Do you have a question? You may find your answer here

Find out the answers to our frequently asked questions

week 23 FAQ collage

Do You Have A Question? You May Find Your Answer Here

How much deposit do I need?

Some agreements start from as a little as zero. However, for the majority of agreements we would recommend a deposit from 10% of the value of the asset.

Which finance package would suit me best?

If you wish to own the vehicle/asset we would recommend either a Hire Purchase (HP) or Lease Purchase (LP).

If you wanted to have use of the asset but not own at the end of the agreement then Contract Hire, Operating Lease or Finance Lease may be the option for you.

You can find out more about our finance options in our Finance Solutions Explained page.

Alternatively speak to one our experts on 01603 733500 or email info@chatsbrook.co.uk for further clarification.

What can you finance?

Vehicles e.g, Motorbikes, LCV’s, Classic cars

Agricultural Finance e.g Tractors, Solar Panels, trailers

Aviation Finance e.g Turbo Props, Gliders, Simulators

Commercial Transport Finance e.g Tractor Unit, Curtain Siders, Tankers

Business Loans

Commercial Loans

Construction Industry Finance e.g Diggers, Wheeled Loaders, Articulated haulers

Engineering and manufacturing Finance e.g Moulding Tools, assembly Lines, Robotic welders

Horse Transportation Finance e.g, Horse boxes, Ground Care Equipment

Personal Loans

Marine Finance e.g, Sailing Yachts, Jet Skies, Fishing Boats

Renewable Energy Finance e.g, Wind Turbines, Biomass Boilers, LED Lighting

Software and Technology Finance e.g, Laptops, CAD Design Software, Healthcare equipment

Caravans/ Motorhomes

 

How quickly can I obtain finance?

You can be accepted for Finance as quickly as the same day with Chatsbrook. Depending on the Supplier, Lender and Asset you could complete the same day. Talk to our experts to see if this could be attainable to you.

How do I apply?

At Chatsbrook, we make applications easy. You can fill in our Quick Quote Form online. Applications can also be made over the telephone: 01603 733500/ email: info@chatsbrook.co.uk or even face to face.

Will I own the asset at the end?

This depends on the type of finance agreement you opt for. HP and Lease Purchase Plans offer you the opportunity to own your vehicle / asset after you have finished with repayments.

How long do finance agreements last for?

Typically, agreements last up to 60 months, but there is flexibility with the contract terms.

Do you supply the vehicle?

As an independent business we have built strong relationships with various dealerships across the UK. If required Chatsbrook are able to supply all manufacturer brands for both cars and light commercial vehicles.

Do I have to earn a certain amount to be approved?

Yes, both an applicant’s income and expenditure will be assessed for affordability. This ensures that you meet the responsible lending criteria during the underwriting stage which ultimately protects your welfare.

Do I pay Chatsbrook separately?

Chatsbrook operates with a panel of lenders from whom we may be paid a commission. 

How much does my credit rating affect whether or not I am accepted?

A Credit Rating is only one-way Credit is assessed. Our extensive panel of Lenders means that Chatsbrook has the flexibility to find the most appropriate Lender for each of our clients.

Can I pay it off in advance?

This is dependent on whether or not our client has a regulated or unregulated agreement.

 A client with a regulated agreement can settle the outstanding payments at any point without incurring the full interest charges. If you have a regulated agreement, you are protected under the consumer credit act Consumer Credit Act (CCA). After making the outstanding payments you will be entitled to a rebate of interest charges for the period of time that would have been left on the agreement.

If you have an unregulated agreement there is no provision for early settlement. If you want to get out of the agreement, you will have to pay all the outstanding payments. However,  some lenders will give a very small % reduction.

Can I transfer my agreement to someone else?

Personal agreements cannot transferred. Agreements would need to be settled by the original party and a new agreement can created for the new applicant.

Corporate agreements can potentially be novated across to a new business.

What paperwork do I need?

We ask all clients to complete an initial Finance Proposal suitable for the applicant status (Personal or Business Application).

Private clients shall need to produce photographic ID in the form of a Drivers Licence or copy of a Passport. Whereas Business Clients will have to provide a copy of the most recent business accounts or bank statements for the business over the last three months.

What are my termination rights?

Regulated agreements can be cancelled within 14 days.

Unregulated agreements have no cancellation rights.


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