Frequently Asked Questions

How much interest do I pay? (What is the APR rate?)
The interest amount that you will pay will be determined by your credit rating. A number of factors are considered when lenders attempt to give individuals a credit score, such as:
Deposit, Loan Term, Previous Credit Activity, Traceability, Employment History, Income and Expenditure. We have a panel of responsible lenders who can provide varying interest rates.
How much can I borrow?
Our panel of lenders can provide loans from £2,000 – £25,000 Credit limits are usually determined by consideration of overall credit score and income and expenditure details.
Do you take part exchange vehicles?
No. This would be something you would have to discuss with the motor dealer that supplies the vehicle.
I have negative equity in my current car which is on finance – can I still do a deal?
Again, this would be something you would have to discuss with the motor dealer that supplies the vehicle.
What types of driving licence do you accept?
Some lenders will consider applicants without a drivers license – whilst others will need at least a provisional license to be provided. Full Uk licences are accepted by all lenders and EU and other International licences are accepted by some.
What proofs do you require?
In all instances proof of ID is required – this can be A Full Uk Drivers License, Uk Passport or Debit Card.

Proof of address may also be required in some instances – Acceptable proofs are Bank Statements, Utility Bills, Mortgage Statements, Credit Card Statements. Proofs must show your current address and be dated within the last 90 days. In certain circumstances other proofs are acceptable – please ask for details.

Proof of affordabiltiy may also be required in some instances: Acceptable proofs would be employer provided wage slips or bank statements. (Bank statements if self employed)
Do I get to see the car?
We do not sell cars, we are a credit broker. Therefore our job is to liaise with our panel of responsible lenders and arrange a line of credit. You can then take your acceptance to one of our preferred motor dealers and pick a vehicle.
How long does the whole process take from applying for a loan to getting my new vehicle?
The process can be as quick as 24 hours from application to acceptance – so what are you waiting for!
Are you a finance lender?
payasUgocarfinance are acting as a licensed credit broker and not a lender. We will give you one-to-one support, from finding finance all the way to paying the motor dealer. The best part of all this, we don't charge you anything for the service. Instead we charge the motor dealer or finance provider for the use of our service.
Do you offer black box car finance?
Yes, we may be able to depending on your circumstances.