Depending on the the strength of your application and the type of vehicle a lender may fund up to 100% of the vehicle’s value or purchase price. They may require additional security or a guarantor to do this, depending on the vehicle or your credit score.
What type of car will you lend on?
When deciding if your car might be suitable as security against your loan, a good rule of thumb is that we generally look at vehicles that are:
up to 15 years old
in good condition
currently warranted (WOF) and registered, or will become warranted and registered as a condition of the loan
What security do I need to provide for an invoice finance facility?
Usually your lender doesn’t require personal assets for security. They fund your business by taking the following:
A General Security Agreement (GSA) – This is a registered charge that sits on your business.
A Factoring Agreement – This is a contractual agreement assigning all of your invoices to us while defining the rules of the facility.
Personal Guarantee – Personal Guarantees will be required from directors and in some cases shareholders who are not directors. As we only fund to the value of invoices, this guarantee will only be called on in an instance of fraud or default.