Car Finance FAQs

FAQs about financing luxury, classic and high performance cars

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Most frequently asked questions

I would like to talk to someone at JBR, how do I get in touch with you?

We are here for our customers at this difficult time and will be happy to speak with you. Please call 020 3355 0051 or email collections@jbrcapital.com, we have a dedicated team on hand to respond swiftly.

Is there a minimum amount you lend?

We lend anything from £25,000 to £10m+.

What type of finance agreements do you offer?

You can get the car of your dreams either on a hire purchase or lease purchase agreement.

The hire purchase agreements are a straight forward way of buying a car, where you pay regular monthly installments for the duration of the agreement. Check our hire purchase guide.

If you want to pay lower monthly payments, lease purchase might be better suites. It works the same way as a hire purchase agreement, just that part of the loan value is deferred at the end of the agreement. Check our lease purchase guide.

How much deposit do I need?

The deposit required for your car finance depends very much of the amount you want to lend and the car you want to buy.

We usually start from a 10% deposit for new and pre-owned vehicles, while for a classic we will request at least 25% deposit. In very exceptional circumstances we would also consider 5% deposit, however we will have to discuss your financial circumstances to assess what is the best for you.

It’s good to remember that if you put a larger deposit down, your monthly payments and the balloon at the end of your agreement will be smaller.

How quickly can I get a loan?

If you have all documents needed and the value of the loan is under £125,000 we can get your loan approved in 2 hours.

If you are approved and all documents are received and signed off before 2pm, we can make same-day payouts, so you can drive away in your dream car by afternoon.

If you have a more complex deal or borrowing over £150,000 we might need some extra time to get the deal approved, we might look at a couple of days to get it all setup depending of the complexity and of how fast you can provide us with all your documents .

I have bad credit, can I still get car finance?

The short answer is: Depends of your circumstances.

We take a holistic approach to credit underwriting and assess each application on its own merits. There are often very valid reasons why someone has a less than perfect credit history, and we always take into account each individual’s circumstances. 

 

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What cars do you Finance

What cars do you finance?

We finance both new and used cars, with a value over £32,000.

Our loan book includes supercars, classics and prestige car; from Ferrari Dino to Aston Martin Vantage V8, Porsche 991 and footballer’s all-time favorite Range Rover Sport.

Do you finance classic cars?

Yes, we finance anything from modern day classics (cars older than 10 years, but not over 30) to post-Words War II and vintage pre-World War II vehicles.

The loan criteria will depend on the vehicle and its condition, however we would look at a minimum 25% deposit and a balloon of up to 45% of the value of the vehicle.

Do you finance restoration projects?

Yes. If you buy a classic and want to start a restoration project, we can help you finance your project.

Can I finance a used car?

Yes, you can finance pre-owned, second-hand cars as long as the value of the car is over £32,000.

New cars tend to depreciate massively in the first 2 years since launch, so lots of time is more secure to buy a pre-owned vehicle that has already depreciated.

Are there any limitations on where I can buy my car?

No, you can buy your car from any recognized dealership, an independent dealer or private seller.

You can also get a credit line ahead of a car auction, so you can have peace of mind when you bid for your desired vehicle.

Can I sell my car?

Yes, you can sell the car during your finance agreement.

Will I have a mileage restriction?

When you get a hire purchase or lease purchase agreement with JBR Capital you won’t have any mileage restrictions.

How long will it take to get my new car?

Once the loans application gets approved we can release the funds in the same day.

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Finance Products

What type of finance agreements do you offer?

You can get the car of your dreams either on a hire purchase or lease purchase agreement.

The hire purchase agreements are a straight forward way of buying a car, where you pay regular monthly installments for the duration of the agreement. Check our hire purchase guide.

If you want to pay lower monthly payments, lease purchase might be better suites. It works the same way as a hire purchase agreement, just that part of the loan value is deferred at the end of the agreement. Check our lease purchase guide.

What is the difference between hire purchase and lease purchase?

Lease purchase finance agreements work the same way as a hire purchase agreement, with the only difference that you can defer a part of the loan to be paid at the end of your agreement, which is also known as a balloon payment. Understand how balloon payments work by reading our guide.

Is lease purchase same as leasing?

No, the two types of finance are different. With the lease purchase you have the option to own the car at the end of the agreement, while if you are on a leasing contract you will have to return the car.

Do you offer PCP?

We don’t do PCP agreements. With PCP deals you have the option at the end of the loan to give the car back to the dealership; this is something we cannot accommodate as an independent lender.

