New vs Used Car: Which is Best for Me?

Row of new and used cars outside a car dealership

Buying a car is enormously exciting, albeit a little overwhelming. There's so much to consider like the make and model, time frame for delivery, initial budget and future finances. On top of this, and perhaps most importantly, there's the age-old question of whether you should buy something brand-new or used.

It’s easy to see the appeal of owning a new vehicle, specially designed with all the features you could ever need (and who can resist that new car smell?). Plus, more often than not, cars straight off the delivery line include generous finance offers from manufacturer dealerships.

On the other hand, more people than ever are opting for used cars thanks to their affordability and improved reliability. Nowadays, you can find plenty of pristine models on sale that haven’t maxed out their odometers. What’s more, the increase in finance deals within the market means owning your perfect car is more realistic than ever.

Ultimately, there are benefits to both routes. However, if you’re still confused, keep reading for more details that’ll help you make the right decision on buying a new vs used car.

Five benefits of buying new cars

1. You get exactly what you ask for

When you order a brand-new car, you have control over the exact specifications. This means you can pretty much design the vehicle of your dreams.

Choose from dazzling exterior colours and smart interior trim to fancy roofs and heated steering wheels. The key thing is, you don’t have to compromise on your preferred style.

2. Generous finance deals

Contrary to popular belief, you could actually save more money long-term by purchasing a new car. This is because most manufacturers incentivise sales by offering enticing finance deals to promote their latest models.

Furthermore, many dealerships offer a 0% interest rate for the initial period. The result is that you could potentially pay off your car faster than some bank loans allow.

3. Longer warranties than used cars

The most convincing argument for owning a new car is the accompanying warranty. Manufacturers will typically offer at least three years. However, some cover you between five and seven.

As a result, you’re fully covered for malfunctions and breakdowns. This is extra-reassuring as new cars won’t have been thoroughly road-tested. Additionally, the majority of car warranties can be transferred between owners. You’ll benefit from having the upper hand if you want to sell the vehicle at a later date.

4. Improved safety features (and features in general)

Newer cars come equipped with a range of impressive technology. This can include high beams, automatic emergency brakes, adaptive cruise control, and intelligent sensor systems that limit potential accidents.

These improved features are particularly handy if you drive with children or take long trips because they make your journeys far safer.

5. More environmentally friendly options

If you’re looking for a fuel-efficient, hybrid or electric model, you’ve got the pick of brands such as Hyundai Electric, Tesla, Toyota Prius Prime. You’ll likely have to opt for something ultra-modern and at the cutting edge of technology.

Not only are environmental considerations at play, but these specific types of car can save you plenty of money in the long run on petrol and engine maintenance.

Five benefits of buying used cars

1. Available immediately

Imagine the frustration of saving for a brand-new car, finding your ideal model, then having to wait weeks or even months to take it home. The thought is almost unbearable.

Thankfully, this isn’t a problem when choosing something used. This is because it’s available immediately and, in nearly all cases, ready to drive home on the day.

2. Initial and long-term affordability

Affordability is the leading factor in why people prefer used cars. Not only is the initial price much lower (often between 30-50%) but used vehicles depreciate much slower. This means you’ll take a smaller percentage hit on the original price if you ever wanted to sell up.

It’s also worth noting that repairing and maintaining a used car is easier and cheaper than fixing a new one. Instead of going to the official retailer for spare parts, you can find everything you need at a reduced price online. However, do be careful not to invalidate any terms of warranty!

3. Discounted tax

New cars are always more expensive to tax and register. In contrast, you save a substantial amount with slightly older or second-hand models. Even older cars may also be subject to discounted tax. This is something worth checking with the dealership beforehand.

4. Cheaper insurance

It costs more to insure a brand-new vehicle because the more valuable the car, the larger the risk to insurers if there’s a collision. If you’re a new driver, or accident-prone, this should be a serious consideration before making your final purchase.

5. Proven reliability

There would be nothing more upsetting than taking your new set of wheels for a drive, only to find out there’s something faulty with the machinery. Unfortunately, it happens, and it means you might have to wait several months for repairs.

In contrast, older vehicles with more miles have already proven themselves to be trustworthy and roadworthy. Plus, the frequent lubrication and reduced carbon build-up associated with regular use could mean fewer maintenance costs down the line.

Final verdict

When it comes to car buying, there’s no right or wrong answer to the question of new vs used car. Instead, you need to make a decision based on your unique circumstances and preferences.

Arguably, the primary consideration should be your finances and budget. Bear in mind that experts say you should be able to pay the car off entirely in three years. If you can’t afford payments at this rate, you may need to look for a less expensive model.

To put your mind at ease, make sure to research new car models diligently and lean on customer reviews for reassurance. When purchasing a used vehicle, ask a mechanic to assess its condition beforehand. Alternatively, buy from a reputable used car dealer who offers guarantees and quality promises. Many dealers are often supported by household names such as AA and RAC.

How we can help you

At My Car Credit, we want to make securing car finance simple and accessible, whether you opt for a new or used vehicle.

