Frequently Asked Questions
What is the difference between PCP and Lease Purchase?
Can I still use Capital Car Finance PCP and Lease purchase products if I have already agreed to purchase my car from my own preferred dealer?
Yes, no problem, providing your dealer is a UK franchise dealer, we can arrange your car finance and you transfer funds directly to them.
How long do I have to wait for a credit approval?
The majority of our lenders are very quick with their decisions and they normally takes around 4 hours to pass approval for your finance.
What if I have had problems in the past with my credit, can Capital Car Finance still help me?
No unfortunately not, this is mainly due to the market we specialise in and the lenders we work with, they are only able to offer low rate funding facilities for customers with a clean credit rating.
What happens after my finance has been approved?
After your finance has been approved, we will contact you to confirm everything and then arrange for the finance documents to be sent out to you, at this stage we will require also the name, telephone number and contact name of the dealership where you are buying your car, together with the vehicle details also, if these are available.
Will you contact the dealer to discuss the settlement of funds?
Yes, we will arrange the invoice and electronic funds transfer directly with your dealer, the only thing you need to do is tell your dealer you have arranged your finance with your own lender and that we will contact them directly to arrange payment.
What proofs will I have to provide at payout stage?
You will need to provide some proofs when you return your signed finance agreement, these are normally a copy of your driving license [both parts] and a recent utility bill dated within the last 60 days, if there are any additional proofs required, we will advise you at the time of acceptance.
How is the documentation sent out to me?
We normally arrange for your finance documentation to be sent to you directly by email, these are normally sent out in a pdf file format.
Where do I send the signed documentation and proofs?
There will be an email giving full instructions of how to complete and where to return your signed finance documents and proofs back to.
How long does the payout process take to complete after I have returned my completed documents and proofs back to you?
Providing all paperwork is returned back to us correctly and we have received your dealer invoice and bank details for the electronic funds transfer, then we are normally able to complete the whole process as quick as 24 hours.
What about deposits, who do I pay this to?
Capital Car Finance hold no money or deposits on behalf of their customers at all, once your finance has been arranged, all monies are paid directly to the supplying dealer, this applies regardless of whether CCF arranges the supply of your new car or you have purchased your vehicle from your own preferred dealer.
How long is my finance acceptance valid for?
We can save your finance quote for you for a period of 7 days, then when you are ready to proceed we can turn your quote in to a formal offer by taking your proposal details and submitting to our lender for approval, once we have approval from the lender we can normally hold your acceptance in place for a period of 30 days (depending on the lender) which effectively locks the rate in place for you also.
Can I settle my car finance early or am I locked in to a deal for the term of the agreement?
All our PCP and Lease Purchase finance agreements have no full term lock-in or tie-in to the lender, customers can settle early if they wish, by simply obtaining a settlement from the lender whenever they like.
If I purchase my new vehicle through Capital Car Finance, where are the cars supplied from?
All the vehicles we supply are brand new UK registered and are supplied directly to you from the UK dealerships, there is no difference to you buying your car yourself directly from the UK dealer, apart from the price of course!
Is there a vehicle age limit for Car Finance with CCF?
We are able to offer funding facilities for all cars up to 5 years old, sometimes older depending upon the supply route and vehicle. Generally, as long as the finance balance is £10k or more, we can normally assist.
What about warranty, will my warranty be affected if I use alternative finance with CCF?
Absolutely not, warranty is provided by the manufacturer not the dealer and therefore it is exactly the same regardless of which finance route you take.
When do I have to make my first payment for the finance agreement?
Normally the first payment to the finance company is paid approx 30 days from the date of signing of the finance documents.
Is there any VAT on my finance payments?
There is no VAT on any of our finance agreements from the lenders we deal with, if you have been offered a deal +VAT, then this normally means it is tailored as a business product and therefore you will certainly be locked in for the duration of the finance agreement, so be careful.
Can I pay additional lump sum payments, after my car finance has been arranged?
All our consumer finance agreements are regulated by the CCA which now allow for lump sum payments off your loan, which will either reduce the balance outstanding or reduce your monthly payment, whichever is preferred. There is no limit as to the number of times you can do this, however this facility is NOT available for business customers.
What if I go over my allowed mileage?
The mileage clause is only applicable to PCP finance and not to Lease Purchase, with a PCP there is a set agreed mileage at the start of the contract, however if this is exceeded then the customer simply pays a small mileage penalty to the lender, we would always recommend to customers to over allow on their intended mileage at the start of the agreement, just to give them a buffer.
If I am happy to proceed with Capital Car Finance, what is the next step?
If you are happy with the finanace quote we have provided, the next step is to take a finance application from you, this is normally done over the telephone and takes just a few minutes, once your finance application has been accepted, we will then email your finance documents for signing.
When do you contact my supplying dealer?
When your pcp or lease purchase finance has been accepted, we will make contact with your supplying dealer to arrange the payment of the balance with them directly, we normally request that customers make contact with them first to explain that we will be in contact.
If I have any further questions, how do I contact you?
Capital Car Finance Ltd operates without any call centres, not only can you call us directly on 01925 589020 but we have various methods of communication Contact Us to make it easier to get in touch with us, you will always speak to and deal with an experienced finance adviser who will have all the answers you need, we have a very high standard of customer service too, so you are in safe hands.