Questions our finance brokers get asked regularly:
1. What will a finance broker do for me?
- They will evaluate your budget, taking all of your personal circumstances into consideration
- They will provide expert advice about which lenders will most likely be willing to approve your application, and which lender you will most likely get the best deal out of.
- They will prepare the application and present it in a professional way to the lender
- Arrange for pre-approval on any loans to make the searching process easier.
2. How long does it take for loan approval?
Once we’ve got all the information we need, the brokers will have the result of your loan application within 24 hours. If you need more information on the process it can be found here.
3. I am starting my own business. Will I be able to get the finance for the vehicle I need?
- Low doc car loans
- Chattel mortgage
- Bad-credit finance
When you talk to our Commercial Loan Brokers, they will analyse your situation and needs, and give advice on what the best route might be to get the vehicle you need.
4. Do you only do car loans?
No. We provide a range of finance options, these include:
- Motorbike finance
- Business finance
- Bad credit loans
- Equipment finance
- Boat finance
- Personal loans
- Debt consolidation
- Caravan loans
- Truck finance
- Home loans
- Refinancing an existing loan
We can also offer insurance quotes to provide protection for your investment.
5. I’m discharged from bankruptcy, can I get a loan?
Yes. Once you have been discharged from bankruptcy we can help to choose the right loan option and start the path to building a better credit history. F2 Finance are confident of our ability to find options in finance for individuals with low credit scores, which gives you the chance to make a fresh start.
6. Do I have to buy a car from you?
Definitely not. We can help to discover the ideal car loan for your personal financial situation, this gives you a budget to adhere to. With all this knowledge, are then able to buy from a dealership or even a private sale. After you find the vehicle you want, simply let your broker know, they can then help you get a fair price, and help take all the stress out the negotiations.
7. Can you help me to find a car?
Yes. If you describe to us you are searching for, our experts in vehicle sourcing will use their resources to scour the vehicle market and find the car you want.
8. What is your interest rate?
Our loan rates begin at 3.99%. The rate that will apply to your individual loan will vary depending upon your credit history and a variety of other things such as the car you want to purchase, your personal assets and the liabilities you have. For a more detailed piece on how interest rates will be calculated, see here.
9. Can I make an enquiry on behalf of my partner?
Yes, if you possess all the relevant information on your partner’s employment, income, liabilities and residential history, then we can start the loan process. We will require privacy consent from your partner however before we can make the initial enquiries.
10. What is my maximum repayments?
After the approval of your loan, your finance broker can then calculate your maximum loan repayments, this means that you are then able to calculate whether you will be able to afford the loan comfortably before you sign any contracts.
11. I’ve been in an accident, and my car was written off while it was still under finance - can I get a new car loan?
Yes, you are free to get a new car loan as soon as the insurance cover is finalised and approved.
12. I’m a casual employee, will I be able to get a car loan?
If you have regular casual employment, we can assist in finding the right car loan. At F2 Finance we are able to understand that a car is vital to get back and forth from work, and we will source the right loan in 24 hours.
13. You can provide an insurance quote - will this be a separate payment each month, or can it be lumped into a single payment?
Insurances will be collated in with your loan payment, so you only receive one bill to and it includes all the things you need to not worry whatsoever.
After you’ve discovered the vehicle you want to purchase, your broker can then provide you with a quote on exactly what the repayments are likely to be, as well as all of your insurance needs.
14. Once I find the car, how long will it be before I can take it home?
Once you have a pre-approved loan, providing we receive all the documentation from you, you can be in your new car by the very next day.
15. What types of insurance are available, and how much extra will they cost?
Our insurance brokers are able to arrange insurance so you are covered if you happen lose your job, or if the car is either written off or even stolen (Gap Protection). If anything was to happen, the insurance would mean the loan is covered, and you then don’t have to keep paying for a vehicle you no longer possess.
We are also able to arrange 3 year warranty for any major parts required, from the gearbox to the engine. This means that you are totally covered if anything was to go awry. The expense is no more than a cup of tea or a film during the week. Take a look at our insurance pages for a more detailed look on your vehicle insurance options.
16. What are the insurers that you use?
- Eric Insurance
- Swann Insurance
- National Warranty
17. I have defaults on my bank account, will this affect my ability to have a loan approved?
This is depending on how many defaults you have, and the reasoning behind them. If defaults have only occurred once or twice in the past and there is a good reasoning behind them, then there is no reason why you shouldn’t still be okay to get a loan at a reasonably competitive rate. If you have a short credit history and more regular defaults, our brokers should still be able to find a way to give you another chance.
F2 Finance are specialists in arranging loans for people who have had a tough run of luck, if you speak to one of our experts they will be able to figure out what’s the right move for you. They’ll find a way to give you the loan contract that you need at a price that you can afford, helping you get on the path to a totally clean credit history.
18. What kinds of bad credit do you commonly help with?
One of the primary defaults is a phone bill default. We can assist with all kinds of bad credit, anything from overdrawn bank statements, credit files with a large number of enquiries, through to discharged bankruptcy or even unpaid defaults.
19. What information do you need to get me a loan approval?
All we need is a valid driver’s licence, 3 to 6 months of statements from your bank, payslips. As soon as you provide us with this information, we are then able to make apply for a loan for you.