To find out how we can help you, give us a call on 01246 458 810 or drop us an email at enquiries@mycarcredit.co.uk. One of our knowledgeable team members will get back to you as soon as possible.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

7 of the Best Cars for £5000 and Under in 2020

woman in car she bought for 5000 pounds and under

Do you need to upgrade your car? Or perhaps you’re looking to make your first purchase? While car ownership might seem like an expensive proposition, you can bag yourself a bargain for under £5000 if you know where to look.

When it comes to securing a new set of wheels for a price that won’t break the bank, searching the used market is a great source of value. Of course, you’ll have to ensure that the vehicle comes with all of the requisite paperwork and remains in a good condition. But taking the time to do so can pay huge dividends in the long run.

If you’re looking to purchase a new car but your budget isn’t the biggest, here’s a list of some of the finest models available for £5000 or under.

Top cars for £5000

1. Vauxhall Corsa

A top pick for young drivers, the Vauxhall Corsa is actually less popular than its rival the Ford Fiesta but offers better value overall. That’s because you can snap up a new model with better specifications and lower mileage for the same price as you would the Ford equivalent.

There are a variety of different Corsa options to choose from, but the Excite offers low insurance premiums and attractive design features, such as its 16-inch alloy wheels. There are both three- and five-door models available, and while the former are obviously cheaper, the latter offers greater headroom space and better manoeuvrability when opening the doors in tight parking spots.

2. Dacia Sandero

First entering the market at a budget-friendly £5,995, the Dacia Sandero was an affordable option from the get-go. However, netting a new model at that price will mean you forego many of the basic functions you might come to expect from a modern car, including air con, electric windows or even a radio.

Not to worry though, because dipping into the used market can yield significant benefits. If you go for an Ambience model, you should be able to get a Bluetooth- and USB port-equipped car with radio for under £5000. Source a Laureate and you can throw air conditioning into the mix, too. Best of all? The Dacia is already coming in at a bargain price, so its finance payments are likely to be fairly affordable, as well.

3. Toyota Aygo

The Toyota Aygo is put together from the same nuts and bolts as both the Peugeot 108 and the Citroen C1, meaning it offers similar handling, speed and interior space. However, there’s one crucial difference which sets the Aygo apart – it comes with a five-year warranty, rather than the three-year one that’s standard with the other two makes. That means that you can buy a vehicle that’s already three years old and will still have two years to run on its warranty.

It’s also one of the best cars for £5000 in terms of safety, having been crash tested in the not too distant past and producing respectable results. A model under that budget is unlikely to come with the bells and whistles of air con and Bluetooth, but such white elephants are there to be found if you’re lucky.

4. Honda CR-Z

For the environmentally conscious road user, the Honda CR-Z is a hybrid option that doesn’t compromise on sportiness for its fuel economy. You should be able to get above 50 miles to the gallon, while still enjoying a low-slung layout and impressive handling and acceleration.

It’s a three-door model and the boot space is just 225kg, so those with larger families or extensive luggage to cart around might want to look elsewhere. But its biggest draw is, of course, its hybrid credentials, and with a CO2 emission rating of just 117 grams per kilometre, you should be able to lock down affordable road tax, too.

5. Suzuki Grand Vitara

Looking for a cut-price SUV with off-road capabilities? Suzuki is a brand that’s always been synonymous with good value while not sacrificing durability and spaciousness in the process. Older models in the Grand Vitara’s Mk3 range can easily be located for under £5000, though it is likely that they’ll have racked up the miles due to their advanced years.

However, Suzuki’s reputation for robustness should mean that as long as you do your due diligence, read the paperwork carefully and check over the car’s condition, you can still come away with a bargain SUV that’ll serve you and your family well for years to come.

6. Volkswagen EOS

With summer now in full swing, it’s only fair to include a convertible on this list. The Volkswagen EOS is based upon the Golf model, only with the inclusion of soft-top capabilities. As with all drop-tops, it’s a good idea to not only check that the rollback function of the roof still works without a hitch, but that other aspects of the car are in good condition too. Convertibles are notoriously prone to picking up performance niggles.

Having said that, the EOS offers incredible value if you find one that has been taken care of properly. There are plenty of cars for sale for £5000 or under and if you’re really lucky, you’ll even bag leather seats into the bargain.

7. Nissan 350Z

At the turn of the century, the Nissan 350Z was Japan’s best-selling coupe and it’s still well worth an investment today. For those looking for an affordable sports car that can reach 60 miles in six seconds and looks as eye-catchingly impressive now as it did on its initial release, there are few better options out there.

Of course, Japanese engineering is highly prized, especially when it comes with a 3.5 litre engine and 300+ horsepower. But search the market with patience and you could land yourself a beautiful machine for a bargain price whose stunning appearance is matched by its slick performance.

Tracking down your budget buy

As you would expect when mining the used car market, it’s essential that you carry out a full inspection of the car and conduct a test drive before you sign on the dotted line. Also be mindful of the appropriate paperwork – any vehicle which doesn’t have a full service history, V5C documentation, MOT certificates and receipts for all maintenance jobs should send out red flags immediately.

