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The Car Finance Company is based in Portsmouth and they have a supporting network of branches in Bristol, Chatham, Nottingham and Southampton. The launch took place in the year 2007 and they trade on the web through www.thecarfinancecompany.co.uk. This is a direct lender, although they are also setup as a broker. A Hire Purchase agreement is setup and they provide a finance calculator that allows you to pick up some quick prices. On this calculator they head amounts between £2000 and £6500 with terms of 12 to 36 months. As you can see, these amounts and terms see big restrictions in comparison to their rival sector lenders.

The example provided at 49.57% APR shows a £5600 priced vehicle over 36 months having a charge of £4200 and there is an extra £10 fee. They are simply charging 25% annual interest here that would calculate as: (£5600 /4 = £1400 x3 = £4200). Although a £10,000 48 month loan is not available, to just compare, the 25% charge would be £2500 each year. Over the 4 years the price would be £10,000 and then we finally add the small fee to equate to £10,010. Whilst this pricing is expensive, their product is directed towards bad credit and they are known for their high acceptance rates.

The www.thecarfinancecompany.co.uk site has been designed well, although no SSL is used. There is a login facility within the Customer Services page. The Car Finance Company operates between Monday and Friday from 8am to 8pm and the Saturday time is 10am to 5.30pm. This lender has picked up a series of industry awards over the years. Once you have been approved and handed with a credit balance, you are then free to choose a car from thousands of approved dealers across the UK. They can organise this for you and as I believe they have their own collection of cars at their central Portsmouth HQ.