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Frequently Asked Questions on Car Loans

Will my repayments be fixed?
Yes they will be fixed for the entire term of the agreement.
Do you use credit scoring to make your decision?
We do not base our decision on your credit score. We are specialists in bad credit car finance and help people who may have had trouble obtaining finance elsewhere. We do this by looking at your affordability as opposed to credit scoring. We do perform a credit search to review your financial history, but our lending decision is not solely based on this.
What paperwork will I need?
• Photo ID – We will use this as proof of your identity
• Proof of income – Wage slips or bank statements, minimum of 2 months will be required
• Proof of address – This can be in the form of a utility bill or council tax bill.

We may require further documents depending on your application
What is a Payment Reminder System?
A Payment Reminder System (black box) is placed into your newly purchased car (don’t worry its small and discreet so you can’t see it in the car) and once a month, when your payment has been received, a code will be sent directly to your device and this allows your car to keep running until your next payment.
Can I take a payment holiday?
Unfortunately, you are unable to take a payment holiday as the account will fall into arrears.
Can I settle my car loan before the end of the agreement?
Yes you can settle your account before the end of the agreement. We will give you a settlement figure and this is the amount you will need to pay to end your finance agreement with us.
Can I get car finance with a provisional licence?
Unfortunately not, we can only provide finance for people who have a full UK driving licence.
What does APR stand for?
APR stands for annual percentage rate.
What is APR?
The APR is the yearly cost of borrowing, this is what you'll pay on top of the money you borrow.
Aside from APR are there any other hidden costs when taking out car finance?
There is an option to purchase fee of £10, which is added into your loan repayment schedule.
Can I transfer my existing car finance arrangements into a new agreement with you?
We are unable to add on any existing finance you may have into your agreement with us.
How do Go Car Credit pay for my car?
We transfer the finance amount to the dealership directly as soon as you have signed the legal documents.
Do you offer Car Finance for motorbikes?
Unfortunately not.
Is car insurance included as part of car finance?
Car insurance is not included as part of the finance we offer.
What type of cover for car insurance is required?
Please note we need the car to be comprehensively insured.
What if I want to change my car before the end of the term?
You will need to request an early settlement figure from us and settle your current contract before you can begin a new one. Our customer service team will be able to give you details of the early settlement balance.
What paperwork will I receive?
You will receive a signed copy of the Hire Purchase Agreement. You should ensure you have read this document and understand the terms and conditions of the agreement. Please retain this document for your records.