While a cleaner track record normally indicates a healthier vehicle, you should also keep an eye on a couple of other factors. The average car will cover around 10,000 miles per year so avoid ones which have outstripped that tally relative to their age, while the number of owners can also indicate underlying problems. Generally speaking, the fewer previous owners, the better the bet.

Don’t forget to check out our own stock list of quality used cars, provided by our network of approved car dealers.

Getting vehicle finance

£5000 is a sizeable lump sum payment for anyone, so don’t worry if you can’t stump it all up right away. Car financing options are abundantly available these days and at My Car Credit, we can help you to find the deal that’s right for you.

To get an idea of the budget available to you, why not check out our simple car finance calculator? Alternatively, you can get in touch with us directly and speak to one of our friendly, knowledgeable team, who will be happy to walk you through the options open to you.

To see what we can do for you, give us a call on 01246 458 810 or drop us an email at enquiries@mycarcredit.co.uk. We’re waiting to hear from you.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Everything You Should Know Before Buying Your First Car

man smiling whilst thinking about buying your first car

Have you just passed your driving test and are ready to hit the roads? Perhaps you’ve been saving up money for a while now and are finally ready to purchase your first vehicle. Buying your first car is an exciting – albeit daunting – process. Not only are you making your biggest purchase yet, but you’re gaining a sense of independence and freedom.

Being a motorist can be expensive, and there are many costs to consider. Purchasing the right vehicle that fits your budget is the first and most important step to make. Below, we have a list of the essential things you should keep in mind as you start shopping for your first car. These should help you manage your finances throughout the process.

1. Assess your needs

Do you regularly haul goods? Need extra seats to transport the kids and family dog? Or are you looking for a nifty hatchback to squeeze into on-road parking spots? Assess your needs to narrow down the search.

For example, if you commute long distances to and from work every day, you will want a fuel-efficient vehicle that can handle lots of mileage. For that reason, you might consider a newer car with very few miles on the clock. If you need plenty of room in the back for transporting goods, you might consider a minivan or SUV over a hatchback. The right vehicle should complement your lifestyle and daily needs.

2. Determine your budget

Buying your first car goes beyond having the money to pay for it. You have to factor in the additional costs, such as vehicle tax, car insurance, MOTs, servicing and fuel. Work out how much you can comfortably afford to spend monthly and how much your deposit could be if you decided to finance your first vehicle.

Financing gives you more freedom to break up the cost of a whole car into easy and affordable monthly payments, which can help you buy the right vehicle for your needs. Consider working with car credit specialists to land the right finance plan for your budget.

3. Review your credit report

Lenders will check out your credit history when you’re applying for car finance. Even if you don’t think you have a history, if you have a phone plan, credit card or rent a flat, these items will be marked on your report.

Review your credit report to ensure there are no errors or anomalies, correcting any mistakes before you purchase your first vehicle. This can save you a lot of interest over the long-term.

4. Consider second-hand

The new car smell, pristine seats and the sparkle of a fresh paint job may have you eyeing up a brand-new vehicle. But this isn’t the only option you should consider. A new car’s value plummets the minute you drive it off the dealership’s lot, and you may be able to find a suitable used vehicle for a much better price.

Consider looking at used cars, and you may be surprised to find a nearly-new make and model of your dreams.

5. Do your due diligence

Check any car over before buying to make sure it’s roadworthy. If you don’t know what you should be looking for, take a knowledgeable friend or car mechanic with you to be sure.

Check the tyres, oil, engine, mileage, brakes, MOT history, and ensure all functions and features are in full working order. It’s also worth finding out if the vehicle has been in previous accidents or if there have been modifications or repair work that could affect it further down the line.

6. Take the car for a test drive

Most dealerships will allow you to drive the car before you buy it, allowing you a bit of time to get familiar with the handling. When going on a test drive, listen out for any noises that don’t sound right (any banging, hissing or screeching) and test out the speed (when the speed limit allows) that could bring underlying issues to the surface.

7. Negotiate the price

Whether you’re buying a new or used vehicle, the price is almost always negotiable. You may be able to save thousands of pounds if you haggle. Don’t be afraid to question the price. Most dealerships actually expect you to negotiate.

Even if there isn’t much wiggle room on the price, there’s no harm in asking. In fact, the dealer may be prepared to throw in some extras to sweeten the deal, such as free car mats or roadside assistance coverage.

8. Read through the paperwork carefully

Most car agreements are binding, which means that once you sign, there is little you can do to change the terms and conditions. That’s why it’s worth spending a few minutes reading through the contract carefully. If you aren’t sure what something means, don’t be afraid to ask the dealer for clarity.

You should also ensure that the logbook (V5C), service record and car manual comes with the vehicle as well as any spare tyres and keys.

10. Enjoy the process

Owning your first car is a big milestone to reach. Even though the process of buying a car can be overwhelming, the more planning you do beforehand, the easier it will be. With competitive financing rates and hundreds of great cars to choose from, your options have never been better. Car ownership is rewarding, and once you’ve secured reliable financing, hitting the open roads in your new ride will be that much sweeter.

