Your car finance questions

How does car finance work?

At Forza Finance we have an exclusive panel of lender partners through which we compare hundreds of finance deals to find you some of the lowest possible rates and monthly payments available.

Use our online finance calculator to pick the finance option that best suits you. The most common options are: Personal Contract Purchase (PCP), Lease Purchase (LP), or Hire Purchase (HP). Once you have decided what option suits you best, you can apply online. It’s a simple process that requires a bit of information about you, once you complete a finance application online, you are able to get a decision in no time.

Once your finance application has been approved, your finance specialist will work with your chosen dealership to keep them in the loop ready for you to collect your new car. It's as easy as that.

What are the different types of car finance?

Personal Contract Purchase (PCP): You put down an initial deposit and you agree to pay monthly payments over a set period of time. At the end of the agreement, you can hand back or part exchange your car with an optional final payment should you choose to keep the car.

Lease Purchase (LP): Similar to PCP, you pay an initial deposit and agreed monthly payments. At the end of the agreement, there is a balloon payment, you can either part exchange for a different car or settle the outstanding amount.

Hire Purchase (HP): You put down an initial deposit and then agree to monthly payments over a set period of time. At the end of the agreement, you will own the car or have the choice to part exchange into a different car too.

Can I use your car finance to buy a car for business purposes?

Yes. We provide a wide range of highly competitive finance packages that have been developed to meet your specific financing needs.

What is APR?

APR or Annual Percentage Rate refers to the total cost of borrowing for a year including fees and interest. 

What is residual value? And GFV?

Residual Value refers to the resale value of your vehicle at the end of the finance term.

GFV refers to Guaranteed Future Value. It is a guaranteed valuation of what the vehicle will be worth at the end of the finance term, if you choose to hand it back.

What is a mileage allowance?

Mileage allowance refers to the amount of miles you expect to cover within your agreement.

Is it hard to get accepted for car finance?

There are things that you can do to ensure you have the best chance of getting approved. Providing the most up-to-date and correct details, researching your own credit score, and knowing the criteria of your finance company to ensure that you are eligible are all important things to know.

Do you offer car finance for motorbikes or vans?

Yes, we do. We have access to a number of specialist vehicle finance deals from our exclusive panel of partner lenders to source the best deal for you on motorcycles, motorhomes, and vans (commercial vehicles).

What is depreciation?

Car depreciation refers to the rate at which your car loses its value over time. In simpler terms, it's the difference between what you pay for a vehicle and what it's worth when it's time to sell it or trade it in.

What’s the difference between a soft credit check and a hard credit check?

A soft credit check looks at loans, lines of credit, your payment history, and any collections accounts, tax lines, or other public records in your name. These don't affect your credit score.

A hard credit check looks at your financial history, any applications for credit, and if you are currently responsible for any repayments. Hard credit checks look at your credit report, any overdue payments, or any debt collection cases.

What our customers say