Are your loans regulated or unregulated?

We offer both types of agreements. By default any loans that are over £60,260 are unregulated.

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Application Process

Who can apply for car finance?

Our loans suit a wide range of clients, from entrepreneurs to professionals and high net worth individuals, sole traders and Limited Companies.

To apply you have to be a UK resident, or an overseas resident with UK footprint.

Do you finance people that don’t live in UK?

If you are not an UK resident but you have a business that operates in UK or own an UK property you have a UK footprint, therefore we can accept your finance application.

Is there a minimum amount you lend?

We lend anything from £25,000 to £10m+.

What documents do I need to apply for finance?

As with any other type of finance, you will need to provide:

  • Proof of current UK address – utility bill or bank statement
  • Proof of income – P60, tax return, 3 months of bank statement or 3 months of payslips with a supporting letter from your accountant
  • Passport and driving license

How quickly can I get a loan?

If you have all documents needed and the value of the loan is under £125,000 we can get your loan approved in 2 hours.

If you are approved and all documents are received and signed off before 2pm, we can make same-day payouts, so you can drive away in your dream car by afternoon.

If you have a more complex deal or borrowing over £150,000 we might need some extra time to get the deal approved, however we would look at a couple of days to get it all setup.

I have bad credit, can I still get car finance?

The short answer is: Depends of your circumstances.

We take a holistic approach to credit underwriting and assess each application on its own merits. There are often very valid reasons why someone has a less than perfect credit history, and we always take into account each individual’s circumstances.

What if I've been refused elsewhere?

Each finance application is reviewed by a human underwriter, which will assess each individual situation. This allows us to have a more flexible approach than other lenders, so we might be able to offer finance if you’ve been refused elsewhere.

I have a part exchange, can I trade this in?

Yes. You can use this as part of your deposit towards your new car.

How much deposit do I need?

The deposit required for your car finance depends very much of the amount you want to lend and the car you want to buy.

We usually start from a 10% deposit for new and pre-owned vehicles, while for a classic we will request at least 25% deposit. In very exceptional circumstances we would also consider 5% deposit, however we will have to discuss your financial circumstances to assess what is the best for you.

It’s good to remember that if you put a larger deposit down, your monthly payments and the balloon at the end of your agreement will be smaller.

What interest rate do you charge?

Again, interest rates depend of the amount you lend and the car you want to buy and its residual value.

Are there any additional fees?

We are transparent with all our fees:

  • Documentation fee at the beginning of your agreement of £295.
  • Option to Purchase fee of £300 at the end of your agreement. 

What is APR?

The Annual Percentage Rate, also called the interest rate represents how much you’ll have to pay on top of any amount you borrowed in a complete year, expressed as a percentage of the amount still left to be paid.

Will you run a credit check?

We won’t run any credit checks until you confirm that you want to go ahead and apply for finance with us. Once you agree to go ahead with the loan we quoted, request all necessary documents and run a credit check to verify your eligibility.

Note that we will run only one credit check, as we are a direct lender and not a broker.

How does your approval process work?

We have a team of underwriters that review each application in part to assess the eligibility. For average lend size and complexity part of the approval process is semi-automated.

How accurate is your finance calculator?

Our finance calculator gives you an estimative rate, based on what our average loan looks like.

Deposits and balloon on the calculator are predefined, matching the most popular way our customers structure their loans, however these can be tailored to suit your personal circumstances.

Each individual loan application is different, therefore we will treat it individually and adjust the finance agreement to suit your personal needs.

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Finance Settlement

What is a settlement figure?

When it comes to car finance agreements, a settlement figure is the amount you continue to own from the sum you borrowed, including interest and any fees. If you are looking to sell your car or replace it with another vehicle knowing your settlement figure can help you better understand your options.

Can I settle my agreement earlier?

Yes, you can settle your agreement earlier.

You can get in contact with us to request a settlement figure at any time. 

Why Finance with us?

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BESPOKE FINANCE

Finance personally designed to suit you and your vehicle.

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EXPERT KNOWLEDGE

We specialise in finance for high-end vehicles, supercars and classics.

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PERSONAL SERVICE

Face-to-face conversations and decisions made by humans.

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COMPETITIVE RATES

Fast results, with the ability to achieve low monthly repayments.

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COVID-19 Update

Our thoughts are with all of those affected by the virus and we have taken the decision to protect the JBR workforce by closing our London office.

If you are an existing customer and you are concerned about your ability to make repayments on your agreement please contact us via email at collections@jbrcapital.com.

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