Financing for your first car

Ready to take the plunge on buying your first car? At My Car Credit, we make the car financing process easy, seamless and hassle-free for first-time car buyers across the UK. Our team of financing experts will walk you through every step of the process to ensure you feel informed and confident with your transaction.

Whatever car you’re looking for, we can help you break up the cost into bitesize pieces. Calculate car finance and apply online or call us on 01246 458 810 to see how we can help you.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Buying a Used Car on Finance to Avoid Public Transport

man on public transport wearing a mask thinking of buying a car on finance

As different parts of the UK begin to emerge from lockdown, those who cannot operate remotely are now being encouraged to return to their workplace. At the same time, social distancing remains a key way to limit the spread of the virus.

This has created a conundrum for those who rely on public transport to get from A to B. The Department for Transport has admitted that physical distancing on buses and trains may be all but impossible. This has fuelled fears that those who use it may be putting themselves and others at risk.

What can be done to ensure you comply with government guidelines as much as possible, without sacrificing your livelihood? Buying a used car on finance could be the perfect compromise.

Public transport comes with potential risk

The chances of contracting coronavirus just by walking past someone who has it are relatively remote. However, the chances rise the longer that you remain in close quarters with other people. On busy buses and trains, keeping an adequate distance of two metres from others is not feasible. This can result in many people being caught between a rock and a hard place when it comes to returning to work.

For that reason, the government has advised using public transport only as a last resort. Official advice recommends walking or cycling for all or part of the journey if possible. In addition, travelling at off-peak hours and using stations and routes which are less frequently populated by others can help. Of course, for those working in a major city on a standard 9 to 5 schedule, following those options could be inconvenient at best and impossible at worst.

That’s especially true if long distances must be covered or if your town or city is not conducive towards easy bicycle riding. Fortunately, there is another way to get around the problem – by acquiring your own vehicle. This has the benefit of bypassing close contact with other individuals altogether.

Car finance to the rescue

Given that the coronavirus pandemic has brought with it an equally concerning economic crisis, making a large purchase might be the last thing on your mind right now. However, the health benefits of owning and driving your own car should be not taken lightly. When managed using appropriate car finance, you may be surprised to discover that buying a car is nowhere near as complicated or onerous as you might have previously imagined.

At My Car Credit, we pride ourselves on treating all applicants equally and fairly. Regardless of your circumstances and financial history, we consider all applications and deliver a decision within minutes. Our application process has also been designed with the end user in mind. This means the entire experience is made as simplistic and stress-free as possible.

We are in the privileged position, as an established credit broker with the largest panel of lenders, to find you the most favourable deals on the market. We can even help you to locate the car of your dreams through our extensive network of dealerships all across the country. To find out more about our services, or to start the ball rolling on your next car purchase today, simply use our car finance calculator and apply online. We’re waiting to hear from you!

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Distance Selling Regulations When Buying a Car During COVID-19

customer buying a car remotely during covid-19

As Britain begins to emerge from two months of strict quarantine measures, those living in England are now being encouraged to return to work if they cannot do so at home. The rest of the UK is expected to follow suit in the upcoming weeks. However, the government is still stressing the importance of social distancing and has advised the use of public transport only as a last resort.

As a result, many concerned individuals are looking into the possibility of purchasing a car to enable them to travel to and from their place of work safely and efficiently. Whilst car showrooms have, as of 1st June 2020, been given the go ahead to open their doors, there are still strict guidelines around how this should be done safely. Whilst dealerships will be busy implementing safety measures, you may prefer not to visit a dealership just yet. However, this doesn’t mean that you can’t purchase your next car!

As of the 13th May, 2020, the government has clarified on its own website that car dealerships can now operate “distance selling”. This means that instead of visiting the showroom, selecting a car and even taking it for a test drive, customers can now “click and collect”, completing the entire transaction online. In this post, we’ll take a closer look at how distance selling regulations work when buying your car.

A digital migration

The online marketplace has been encroaching upon the physical one for many years now. High street stores have been closing in their droves and bricks-and-mortar banks are gradually being phased out by their virtual equivalents. But there are some commodities that are more suited towards a physical visit. Car showrooms, where the product is literally test driven before the purchase is completed, is one such place of business.

However, the outbreak of COVID-19 has forced companies working in all different industries to readjust their way of working. Car showrooms are likely to remain out of bounds for the foreseeable future, but demand for cars has picked up once again, with one dealership chief executive stating that online enquiries for new car purchases had returned to the levels usually expected at this time of year. With that in mind, distance selling is a compromise that benefits everyone.

Instead of visiting the premises, interested buyers can check out the range of vehicles available online, perusing the showroom from the comfort of their own home. They can access information about any car’s vital statistics and call up the dealership to enquire further. Many dealerships are now providing in-depth video walk-arounds of the car, even doing this live so that customers can ask questions there and then. When they have settled upon the car they would like to buy, it’s then simply a case of making a deposit payment online or over the phone to secure the vehicle.

