, the dilemma nowadays is not accessing services, but to how to choose quality ones. The situation turns worse when you are about to make an important and expensive acquisition like buying a car.
How to choose the best car finance specialist with so many options available?
In this article, we will explore how you can easily identify trustworthy car loan specialists offering you financing terms tailor-made with you in mind.
Too good to be true? It gets better. All you have to do is follow the step-by-step process described below with our top tips on applying for car finance in 2020, from the convenience of your home or office. Let’s get started!
1. Check for FCA authorisation
The first thing you want to verify is that you are dealing with a fully licensed service provider. The UK Financial Conduct Authority (FCA) issues consumer credit licenses in an effort to regulate loan activities, protect consumers and promote healthy competition.
Being FCA authorised doesn’t mean your money is covered by the Financial Services Compensation Scheme (FSCS) but it certainly gives you some peace of mind regarding the service you are using. Automotive brokers and car finance specialists include this information on their website, usually on the footer section.
Nevertheless, nothing stops you from confirming whether a firm or person is licensed, authorised, or exempt by using FCA Financial Services Register. It is free and only takes a minute of your time, yet it can potentially save you a lot of trouble down the road.
2. Verify Relevant Accreditations
Arguably, the second most important aspect that you must check in a car financing broker is the number of accreditations that it has as well as their quality. Why is this so important? Let’s say you are interested in leasing or purchasing a car. You visit a car dealership and fall in love with a Ford Fiesta. Now, the accreditations held by the broker will affect:
- Its ability to offer you different financial options
- The range of services it can offer you
- The quality of such services
Since your objective is getting the best overall conditions for your car loan, broker’s accreditations matter. At Tailor Made Car Finance we work in association with the most trusted financing companies in the UK including Blue Motor Finance, Octane Finance and Close Brothers. Our partners and accreditations allow us to offer you the best financing plans in the market. Buy any car. No deposit. No broker fees. Enjoy all these benefits thanks to Tailor Made Car Finances extensive partner network.
3. Only Rely on Experienced Credit Brokers
Consider the previous two points necessary to filter your options. Clearly, you do not want to do business with any person or entity that lacks an adequate license or does not have recognised accreditations as that would be an unnecessary risk.
Now, with so many financial service providers to choose from, the next factor to consider is how quickly they can provide you with a solution; This is usually closely linked to their experience in the industry. Experience plays a crucial role in the automotive business.
No matter how good a broker’s accreditations are, without the proper experience, the most probable outcome will be wasting a lot of your valuable time. This shouldn’t come as a surprise since car loans may involve a lot of paperwork.
Pro tip! Favour experienced credit brokers over the rest. It will end up saving a lot of time and possibly money in the process.
At Tailor Made Car Finance we simplify the complexity of the applying for car finance, thanks to our industry experience and game-changing service that we summarise as fund, find and deliver.
4. Inquiry About Broker’s Reputation
Needless to say, brand reputation is one of the most valuable indicators of the 21st century. That principle also applies to credit brokers.
Reviews, the contemporary version of ‘word of mouth’ promotion, is an invaluable asset for companies of all sizes. People believe in reviews more than anything else, especially when it has to do with services and for good reason. Customers’ perception of how the service is provided is everything.
Since services are ‘intangible’ they are hard to compare, that is why people’s opinions (reviews) are so important. When you read positive reviews about a particular car finance service provider your level of trust increases. Ads can be deceiving, honest reviews are not. We strongly advise you to perform thoughtful research on the reputation of any car financing company you may be considering.
Trustworthy service providers usually have extremely good reviews because they care about providing the best car financing experience to their customers. That is the case with Tailor Made Car Finance. We are proud of the 5 Star reviews that we have on Feefo and Google and this is all thanks to our commitment to deliver a friendly and helpful experience to our clients.
5. Look For The Utmost Customer Experience
As mentioned earlier, a good reputation is usually the result of serving customers in an extraordinary way. One of the ways to achieve this, is to satisfy the high expectations of today’s public through service personalisation and great attention to detail. Let’s be honest, everyone likes to feel special. Therefore, any company offering car financing solutions tailored to each client will clearly be showing its devotion to excellence.
That is exactly what we do here at Tailor Made Car Finance. We provide a personalised non-binding car finance process that is tailored for your individual needs.
Fast and simple! Just get a no-obligation quote that won’t affect your credit score, then our experienced car financing specialists will assist you from start to finish with all paperwork to get your loan approved and that’s all. Once you get approved you only have to choose your dream vehicle and we will take care of the rest. We will even deliver the vehicle to your front door. A truly tailor-made car finance and find service!
Forget about spending hours struggling with forms and paperwork trying to apply for a car loan, Tailor Made Car Finance is your one-stop car financing solution. Regardless of your credit history, we can assist you in finding a car loan that adapts to your budget. We guarantee to provide you with the best car financing experience.
Applying for car finance has never been so easy and fast.
Ready to get your dream car? Use Tailor Made Car Finance free Quick Calculator to set a realistic monthly budget for your loan. Apply now, for a no-obligation quote.
If you have any questions about car finance, please comment below