Pay as You Drive Car Finance UK
Today’s lifestyle means that a vehicle becomes more than a means of transport, it is a necessity. You may have heard people talking about something called pay as you drive car finance. The New Look Loans ‘pay as you drive’ product makes getting the vehicle that suits your lifestyle possible!
Pay as you drive car finance is a form of Hire Purchase agreement. It allows you to purchase a motor vehicle of your choice, from any reputable motor dealer, regulated by the FCA. Once you have chosen your vehicle, and completed all the necessary documentation, the finance company will liaise with the motor dealer to have a device fitted to your motor vehicle.
What Does a ‘Pay as You Drive’ Box Do?
The device operates as a payment reminder system, prompting the user when a payment is due. It is a black device that is fitted into the car and works as a payment reminder. When your monthly payment has been made the finance company will send you a nine digit code that will need to be entered into the device within forty-eight hours, otherwise the code will expire. The device does not affect your car nor does it monitor the way you drive, all devices are fitted by a specialist team. The system ‘beeps’ for the number of days you have left before your next payment is due. Once your payment is due you will hear a continuous warning sound. You can either make a payment by standing order. Should you be unable to make a repayment or find yourself in arrears the financier will always look into setting up a payment plan with a customer, for example they will take the full contractual payment and split it over 3 months. Should you fail to make a payment, the vehicle will be rendered out of use. Always keep the financier informed, they will discuss with you when you can make the payment and arrange a suitable payment plan. Late charges may be applied in these circumstances.
New Look Loans specialises in helping those who may have a poor credit history, or may struggle in obtaining finance. We will do our utmost to find a finance agreement, tailored to your needs, which allows you to get the vehicle you want. Simply fill in the application form online or telephone us for more information about this product. A more comprehensive explanation of a ‘Hire Purchase’ agreement is available in the ‘Car Finance Information’ section of our website.
Finance Calculator
Our car finance calculator is a great estimation tool to see what you could afford to borrow. Simply use the sliders to see an example of what your monthly payments could be. Rates will differ based on your credit rating. Amounts proposed are an estimate, credit is subject to status and is not guaranteed.
Apply For Finance
Our online finance application form is quick & easy to complete. You can rest assured that we will make every possible effort to help you obtain the car credit you deserve. We will treat your car finance application in the strictest confidence and maintain your privacy at all times.
Why Choose Us?
All Credit Histories
We specialise in all credit histories including those who have previously struggled gaining credit or may have a poor credit history. If you are looking to buy a new or used car and you have a bad credit car finance rating, apply online using our easy to complete car finance application form.
Choose Any Vehicle
You can choose to deal with any reputable motor dealer in your local area or we can recommend a reputable motor dealer to you from our approved dealer network. Then simply leave it to us to find you a fantastic finance option with affordable monthly repayments, tailored to your circumstances!
Finance For You
We tailor credit for all of our customers based upon their circumstances. Our skilled staff try to source the best finance option for you, first time, and are there to support you throughout your finance agreement. Rest assured we will make every possible effort to help you obtain the car credit you deserve.
Get in Touch
If you have any queries please get in touch on 01482 459066 or fill in the form below