Should the customer opt to fund their car using My Car Credit, many of our lenders will provide a safe and secure e-Sign facility. This allows the customer to complete all of the paperwork without ever needing to visit the dealership.

The two parties can then arrange for the car either to be delivered to the buyer’s home or for the buyer to visit the showroom and pick it up onsite. In the latter case, the buyer cannot enter the showroom, but must complete the handover and the relevant paperwork in the dealership’s forecourt. This must all be whilst complying with all relevant social distancing and hygienic standards.

Buyer security

For those who are wary about making high-value transactions online, there is an understandable degree of concern about the safety and security of doing so. Fortunately, those concerns are addressed in a piece of government legislation called The Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013. Distance selling of automobiles has already been legal for several years, but only due to coronavirus is it becoming more prevalent.

Those regulations entitle the buyer to all of the normal rights they would expect when completing the purchase onsite, with a few significant differences. The main one regards the right to reject. With a conventional sale, the buyer is protected under the Consumer Rights Act 2015 and is allowed to reject the item within 30 days of completing the purchase, but only when their rejection is based upon solid reasoning. This reasoning could be, for example, that the car is faulty in some way. The dealer would then be under obligation to prove that the fault did not exist at the time of the sale. Failure to do so would result in them being forced to refund the sale in full.

A distance sale, by contrast, only gives the buyer a 14-day window of opportunity within which they can cancel the sale – but unlike a conventional transaction, they do not need to provide any reason for their change of mind whatsoever. This gives the buyer much more leeway in the decision-making process, since they are free to change their mind within two weeks of buying the car and do not have to worry about proving whether the product was faulty or not before the purchase.

For reference, the 14-day window begins as soon as the dealer has handed over both the vehicle itself and the written confirmation of the sale. Failure to transfer this latter component – either by email or in physical form when the car is dropped off or collected – could mean that the buyer is within their rights to return the car for a refund within a maximum of one year after the purchase.

Sourcing appropriate car financing

While the government’s green light for distance selling during the COVID-19 crisis is good news both for dealerships and those looking to buy, many people are still adversely impacted by the economic fallout of the pandemic. Funding any major purchase is a tall order right now, which is where car financing comes into its own.

Since 2015, My Car Credit has been helping drivers to finance the purchase of their next car through our efficient online system and extensive range of industry contacts. As experienced credit brokers, we can find the most favourable lending terms on the market, giving you an idea of the budget available to you. We can then help you to locate your ideal motor through our network of reputable dealerships and showrooms.

The service is open to everyone, regardless of employment status and credit history, and we can deliver a decision on credit finance for your unique situation within a matter of minutes. What’s more, the whole process can be managed online or over the phone, ensuring you adhere to social distancing protocol every step of the way. To take the first step towards your new car, calculate car finance today.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Fraudulent Car Dealers: What to Watch For

car for sale by fraudulent car dealer

The Financial Conduct Authority (FCA) recently issued a warning to the public about an expected rise in scam activity following the disruption and concerns caused by the coronavirus pandemic. It’s a time when many families and businesses are worrying about job and income security – which unfortunately makes for an ideal time for fraudsters to strike.

These uncertain economic times increase the potential for motorists to fall foul of fraudulent car dealers, or simply dealers whose businesses have become financially unstable. To help protect yourself – and your money – here are a few red flags to watch out for.

The basics of fraudulent car dealers

Due to COVID-19 and its financial pressure, there have been a number of businesses that have collapsed. This pandemic has shown us that no business is immune to financial strain. Right now, there is a higher risk of car dealerships going out of business once deposits have been paid.

Unfortunately, when you’re looking to purchase a vehicle during this time, you will be susceptible to some fraudulent dealers who are just looking to take your cash and run with it. It is up to you to ensure that you are working with reputable, trustworthy and financially stable dealers.

Red flags to look out for:

It sounds too good to be true. If you are considering a bargain deal – even in this unprecedented time – consider if it’s too good to be true. Whether it’s a car with only 15,000 miles on the clock or a new vehicle priced at half its value, you should always err on the side of caution.

• It sounds complicated. Scammers will often confuse their victims with industry jargon to sway them into agreeing to a price and a vehicle. If your car dealer doesn’t take the time to talk through agreements and acronyms, it’s time to find a different dealer.

• Used car dealers masquerading as a private seller. Some used car dealers pretend to be private sellers to avoid regulations. If you’re going to buy a used vehicle, do plenty of due diligence on the dealer’s business status and business address. Where possible, buy a nearly-new vehicle so that if there are any warranty issues with the vehicle, you’ll be able to resolve them quickly.

• Little to no online presence. Can’t find the dealership online? No website or reviews for the dealer? Credible sellers want to promote their good work through a website and social media channels. If the seller has no reputation, you have no idea what they are like to do business with.

If in doubt, report. Think that you’re onto a fraudulent car dealer? Motorists should report any scam to Action Fraud for further investigation. Doing so could help other people like you from being conned out of their hard-earned money.

