Marsh Car Finance Premier
Good:
Only available to homeowners so you can get a better rate
Bad:
Check the range of cars they have before applying and visiting them
Verdict:
They can help you rebuild your finances at a reasonable interest rate - make sure you know every detail of the loan before you apply to ensure you can afford it
Marsh Car Finance offer customers with poor credit ratings the opportunity to take finance out against vehicles. Offering between £2,000-£15,000 over a 1-7 year term. The Premier package they offer is open to home owners that are full time employed. If you have struggled with finance in the past, they may be able to help you rebuild your credit.
The website explains you can only apply for the Premier loan via their online application form. However, at the moment they are building their site so you will have to call a sales agent. They will run through the application with you over the phone and carry out a credit check on you. An agent may ask you to fax/email some documents through to them to further prove your identity and your income. After they have received this, they will fully assess your application and make a final decision. Once your finance is agreed, they'll help you find a new or used car from a franchised main dealer in your area. When you have found a car and you are at the dealership, they will transfer the funds directly to the dealership.
If you have a poor credit history and are in need of a car this company may be able to help you. However it has been noted that they have poor customer service procedures and their range of cars on offer at their designated showrooms are minimal. You may want to check with them where their nearest dealer is in regards to where you live. We have read reviews where people have travelled a long way only to be disappointed with the cars that are available. The APR on their premier loan is slightly lower because you need to be a homeowner to apply. If you do not not fall into this criteria, this loan is not for you. Please make sure that you can make the repayments on time as it seems that they are not very lenient when it comes to late payments.
Loan Calculator (Representative 19.9%APR)
Loan Amount £
Loan Term months
Monthly Repayment
Total Repayment
Loading, please wait...
I found the application process very simply and received the funds promply. Would recommend to anyone who is currently in an IVA as Marsh approved the finance with my IVA supervisors permission and the process took less than a week.
Initially a bit of mis communication as they tried to sell me their assist package but was well aware this option was better as I was a homeowner and could there fore get a better APR. This aside, I was impressed with how quickly it was sorted as I was expecting it to be at least a few weeks to sort. However, it only took a week from when I applied to driving away in my new Astra!! Interest rates were quite high but still reasonable. Impressed and would recommend
Loans £2,000 - £15,000 up to 7 years
- You don't need to have a perfect credit history
- You must have been a UK resident for 3 years or longer
- You must have a bank account with direct debit facilities
- You must be 22 years of age or older
- You need: Full UK driving licence, proof of address, proof of signature, wage slips, utility bill
- You must be full-time employed earning at least £400 per month
- Must be a Homeowner
- Payment received late - £20.00
