FAQ

It depends on which type of finance you've chosen: With Hire Purchase (HP): Once you've made all your monthly payments, the car is yours. Job done! With Personal Contract Purchase (PCP): At the end of the agreement, you'll have that final optional payment (sometimes called a balloon payment) to make if you want to own the car. If you don't want to keep it, you can simply hand the keys back (as long as you've stuck to your mileage allowance and the car's in good condition), or you can use any e...

Great question! With Personal Contract Purchase (PCP), your monthly payments are typically lower because you're only paying off the depreciation of the car, not the full value. At the end of the agreement, you'll have three options: make a final balloon payment to own the car, hand it back with nothing more to pay, or use any equity towards your next car. There are mileage limits to be aware of, though. With Hire Purchase (HP), you're paying off the full value of the car over the term, so your ...

Life can throw curveballs, and we get that. If you miss a payment, the lender may charge a late payment fee, and it could affect your credit score. If payments are consistently missed, it could ultimately lead to the vehicle being repossessed – which nobody wants. The key thing is communication. If you're struggling or think you might miss a payment, get in touch with the lender as soon as possible. They can often work out a solution with you, whether that's a temporary payment holiday, a revis...

The application process is pretty straightforward. Generally, you'll need: Proof of identity – such as a UK driving licence or passport Proof of address – like a recent utility bill or bank statement Proof of income – typically your last three months' payslips or bank statements (if you're self-employed, we'll need a bit more info but we work with self-employed customers all the time!) Bank details – for setting up your monthly payments Don't worry if you're not sure what you've got – j...

In short, yes – but let's break it down properly. Because you're borrowing the full value of the car rather than just a portion of it, your monthly payments will be higher, and you'll pay more in interest over the life of the agreement.  However, for many people, the benefits of not needing to find a large lump sum upfront outweigh the extra cost. It all depends on your personal circumstances and priorities. We'll always show you a comparison so you can see the difference and make an informed d...

Yes, it's definitely possible, but not always easy! At LMC, we work with a panel of specialist lenders who understand that life happens and credit scores aren't always perfect. While having a good credit score can help you secure better interest rates, we've helped plenty of customers with less-than-perfect credit get behind the wheel of their ideal car with zero deposit finance.  Every application is assessed individually, and we'll always do our best to find a solution that works for you. Giv...