Finance FAQs

1 Do you offer instant credit?

Many finance lenders still take 24 hours or more to reach a decision once you have applied for a loan.

With The Co-operative Motor Group we usually let you know within 10 minutes, even at weekends. This ensures that you don't miss out on the car you've set your heart on.

The Co-operative Motor Group offer this speed of service to ensure that you can buy the car that's right for you right now! ...and because of the care we take in understanding your needs, we never compromise on being able to offer you the right advice so that you can make the right choice.

Back To Top | Back To Question

2 Do you offer tailored flexible payments?

Unlike most finance lenders, The Co-operative Motor Group can offer you totally flexible payments.

The term of your loan can be tailored to fit your budget exactly ...to the penny! No longer do you have to borrow more or less than you actually need. This means that you can borrow an affordable amount to secure the car that you want, over the shortest possible payment period.

This is a great way to save paying unnecessary interest charges. We are not tied to specific monthly periods such as 24, 36, 48. We can arrange a finance agrrement anywhere between 12 and 60 months. All you need to do is decide how much your maximum budget will be.

Alternatively you could choose to extend your payments a little to make your new car even more affordable ...the choice is yours!

Back To Top | Back To Question

3 Do you offer low interest rates?

Unlike most direct lenders, we are able to offer competitive rates for the amount you need to borrow, with no strings attached!

Whilst most direct lenders advertise a competitive rate, you would normally have to borrow a significant amount of money over a long repayment period to qualify for it. This is because their only income comes from lending you the money.

Here at The Co-operative Motor Group we have two income streams and our primary aim is to sell you a car that is affordable to you. Offering great finance deals enables us to do that, as most of our customers will want to borrow some or all of the money to purchase their new car.

As part of the Co-operative group, we back this up with industry leading customer care and superb service. Our friendly sales staff will help you to compare offers and choose a car and payment package that is right for you!

Back To Top | Back To Question

4 Can I buy a vehicle with zero deposit?

Most motor dealers fix a minimum deposit as a percentage of the price of your new vehicle.

Here at The Co-operative Motor Group we assess the deposit needed according to your budget and the vehicle you wish to buy. This means that the deposit can often be as low as zero, providing you with total budget flexibility leaving you to choose the amount you want to pay, whilst at the same time enabling you to buy the vehicle you want now!

Back To Top | Back To Question

5 Do you offer cash back?

At most motor dealers, the allowance for your part exchange is deducted from the price of your new vehicle.

At The Co-operative Motor Group, where the part exchange allowance exceeds the minimum deposit required by our financial institutions, you can choose for The Co-operative Motor Group to pay you some or all of the difference as "Cash Back".

This means that whilst ensuring that your repayments remain affordable you could release a useful cash sum to spend as you wish.

Back To Top | Back To Question

6 Can I make advance payments?

Most finance agreements are paid a month in arrears, in other words you pay at the end of each month.

At The Co-operative Motor Group, you can choose to make payments in advance. By choosing to do this you can make a worthwhile saving on the overall amount you repay, thereby lowering each repayment. This can be an excellent choice for customers who are changing from an exisiting finance agreement, to one provided by The Co-operative Motor Group ...why pay more than you need to!

Back To Top | Back To Question

7 What is low start?

A unique financial solution available on selected vehicles from The Co-operative Motor Group that is similar to the way many mortgage offers are structured.

With "Low Start" your requirements for the first year are set at about half the normal cost. They then rise in year two and three of your agreement.

This means that you can choose to make a buying decision today that fits with your current budget, whilst not letting it restrict your buying power. This is particularly useful if you expect your budget ti improve in subsequent years as a result, for example, of changes in your salary or other personal circumstances.

...So the car you want tomorrow becomes affordable today!

Back To Top | Back To Question

8 What is half start?

Half Start is available on selected cars from The Co-operative Motor Group.

You can choose for The Co-operative Motor Group to pay up to half your payments for the first year. This reduces your financial commitment now enabling you to buy the vehicle you really want based on your present budget circumstances.

This is particularly useful where you expect your budget circumstances to change later but do not want that to restrict your buying power now.

