Frequently asked questions

At Compare the Finance, we understand that before entering into a lease agreement, you may have a few questions.

So we’ve listed a selection of the top questions asked by our customers.

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  • Customers needs are our needs
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How do I apply for finance?

You can either apply online using our fast application or full application. Alternatively, you can call our sales team on 0330 0585027 for us to explain the full process to you from start to finish.

What is the main criteria to be eligible for car finance?

We use a number of lenders that will approve you for finance dependant on your credit score.

The majority of lenders will need you to have the following….

  • Traceability on the electoral register
  • Minimum of 3 years address history
  • Minimum of 3 years employment history (if employed)
  • Proof of income through employment or benefits
  • Full UK driving licence
  • Utility bill / bank statement addressed to you at your current address within 90 days
Do I need to pay a deposit?

We aim to provide you with the cheapest and most affordable deal that suits your preference and your budget.

The amount of deposit required will vary dependant on the lender and the type of finance you have been approved for. Deposits can also be used to reduce your monthly repayments or increase your credit limit if this has been restricted by the lender for affordability purposes

Can i use a part exchange as a deposit?

You can use a part exchange as a deposit. During the process of completing your finance application, your designated sales person will take the details of your current vehicle and offer you an up to date valuation.

The valuation given will be either offset against the value of the vehicle you’re purchasing or added to your credit limit to increase your lend.

Can I finance 2 cars?

Most lenders will only approve you for one car. However, if your income, credit file and affordability proves that you are able to afford a second car then there is no reason why we cannot provide you with one.

Is Road Tax included in a car lease?

The road tax will last for the duration of the lease period you have chosen, making you’re driving experience even more straightforward and hassle-free. Because a lease car from Compare The Lease is delivered to your door with road tax included, there’s no need for you to worry about taxing the vehicle for the whole period of your lease contract.

Is insurance included?

Unfortunately insurance is not included. This is as every customer is different; ie age, area etc, therefore it is impossible to cost insurance in with the lease price. All lease cars must be insured comprehensively.

What lengths of contract are available?

The majority of finance quotes for both HP and PCP range from 36 – 60 months. The restrictions to this are based on your credit file, budget and the age/mileage of the vehicle you’re purchasing.

Sub prime lenders mainly quote over 36-48 months to minimise risk.

Is servicing and warranty included?

A maintenance package is only available on new and pre reg vehciles. We do not offer a maintenance package on used vehicles.

All our vehicles come with a standard 6 month engine warranty and a 3 month gearbox warranty. All vehicles go through a full health check and given a full MOT (if needed) prior to delivery.

Can I pay the finance off early?

Any finance agreement you have can be settled early.

To do this, you will need to request a settlement figure from the finance company and arrange the payment to them via debit card or BACS.

How do I choose my vehicle?

Once a finance application is made, your designated sales person will forward the application to our panel of lenders to get you approved.

Once a decision is made, you will be informed as to whether you have been approved or declined for finance. In the event of an approval, we will offer you vehicles that suit your preference and monthly budget from our extensive stocklist of vehicles aged up to 5 years old.

If we are unsuccessful in locating a suitable vehicle for you, our buying team will be able to source the vehicle you require to ensure you are satisfied with your purchase.

What if I have negative equity on my current vehicle?

If you have finance outstanding on the vehicle you wish to part exchange, your designated salesperson will value the vehicle and match it against the settlement figure you owe to your current finance company.

The decision on whether we can settle your existing finance is dependant on the difference between your settlement figure and the current market value of your vehicle.

Can I finance a car if I have bad credit?

the fact that we have a large panel of lenders means that we can approve you for finance regardless of your credit rating.

Our sales team have had in depth training on  dealing with customers with lower credit scores and will be able to explain exactly how the process works and the type of finance you will eligible for.

Who do I make my repayments to?

Our panel of lenders are all external companies to ourselves.

The finance company who approves you will be responsible for setting up your direct debit by signing a direct debit mandate for them to deduct the agreed monthly repayment from your account.

What happens if my car is written off?

In the event of a write off, then the process is different. The finance house will treat this as if you have bought the car, and therefore end the agreement. However, you still have finance to pay. So the finance house will decide on a settlement figure that you will have to pay. The insurance company will then pay out how much the car is worth at the time of the loss. Hopefully, that will be enough to cover the settlement figure. If it does not, you will have to find that money yourself.

Once you insurance company pay you out for the vehicle or settle your finance, just call us back and we will be more than happy to offer you another car.

Can I put a personal number plate on the car?

When you finance a vehicle, you be given the V5 registration document at the point of delivery.

Once the new V5 is delivered to you in your name, you can arrange to add a private registration number by contacting the DVLA



Apply Online

Make an application on our website
and your personal account manager
will give you a call.

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Best Deal for you

They will explain the process with you and ensure you have selected the correct finance and car package ensuring you have the best deal available.

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Your account manager will send you your paperwork which you will need to sign and return.

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Your on the road

Your new car will be delivered to your door and your off, on the road. Happy motoring!

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Get in touch with us

Our friendly sales team are here to help and available 7 days a week and can guide you through the process to get you driving on the road in a new car within just 24 hours!

218 Bury New Road, Manchester M8 8DY

0330 0585027 Head Office

7 day Sales Hotline

  • Monday 08:00 – 20:00

  • Tuesday 08:00 – 20:00

  • Wednesday 08:00 – 20:00

  • Thursday 08:00 – 20:00

  • Friday 08:00 – 20:00

  • Saturday 10:00 – 15:00
  • Sunday Closed

Looking for a car?

Whatever car you need, for other personal or business use we will get you the best deal!
We offer several contract lease options, and our friendly staff are here to help you get on the road.