FAQs
Representative Example
Rates from 9.9% APR, Representative APR 21.4%. Borrowing £10,000 over 60 months with a representative APR of 21.4% fixed rate, monthly payment £260.83, Total cost of credit £5,650, total amount repayable £15,750.Presto Finance Ltd is a credit broker, not a lender.
Do I need a deposit?
In some cases our lending panel may require a deposit, but not always. We will always compare and get you the line of credit that best suits you. Nil deposit can be an option.
Can I Part Exchange my current vehicle?
Yes absolutely, this will help with your application as the price of your car can be treated as a cash deposit. This will bring down the total cost and the monthly payments.
How much can I borrow & what rate of finance will I get?
These are decided by the finance lender based on your credit profile & affordability. We will compare offered rates and lends from our panel and get you the best rate we can.
What proofs or documentation will I need?
We will always need some form of Driving Licence, whether that be Full UK, Provisional or an EU licence. Some finance lenders may require proof of income such as 3 months wageslips or bank statement or ask you to complete an Open Banking Link. You may also be asked for a proof of address such as a utility bill.
What is an open banking link?
Open banking allows you to share certain financial information that only you and your bank can see, such as your balance & transaction history, with other financial providers or services of your choosing.
Can I apply if I am self employed?
Yes, being self-employed is no obstacle to getting car finance.
Will this affect my credit score?
No, at this stage we will only undertake a soft search which is temporary and will not affect your credit file. However, should the application proceed a hard search will then be undertaken by the lender, this will then affect your credit.
