Financing left-hand drive vehicles
Financing a left-hand drive car is typically not a problem.
In practice though, a little thought and some specialist advice may be required.
Why left-hand drive in the UK?
There are several reasons why someone driving in the United Kingdom might prefer a left-hand drive (LHD) vehicle. They might include:
- you are looking to purchase a rarer or specialist vehicle, which is not available in a right-hand drive version;
- perhaps you regularly drive to the continent as part of your business or family lifestyle and prefer the greater safety associated with using an LHD car for your continental driving;
- possibly before living and working in the United Kingdom, you had all your driving experience in a country with LHD as the norm. As such, you might simply feel more at home behind the wheel of a left-hand drive car:
- you might be contemplating the importation of a classic LHD vehicle;
- perhaps you’ve found an LHD version of a vehicle far cheaper in continental Europe than you can see for the same RHD model in the UK.
Whatever the reason, it’s possible to find yourself in the position of needing to consider financing left-hand drive vehicles.
Providing certain, relatively modest requirements are met, it is perfectly legal to drive LHD cars in the UK.
However, some generalist car finance providers might not be able to process applications for financing left-hand drive vehicles. There are several potential reasons for that including:
- they may consider that LHD vehicles can be difficult to on-sell if they are forced to do so. That can negatively affect the vehicle’s book value, from the viewpoint of some (but not all) lenders;
- some specialist or more unusual LHD vehicles may not be available in RHD variants, so the funding provider may struggle to find information about them in their standard vehicle valuation references.
For those reasons, you may find it easier to seek the help of Forza Finance rather than trying to find your own finance provider willing to take on LHD vehicles.
What you’ll need
Broadly speaking, we can offer the full range of finance products in the context of financing left-hand drive vehicles. Your checklist, therefore, won’t differ from a similar financing discussion for right-hand drive cars, namely:
- you’ll need to show that your overall financial position indicates you will be able to meet the repayments associated with the financing. That will include providing appropriate evidence of your employment income or overall financial status in situations where you are self-employed;
- your credit history will need to be acceptable (various categories of past credit history issues are typically not a problem);
- the vehicle you’re considering will need to be appropriately priced in terms of market norms;
- some form of contribution from your own finances will be required;
- you will need to be resident in the UK with a verifiable address. That is usually based upon the electoral roll plus other proof of domicile.
These things are typically entirely routine.
If we help, you should not have difficulty finding options for financing left-hand drive vehicles – providing the above conditions are met.
Why not contact us for an early and entirely non-committal discussion?