Finance Terms
InterestFree4Cars.com is a trading style of Motor Depot Limited.
Motor Depot Limited, trading as InterestFree4Cars.com (VAT Number: 780 4977 88), is an appointed representative of ITC Compliance Limited, which is authorised and regulated by the Financial Conduct Authority (FCA registration number: 313486). Our role includes advising on and arranging general insurance contracts and acting as a credit broker, not a lender. Finance options are subject to credit acceptance and are available to UK residents aged 18 or over.
Applying for Finance
When you apply for finance through the 'Apply for Finance' option on our website, the first step is a Soft Credit Search. This initial search allows us to check your eligibility with our pre-approval lenders without affecting your credit score. The soft search will be recorded on your credit file but is only visible to you and will not impact your credit rating.
Once you are pre-approved with one of our soft search lenders, we will seek your permission to proceed with a Full Finance Application, which involves a Hard Credit Check.
A Hard Credit Check means that finance companies will carry out a more detailed search of your credit report. Unlike a soft search, this will be recorded on your report and visible to other companies. It’s worth noting that multiple hard checks in a short time can affect your credit score for up to six months, which might reduce your chances of being approved for future credit. That’s why we only proceed to this step once you are pre-approved and have given your consent.
What Happens After You Apply?
Once your soft search has been completed and you're pre-approved, one of our team members will contact you to discuss the finance options available. We will work closely with you to find the best finance package based on your circumstances and needs, partnering with a variety of mainstream and alternative lenders.
If you have any questions or need assistance, feel free to call us on 01482 606767, or use the online chat feature on our website to speak with our team.
Additional Information
Please be aware that terms and conditions can vary between lenders, and we will explain everything in full once your finance is approved.
Remember, the lender retains ownership of the vehicle throughout the agreement. If you miss repayments, they may have the right to repossess the vehicle.
During the finance term, you are responsible for the maintenance and upkeep of the vehicle. This is especially important if you choose options like Personal Contract Plan (PCP) or Contract Hire, as failing to maintain the vehicle could result in financial penalties.
Representative finance examples are provided for illustration only. Your specific terms, including excess mileage charges, may vary between lenders.
Initial Disclosure Document
A PDF of InterestFree4Cars.com's Initial Disclosure Document can be downloaded here.
Postal address: InterestFree4Cars.com, Bridge Haven One, Saxon Way, Priory Park, Hessle, East Yorkshire, HU13 9PG