Back To Top | Back To Question

9 Can I defer payments?

Most finance lenders will expect you to start paying for your new car the month after you bought it.

Suppose you have seen the car of your dreams, but don't have the budget to pay for it this month, or perhaps you are buying the car just prior to Christmas, a holiday or similar event.

At The Co-operative Motor Group you can choose to extend the start date of your first payment by up to three months from delivery.

This means that you can enjoy your new vehicle now whilst making the best of your personal finances.

Back To Top | Back To Question

10 Can I take a payment holiday?

A new car is a significant purchase for most people and whilst The Co-operative Motor Group will advise you on how to make your purchase as affordable for you as possible, it can tie up your finances for many months. Some people find it difficult to find extra money at special times of the year such as holidays or Christmas.

Here at The Co-operative Motor Group this isn't a problem. You can choose to take a regular payment holiday payment, say for example at Christmas, which will enable you to manage your finances at an expensive time of the year.

Back To Top | Back To Question

11 What is a personal contract plan?

A personal contract plan is fast becoming one of the most popular methods of vehicle acquisition. Yet is still not offered by the majority of direct lenders!

A personal contract plan means that you only pay for part of your new car over the period that you intend to keep it, for example, 2 or 3 years.

The Co-operative Motor Group will calculate what your car will be worth at the end of your period of ownership based on today's market value trends and then deduct this from the overall cost. The great news is that in an uncertain future market place, the amount your car will be worth is guaranteed and because you are only paying for part of the car, your monthly payments are often reduced.

It gets even better than that! ...if the amount your car is worth exceeds the guaranteed minimum value, you can keep the difference or like most customers who prefer this method, use this money as a deposit on your next vehicle, the choice is yours!

Because you are in effect, only paying for the usage of the vehicle for the time you plan to keep it, rather than it's ownership for life! You may often find that you can afford to drive a much higher specification vehicle than you would expect. You'll also be driving the latest model and can minimise maintenance costs!

Back To Top | Back To Question

12 Do you offer confidential free advice?

All The Co-operative Motor Group sales staff are specially trained to help you find the right vehicle for your circumstances, one that matches your wants, needs and budget requirements.

Many of our products and services are govererned by the Financial Services Authority (FSA). We take our commitment to regulation under this authority seriously and as such, we always aim to give you the best possible advice that is right for you, not for us!

In addition, we comply with all current data protection laws and unlike many high street lenders and banks, we will not pass on your personal details onto "junk mail" companies or inform third party entities such as employers, etc.

To set up any credit agreement with us only takes minutes. We do not require lengthy sets of intrusive personal details such as your income and outgoings as required by most lenders.

Arranging your finance with The Co-operative Motor Group is easy, hassle free and very convenient ...you make the choice!

Back To Top | Back To Question

13 What if I have a poor credit rating?

Many of us from time to time have had difficulty meeting repayments on credit agreements or perhaps have got into difficuly with courts where further actions have been taken.

Some people have difficuly arranging credit simply because they have not built up a credit history or don't have their own home. Whatever your circumstances are, The Co-operative Motor Group can often help!

Choose The Co-operative Motor Group as your vehicle supplier and you will have access to experts who can help to rebuild your credit rating whilst at the same time ensuring that you are able to buy the very best vehicle for your budget requirements.

Our expert advice is of course always confidential and designed to help you get back on track!

Back To Top | Back To Question

14 Do you offer protected payments?

In an uncertain world, it is important to protect yourself against changing circumstances.

Almost all of us can find ourselves in a situation where our financial circumstances change for employment or health reasons. Most finance lenders offers some form of payment protection plan to help in these circumstances, some cheap with very limited cover, some very comprehensive but very expensive!

At The Co-operative Motor Group we have researched the needs of our customers thoroughly and have a balanced range of excellent payment protection plans available. The significant peace of mind offered by these plans are specifically tailored to fit your personal and budget requirements, you choose the level of cover that's right for you. By doing this you won't be paying out for cover that you don't need and because our payment protection plans are affordable you won't have to sacrifice the cover you need just to save a few pence!

The Co-operative Motor Group strongly recommend that all of our customers consider some form of financial protection based on their particular circumstances.