How My Car Credit can help

At My Car Credit, not only do we work with motorists to find the right car financing plan for their needs and budget, but we have additional checks to ensure that our clients are protected.

• Our agents call every customer for security and identification purposes.
• We have enhanced due diligence checks to establish affordability.
• We have enhanced vulnerability checks.
• We check the suitability of every dealer on behalf of our customer.
• During the COVID-19 situation, we have changed our payout process to protect customers. We now do not release funds to the dealer until the customer confirms they have taken delivery of the vehicle.

Get started

At My Car Credit, we help you through every step of our safe and hassle-free car finance process. For an instant quote, and to see what car finance plan you can be eligible for, please use our simple car finance calculator. Contact us today on 01246 458 810 or emails us at enquiries@mycarcredit.co.uk to get started!

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

7 of the Best Cars for £3000 and Under in 2020

front of vw polo bought for 3000 and under

Just because you need to replace your car doesn’t mean that you have to go down the brand new, showroom-fresh route. You can buy almost any car imaginable in the used car market and – depending on the condition of the car – it can last you for several years to come. Although car ownership might sound expensive, there are plenty of affordable options. If you’re on a shoestring budget looking for a reliable vehicle, take a look at some of the best cars for £3000.

Top cars for £3000

 

1. Suzuki Celerio

The Suzuki Celerio is one of the cheapest cars on the market that you can purchase new from around £5,000. If you have a strict £3,000 budget, look for older models that feature the compact 1.0-litre engine. Not only does this make the car cheap to insure and tax, but you can enjoy a basic budget car that is ideal for town or city driving. 

2. Dacia Duster

The budget Dacia Duster has always been a bargain. Costing a mere £10,000 new for a family-sized SUV, older versions (pre-2015) can be had for under £3,000. However, make sure you find one with a decent spec as the basic models don’t even have a stereo or speakers.

Dusters are known for their rough-and-ready build quality. The interior is built to last, and there are roof walls which are ideal for when you need to lug around extra kit. There doesn’t tend to be many reliability problems with the Duster and it’s a great choice for travelling long distances. Most Dusters are 2WD, but there are 4WD options if needed, naturally costing a little extra. 

If you want to stick to your budget without compromising on family road trips, the Duster is a great way to go.

3. Peugeot 407 SW

Need a bit more space than what a Duster can offer? It may be an older model, but the Peugeot 407 SW estate is a vehicle large enough to haul all the kids and their luggage – and then some more! It’s a proper and practical family car with a no-nonsense approach. 

To keep to your £3,000 budget, you may need to look for 2.0-litre models with over 50,000 miles on the clock. But fear not, these tend to be great wearing cars that are built to last. When test driving the car, listen for rough sounds coming from the engine. As always, check the paperwork thoroughly before committing to the purchase. 

4. Mazda MX-5

The Mazda MX-5 is arguably one of the top affordable sports cars on the market. It certainly tops the best-selling charts, with around one million bought in the past 30 years. It’s also incredibly affordable on the used market. The open-top fun, exciting handling and jazzy colours offer plenty of style without having to part with too much cash. 

Look out for a 2005/06 registration with a 1.8-litre to give you the best used vehicle for your money. When testing out the used vehicle, make sure to check that the soft-top operates smoothly as the plastic gears can wear unevenly. 

5. Ford Fiesta

Known as one of Britain’s best-selling cars, the Ford Fiesta makes for an affordable vehicle to buy, run, tax and insure. If you don’t mind a higher-mileage vehicle, then you can get a sixth-generation Fiesta for your budget.

Ford redefined the supermini segment when it released the sixth generation of Fiesta (2008 onwards), and you can find a range of economical engines on the second-hand market. The award-winning vehicle also features low running costs, a fun driving experience and excellent practicality. 

If you’re looking for a familiar vehicle that fits within your budget, keep an eye out for older models of the Ford Fiesta.

6. Volkswagen Polo

Logic dictates that if a Ford Fiesta is included in this list, then the VW Polo must also be considered. Another one of the nation’s best-selling cars can be found within your budget. Your £3,000 will get you a decent fourth generation (2002-2009) VW Polo, and you’ll most likely be looking at a well-maintained 1.2 or 1.4-litre engine. 

The Polo’s reasonable running costs, easy handling and excellent German build quality make for a genuine bargain on the used car market.

7. BMW 3 Series

Believe it or not, but £3,000 can land you one of the finest all-round driving machines – the BMW 3 Series. Your budget will limit you to around the fourth generation, which was built between 1998 and 2006. Whichever trim and engine you go for, you’ll get to enjoy a great ride and lots of style.

Finding a used vehicle

It goes without saying that an inspection and test drive is a must, especially for cars that are older and have significant mileage. Keep in mind that the average Brit drives 10-12,000 miles per year, so look for a used car that has done less than that compared to their age. 

With used vehicles, it’s essential to find one that has a full service history, complete MOT certificates, maintenance receipts and the correct V5C paperwork. A car without these documents could indicate that the owner/s did not take proper care of the vehicle. Generally, the cleaner the service history, the better shape the vehicle will be in. 

