Finance FAQ's


About Finance FAQ's


What is APR?

Annual Percentage Rate (or APR) is the official rate of interest to help you understand the cost of borrowing on any financial loan. It is required that all lenders provide you with details on the APR before you sign any credit agreement.

Am I eligible for car finance?

You can check your credit score using a service such as Experian or Clearscore to check the likelihood that you will be accepted for vehicle financing.

How does financing a car work?

It really depends on the type of agreement you take out. Among those available are a standard personal loan, hire purchase, contract hire, or Personal Contract Purchase. Speak to a member of the team at Bentleys Motor Group to learn more.

What is financing a car?

Financing a car is simply the case of borrowing money from a lender to help fund the purchase of a vehicle.

How to finance a car?

There are numerous ways to finance the purchase of a car, ranging from a personal loan to Personal Contract Purchase agreements. Speak to a member of the team at Bentleys Motor Group today to find out more.

Can car finance be transferred to another person?

While it may be possible to transfer finance to another party, we recommend that this is not pursued. Please speak to a member of our team for details.

What is voluntary termination?

A voluntary termination agreement enables you to end a hire purchase contract early as long as you are able to meet certain conditions. Speak to our experts today to learn more.

What happens at the end of a lease?

This depends on the type of finance agreement you have in place. Please speak to a member of the Bentleys Motor Group team to learn more.

What is a guarantor on a car loan?

A guarantor is a third party - often a family member or close friend - that will be responsible for any payments on your loan should you be unable to pay. A guarantor is often required for those with poor or little credit history.

Can you pay off a car loan early?

Yes. You can usually contact the lender for details on the settlement figure that needs to be paid. Note, however, that in some cases you may be subject to an early payment fee.

Who can act as a guarantor?

A guarantor should be someone that consents to being responsible for your finance agreement should you be unable to pay. As such, while anyone can be your guarantor, it’s often someone close to you such as a partner or family member.

Does a car loan build credit?

Yes, so long as you maintain payments.

How long should you finance a car?

Most finance agreements run from 24-60 months in duration. The longer the length of agreement, the lower the monthly payment but the greater the overall amount of interest paid. Speak to our sales advisors to learn more.



Finance Types FAQ's


What is hire purchase?

Hire purchase is a financing scheme that enables you to pay a deposit on a new or used car followed by fixed monthly repayments over an agreed period. At the end of this term, you have the option to purchase outright via an option to purchase fee.

What is a lease purchase?

A lease purchase agreement is one of the most affordable ways to drive a new or used car, with low monthly payments and a small deposit often meaning you can be on the road in no time. At the end of the agreement, you will be required to make a final payment - known as the balloon payment - to become the full owner of the vehicle.

What is personal contract hire?

Personal contract hire agreements are essentially a form of vehicle leasing for a set period of time. You will be required to pay monthly payments before returning the vehicle at the end of the agreed term.

What is business contract hire?

Business contract hire is an agreement that enables people who run a business, be it sole-trader, limited or plc to finance vehicles for their operations. Consult one of our sales experts for more information​.

What is personal contract purchase?

Personal Contract Purchase - or PCP - is one of the most popular financing schemes for vehicles. Simply pay a deposit followed by affordable monthly payments that cover the depreciation in value of the vehicle over an agreed period. At the end of the term, you can either pay the remaining balance or return the vehicle.

Benefits of hire purchase?

There’s many reasons to choose hire purchase, with the ability to spread payments into manageable monthly sums the main one. Plus, the rate of interest will be fixed for the duration of the agreement, so you’ll always be able to budget for payments.

What are the different types of car finance?

There are a number of financing options available to motorists, ranging from a personal loan to contract hire. Our sales advisors will be able to detail the most suitable option for you.