Back To Top | Back To Question

15 Do you offer fixed interest rates?

Just like a mortgage repayment, the interest rate on a repayment agreement can be either fixed or variable.

To help make the payments on the car you want affordable and easy to manage, choose The Co-operative Motor Group finance where the rate is fixed for the term of the loan. This means that you can take advantage of today's low interest rates safe in the knowledge that you can accurately budget for the payments on your car along with other regular outgoings.

Back To Top | Back To Question

16 Do you offer guaranteed settlement?

Most people when entering into a loan agreement only tend to consider "How much they are paying back per week or per month?" and "How many months they pay the loan back over?"

At The Co-operative Motor Group we have introduced a third element for you to consider.

It may be that you have decided to take on a loan period longer than you originally intended, to enable you to buy the car that is right for you. Some people think incorrectly that they have to keep the vehicle until all of the repayments have been made. This is not the case, Here at The Co-operative Motor Group we can give you a guaranteed settlement certificate that will tell you exactly how much you will owe on your loan at any point in the repayment period. This means that you stay in control and you can choose to come back and swap your vehicle at any time, knowing exactly how much you have to carry forward as a deposit on your next vehicle.

Back To Top | Back To Question

17 What is invoice price protection?

Unfortunately, most peple at some time in their lives experience an accident or theft involving their motor vehicle, very often through no fault of their own. However even fully comprehensive insurance only pays out at best the current market value for your vehicle, almost leaving you with a large financial gap to replace your vehicle with a similar one. Traditionally many of our customers ended up having to find a much cheaper car.

This doesn't have to be the case. The Co-operative Motor Group invoice price protection is a superb product that pays the difference between your insurance company settlement and the price that you originally paid for your car. It's easy to arrange and claim and very affordable ...Choose The Co-operative Motor Group and we will have you back on the road in no time!

Back To Top | Back To Question

18 What is financial shortfall protection?

The Co-operative Motor Groupfinancial shortfall protection is similar to invoice price protection but this product gives our finance company great protection at an affordable price ...Who wants to be left without a car and still have to keep paying their finance agreement, or worse still having to take out a second agreement to finance a replacement vehicle!

The Co-operative Motor Group finance shortfall protection pays the difference between your car and insurance settlement and the amount required to clear your finance agreement in full. This means that you will have nothing left to pay leaving you free to take out a new agreement on a superb new vehicle ...a sensible choice for anyone planning to borrow all or some of the money to pay for their next car!

Back To Top | Back To Question

19 Can I have a free valuation of my current vehicle?

Every Co-operative Motor Group dealership will be pleased to offer you a completely free part exchange valuation without obligation.

This will provide you with useful information about the current market value of your vehicle; what your vehicle might be worth in part exchange, and what The Co-operative Motor Group will offer you for it.

This can help you budget effectively and ensure that you are getting the best possible value out of your current vehicle! It also makes changing vehicles easy, with no advertising costs and none of the hassles associated with arranging viewings or even the worry of not selling the vehicle at all.

A free vaulation from The Co-operative Motor Group makes it easy to choose your next car!

Back To Top | Back To Question

20 Can you settle my existing finance?

At The Co-operative Motor Group we can arrange to settle your existing finance easily without hassle.

Many of our customers find that they can choose to settle their exisiting finance and buy a new vehicle for the same or similar weekly / monthly payment!

Back To Top | Back To Question

21 What is business express?

Many Co-operative Motor Group customers are self employed; VAT registered or have their own companies. The options available to these customers are almost limitless. The problem is that traditionally the advice available to these customers is very limited.

The Co-operative Motor Group staff are trained to understand your particular needs and offer a range of practical solutions, not just a quick price that means nothing.

Our business staff have access to a portfolio of superb ownership or usage only packages taht are both efficent, cost effective and beneficial to cash flow.

These packages include lease purchase, finance purchase and contract hire. Each package can be tailored to the last detail just for you and you may wish to include thigs like servicing and maintenance, breakdown cover and even tyre replacement as part of your package. This means your vehicles are easy to run and manage with no financial surprises. All you need to do is choose what's right for you and your business and let us do the work for you!

Back To Top | Back To Question