Make sure you assess the number of car owners as more than two previous owners can sometimes be problematic. It can suggest that there is an ongoing issue with the car that the driver does not want to address or is financially unable to do so. 

Finance your next vehicle

Finding and purchasing your next vehicle doesn’t have to be difficult. At My Car Credit, we provide affordable car financing options for everyone. 

For an instant quote, and to see what car finance plan you can be eligible for, take a look at our simple car finance calculator. Our friendly agents walk you through the car financing process so that your car-buying experience is hassle-free and easy.

For more information, call us on 01246 458 810 or email us at enquiries@mycarcredit.co.uk.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Heavyweights: The Best Selling Cars of All Time

back of a ford fiesta car best selling car of all time

From Aston Martins to Bentleys, everyone has their dream car, which got us to thinking: what do most of us Brits end up with? Here’s our lowdown on the best-selling models in the UK of all time*.

1. Ford Fiesta – 4.13 million+ sold

From first time drivers to OAPs, who has ever looked out of place behind the wheel of a Ford Fiesta in the UK? We seem to love this crowd-pleasing hatchback model. In fact, the British public has apparently accounted for the ownership of roughly a quarter of the Fiestas that have ever existed. Icon.

2. Ford Escort – 4 million+ sold

That’s right, Ford takes first and second on our most sold models list in the UK. Despite this car being discontinued over 15 years ago, it dominated two decades worth of the automotive market – totting up an impressive number of sales in the process.

3. Vauxhall Astra – 2.8 million+ sold

This was by far the closest Ford ever got to any serious sales competition. The original Vauxhall Astra has been one of the best-selling cars in the UK since 1979. Its forty-year existence makes it one of the longest-living cars still in production.

4. Ford Cortina – 2.5 million+ sold

For a staggering nine-year run from 1972 to 1981, the Ford Cortina was the best-selling car in the country. In 1979, it broke a British record by making 193,000 sales and in its final year of production in 1982 it was second only to its sibling model, the Ford Escort.

5. Vauxhall Corsa – 1.82 million+ sold

This is the dream model for every boy racer that’s just passed their test. The Vauxhall Corsa has always been a popular car in the UK but experienced the height of its success from 2002 to 2005 where it was the best-selling supermini for all four years and in the top three best-selling cars overall.

6. Vauxhall Cavalier – 1.81 million+ sold

The Cavalier is a master of disguise. This family car has had many versions, facelifts and modifications including an estate and a sports coupe version. This automotive chameleon was one of the best-selling cars of the early eighties and was pipped to the top spot only by the Ford Cortina in 1984 and 1985.

7. Volkswagen Golf – 1.8 million+ sold

The Volkswagen Golf might not be the highest-selling hatchback on the market but it certainly holds claim to being the best. The Golf has received multiple international awards over twenty years for being an affordable car with great automotive technology – winning ‘World Car of the Year’ once and ‘European Car of the Year’ twice.

8. Ford Focus – 1.7 million+ sold

The Ford Focus had pretty big shoes to fill when it first came on the market, replacing one of the best-selling Ford models in the UK of all time (the Escort). It didn’t disappoint. The Ford Focus was a favourite amongst mums for its space and the Ford Focus ST was a favourite amongst boy racers for its speed.

9. The Mini – 1.58 million+ sold

Yes, of course, the Mini is on the list. This car has been an icon for the UK automotive industry for more than 50 years. Although it’s ninth on this list, the Mini often features on the top of the greatest British cars polls and is widely considered as one of the most influential models of all time.

10. Rover Metro – 1.49 million+ sold

Intended to be a follow-up from the classic Mini, the Rover Metro became a popular car in its own right: during its early years, it even outsold the almighty Ford Fiesta! Princess Diana also famously owned one before her engagement to Prince Charles – talk about British car royalty!

* Figures accurate as of 2014. Source: Society of Motor Manufacturers and Traders

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Will my dealer repair or replace the faulty car I bought?

Car mechanic checks over faulty car bought on finance

When you buy a new or used car, the last thing you want is for something to be wrong with your vehicle. However, this does unfortunately happen from time to time, and it’s best to know where you stand if anything should go wrong. Thankfully, there are guidelines in place – The Consumer Rights Act of 2015 – protecting you as the customer.

So, if you are experiencing issues that prevent your new car from operating as it should – you are legally entitled to have the car fixed or refunded. However, it’s important to be 100% sure that your situation falls within the remit of the guidelines. Here’s everything you need to know:

What is the Consumer Rights Act of 2015?

The Consumer Rights Act of 2015 was introduced in October 2015 and applies to any new or used car bought from a vehicle trader. This includes cars bought from a car dealership franchise and independent garage, but importantly not those bought privately via an individual or at a car auction.

This piece of legislation outlines the main criteria under which a car can be returned by you to receive a full refund. When you buy a car from a franchise or dealership: it must be of ‘satisfactory quality’, be sold ‘as described’ and be ‘fit for purpose’. If there is any breach of these conditions you can return the car within 30 days and receive a full refund. This includes any fault to the vehicle which has not been caused by you during that 30-day period time.

