What is Vehicle Finance

You may have some knowledge, you have perhaps had a type of Motor finance in the past, but we understand that even returning customers do not know everything they need to know about how financing a car/motorbike/van/caravan actually works – let GoFinance.co.uk break it down for you and give you some insight.

Firstly, people come to us if they do not have the funds to purchase the vehicle, or simply don’t want to dip into savings and are happy to make monthly repayments to make the purchase a reality.


The choice of finance products on offer can be vast, but essentially you are borrowing money from a credit lender, who will offer finance based on your individual circumstances.

The way to compare offers is to look at the lenders APR (Annual Percentage Rate). The lower the APR, the lower the monthly repayment, which will mean less interest paid back over the course of the agreement. The APR figure includes all costs and associated fees that may be charged, so always use APR to compare the offers on the table to you. The longer you take an agreement out the more interest will be payable – so try and take it over the shortest term possible depending on your monthly budget.

Deposits also play a big part, the more deposit you have to put down against your purchase, the less you borrow which in turn keeps your monthly repayments down.


You need to make sure you can afford the monthly repayments, and GoFinance.co.uk will make sure you are not overcommitting based on the information you provide to us – Although you may have your heart set on a Ferrari – you must be able to make the repayments now and in the future, so play it smart and keep within your means.

Do your sums and make sure you can afford it – we will guide you as much as possible, and there is always independent legal advice out there should you be concerned.


The rates available to you will depend on your individual circumstances and your credit score, we have a panel of lenders who can help customers, whether they have a perfect credit history or have had past or ongoing problems such as defaults or County Court Judgements.

We have been in this game a long time and know that there are lenders available who can and will help people who may feel their past problems will go against them when looking at finance.

Apply for Finance...

types-1 types-2


  • How quickly can the finance be completed?
    We will endeavour to come back to you within 1 hour with a decision from the point you make your online application. Once you are approved, we will ask you to locate the vehicle you are wishing to purchase. Once the vehicle is approved by the lender the quicker you return your documentation the quicker we can get you on the road!
  • Do you finance any vehicle?
    GoFinance.co.uk regularly help finance Cars, Vans, Caravans and Motorbikes. So we would like to think we cover a broad spectrum of vehicles.
  • Do you accept bad credit?
    Yes we do. A high portion of customers we speak to on a daily basis have experienced some sort of credit problems in the past. We have a large panel of lenders that help such customers so please get in touch and we will try our best to match you up to a finance lender.
  • Can I apply Online?
    Yes. You can either complete our short online application form or pick up the phone and we can complete the application online. We do like to speak to all of our customers, so once you have made your online application one of our experienced sales advisors will be in contact to talk you through the next steps.
  • What sort of deposit do I need?
    The deposit required can sometimes depend on the lender you have been accepted by. Not all lenders require a deposit, so you can finance the full amount, although some dealerships may ask you to put a small amount down to secure the vehicle before your finance is paid out. Remember, if you do not have a deposit, you will be borrowing a higher amount so will pay back more in interest.
  • What is the interest rate?
    The interest rate depends entirely on which lender you are accepted with and your credit history. To give you an idea, please refer to our finance calculator. A GoFinance.co.uk personal advisor will be able to discuss the rates available to you once we have had sight of your application.

Apply for Finance...