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Sport 3.0 SDV6 HSE Dynamic

64 Plate Auto with 48,100 miles

Panoramic roof

21″ wheels

On Finance

Only £437.54 a month*

*Based on 10,000 miles per annum.

Call 01603 703180 or e-mail [email protected] for more info.

The BBC recently reported that some car buyers are being overcharged by more than £1,000 when they take out a loan to buy a car, based on a report by the UK’s financial watchdog.

The Financial Conduct Authority has warned that the industry practice of allowing dealers to set their own interest rates was costing consumers £300m a year, reporting that some dealers will overcharge to boost their commission.

The regulator launched its investigation into the car finance market in April 2017 after there was a rapid surge in consumer credit led by car dealership finance. At the time, it said it was concerned about a lack of transparency and potential conflicts of interest.

In its final findings on motor finance, the FCA concluded that the widespread use of commission models, which allow brokers discretion to set the customer’s interest rate and thus earn higher commission, can lead to conflicts of interest that are not controlled adequately by lenders. It said the practice can lead to customers paying significantly more for their motor finance.

The Finance and Leasing Association, a UK trade body for asset finance, consumer finance and motor finance, said that the FCA’s survey work was “based largely on out-of-date information, and therefore does not reflect the very considerable progress the market has already made in moving away from such structures”.

Either way, it’s a complex situation that can be daunting for many people as they make what is often their second biggest purchase after a house. With so many different payment options and financial jargon, it’s very easy to end up with a deal lasting 3 to 4 years that isn’t the right one for you.

That’s why we would always suggest speaking to an independent asset finance company first before you commit. Here at Credo we work with multiple lenders, including many of the major national players, which enables us to look at a range of solutions, and remove the jargon, to find the option that you feel is right for you.

Everyday we are trusted by our customers to deliver for them, and in every case we ensure we are doing our best and give the correct information.  However, there are cases where our knowledge and experience mean we can go far beyond the customer’s expectations, and this week our Account Manager Neil Dunlop delivered one of these in style!

One of our regular customers mentioned he was keen to sell his Range Rover Sport SVR and had been given a part-exchange price. However, our team knew another customer keen to buy something similar.

Neil put the two in touch, arranged a fantastic finance deal to fund the purchase, and even arranged for the vehicle to be delivered to our office for collection. One happy customer with a new car, and another who got more than he would on a part-exchange trade in!

We’ve powered up the start to 2019 for one of our business customers with a funding deal for 370 solar panels to be installed on their premises.

On-site power generation can not only drive long-term savings, it offers security against future risks and can improve power quality and supply reliability.

The Renewable Energy sector offers a real opportunity for many Norfolk customers and is likely to grow in relevance for many more in the mid-term. Therefore Credo has invested in building its knowledge of the sector and it’s opportunities, and expanding the roster of finance partners our customers can access.

With a quick turnaround required, Credo’s team approved the deal within 24 hours and arranged payout the same day documentation was signed.

Since this deal was secured the customer plans to acquire electric chargers for cars on the premises in a deal to be funded through Credo in the coming weeks.

We’re often asked about why customers should use a finance broker when buying a car, and how can they trust that they’re getting a good deal? We saw this article which summed up nicely what people should look for – and we’re really pleased that we have strong credentials in all the sections!

Click here to see full article

We have many years of knowledge and expertise in our field, and as you can see from our Meet the Team page, we hold a variety of different specialisms in the finance sector. Our reputation speaks for itself, with over half of our sales coming back through repeat business.
One of our main aims is to create long-lasting relationships where we work closely with our customers to provide a one-stop solution to handle the funding of the assets of their business.

If you are considering a major purchase, let us explain to you the wide range of options available – there will be more than you think! We’ll guide you through the process to find the right one for your circumstances, and the best part is we do all the work! One quick call could save you time and money!