Can we finance people with poor credit history?
Rainbow Car Loans Ltd specialise in sub-prime finance. This means if you have been declined by your bank, prime lenders or have credit problems we will try our best to help you. If you have CCJ’s, defaults or you’re in arrears, why not give us a try?
Can we finance people with provisional driving licences?
We can finance people with provisional driving licences! It does however limit us to the number of lenders available to help you.
Can we finance people with international driving licences?
We can finance people with international driving licences! It does however limit us to the number of lenders available to help you. If you need help in obtaining a UK Licence then why not visit the DVLA website.
http://www.dvla.gov.uk/drivers.aspx
For a full list of European Licences we can now accept please click on the below link;
Can we finance people under the age of 21?
We can finance people under the age of 21. However, they will require a guarantor over the age of 21. The minimum age is 18.
Do we offer GAP Insurance and Payment Protection Insurance?
We offer both GAP and Payment Protection Insurance. For further information on each of these insurance products, please view the below links;
Do you need to buy a car from us?
Rainbow Car Loans Ltd is a broker arranging finance and do not supply the vehicles. This means you have the freedom of choosing your own vehicle from any dealership in the UK. All we require is the dealership to hold a Consumer Credit Licence (CCL) and have trade premises.
How long does the process take?
The process from start to finish can be a relatively quick and smooth process. For a more detailed breakdown please follow the below link to the step-by-step process guide.
The step-by-step process guide
What rate of interest will I be paying back?
It is practically impossible to give exact indications as to the rate of interest. It depends on which lender is being used, which criteria within that lender you are accepted on, personal credit limit obtained from earnings, value of the vehicle being financed and the term in which we will be financing over. Once we have an application from you we can begin to process your application.
Do I receive the funds myself?
All funds are paid direct to the dealer. The method of transfer will depend on lender being used to finance the vehicle.