If there is a fault with your car, and it occurs after this 30-day period but before you have had ownership of the vehicle for more than six months, the vehicle trader must correct the fault. If they are unable to fix the vehicle, you can then return the car (note: the refund will however consider any use of the car up to this point).

In both cases, a replacement may also be a viable option. So, if you buy a car and really like the model, it might be more beneficial to ask the dealer for a replacement of the same model as opposed to pushing for a refund.

What counts as a fault with your vehicle?

This is where things get slightly more complicated. The basics of the matter is that anything which prevents your car from operating properly is a fault. For example, your engine cutting out, your windows not working or something wrong with the wheel axis, are all considered major faults. This would entitle you to a full refund.

If there are lesser issues, such as the seats not being able to be adjusted, the headlight bulb ceasing to work, or a problem with air conditioning (that was not specified on your purchase of the vehicle) your dealer is obliged to fix them. However, these issues do not entitle you to a refund.

Should there be any debate between parties over whether a fault is major or minor – we advise seeking legal advice and/or support.

How do you go about returning a car or having it repaired?

The first thing to do is make sure your complaint is recognised. ‘Recognised’ simply means calling up your dealer directly and informing them of the major or minor faults with the vehicle. This is standard protocol and gives you the reassurance that they know of your complaint. To back this up, you should always put your case in writing as well, this can be via email or post. We recommend email as the communications between you and the dealer are recorded and can be used for any legal procedures, if necessary.

If you have bought a car on finance, you follow exactly the same procedure but (depending on circumstances) the dealer will contact your finance lender on your behalf. To safeguard yourself, it’s always best to ask to be kept aware of these communications (via CC). You can also follow up with the finance lender yourself, if you wish.

When you buy a new or used car, the last thing on your mind is the possibility of something going wrong with the vehicle. In the unfortunate case that this does happen, it’s always best to know your options and have a good understanding of The Consumer Rights Act of 2015.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

Scammers: How to Avoid Rogue Vehicle Traders

Man signs finance agreement with rogue vehicle trader

Buying a car is a major commitment and the last thing you want to do is end up on the losing end of a bad deal. In case you haven’t seen the countless television shows and films that we have, not every vehicle trader can be trusted. So, we’ve come up with a checklist of things to do before you sign on the dotted line.

Do your research

The is the absolute-must of purchasing a car – the more online research you do before stepping onto a forecourt, the more chance you have of driving off it with a quality car! The first thing you want to be checking is their website, you should have good nosy around and make sure the website all works – a broken or disorganised website could indicate a broken or disorganised vehicle trader.

Also, make sure that there is plenty information on every car they have listed (e.g. a detailed specification, record of mileage, any minor damages)… essentially, the more detailed the car info, the less they have to hide.

It’s also worth checking out their social media platforms – if there are any unsavoury conversations in the comments section then you’ll know that their customer service isn’t up to scratch.

Check for reviews

It’s vital that you check a dealership’s reviews, they’ll give you a very good understanding of customer-facing experiences with said dealership and any issues after purchase. If people have had a bad experience with a dealership, you can be sure that they will have left a scathing review online. If you can’t find any reviews or testimonials, that is a big no-no – every car dealer in the country will put their reviews up online, it’s just basic salesmanship.

Also, if there are very few reviews for a relatively big dealership or loads of reviews for a small one, be wary – it could mean that reviews have been deleted or fake ones have been added to create a more positive appearance.

When you’re there

Always (and we mean always) ask to test drive the car before buying it – this is the only way to give you some reassurance that the car they are selling to is in the condition they say it is. Be wary of them asking you to drive another car in the same model, especially if the prices are different.

Ask for the MOT certificate and service history, and make sure all the details are correct. Also, take a good look at the V5 registration document, especially looking for any misspellings or slightly vague information.

If you don’t know much about cars, you should take somebody with you. A car salesman’s best skill is pretty much in the title – they are primarily good at selling stuff!

After the forecourt

To be 100% sure that you are getting a good deal on a car you’re about to buy, perform your own private history check online. This will tell you of any dodgy business, such as the car being stolen, having been in an accident, the correct mileage or if it has any outstanding finance. There are lots of companies that will do this and whilst it might set you back a few quid, it’s definitely worth it – especially if you’re making a big investment.

Just like Harry Wormwood in Matilda and Joey O’Brien in Cadillac Man, there are dodgy vehicle traders out there, people! The best way to guard against this is to do all the possible research that you can before you even take a step onto a forecourt, and to make sure you have verified everything before you make a purchase. We hope our checklist will help you to do just that!

My Car Credit is committed to providing trustworthy services for anyone looking to buy a new or used car. Our network of ‘My Car Dealers’ have been vetted by us for their customer service standards, after-sale service and their affiliation with the Financial Conduct Authority (FCA) to make sure you get the best car buying experience. With a vast selection of quality used vehicles available, all that’s left is for you to do is find the perfect car.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!