Number plate finance options

Finance
FAQs

• How do I apply for finance?

  It’s really simple, just choose your number plate and at the checkout on our website select the PaybyFinance button where you will have to pay 10% deposit then you can apply on-line.  Hitachi will email immediately to let you know if your application has been successful. The Finance process can take around 5 days to be fully approved, so there will be no lengthy delays in the supply of your new car registration.

• How quickly will my application be processed?

  Online application decisions would normally be processed immediately, subject to computer downtime or credit bureau issues. If your application requires further checking, Hitachi Capital Consumer Finance will advise you of this at the end of your application and will contact you once their processing is complete.

• Once my application is approved, what happens next?

  When your application is approved, you can view the agreement on screen and electronically sign the document within the PayByFinance website, printing a copy of the document for yourself at the same time. Note that registrations will not be allocated to your order until your agreement is signed. We will treat your order as fully confirmed as soon as we receive notification from the finance company, however your deposit will allow us to start processing your order.

• Will you credit score me and if so, what does this mean?

  Credit scoring is the process used by financial services companies to evaluate the credit risk of new applicants. This technique will be applied to your application for online finance. Credit scoring works by awarding points for each answer given on the application form such as age, income and occupation,  together with information obtained from credit reference agencies. This information allows us to produce consistent decisions, ensuring all our applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion, disability or colour.

• If you decline my application, what is the reason?

  In addition to credit scoring, we also take into account confirmation of your identity, validation of certain application details, existing commitments and information held at the credit reference agencies. Though we are unable to provide you with a main reason for decline of your application, it is usually based on one, or a combination of the following:

  • Your credit score (note that every finance company will score you differently)
  • Adverse credit reference agency information
  • You are considered to be overcommitted
  • You are aged under 18
  • Your existing account performance with other lenders

  If you dispute a decision, you can write to the Underwriting Manager from Hitachi Capital for confirmation of the reason why you have been declined.

• What type of information do credit reference agencies hold about me?

  Some of the information is public information, for example electoral roll, County Court Judgements and bankruptcies. Other lenders may also file information about accounts you hold with them for instance this could include your payment history and outstanding balance on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the result of the request is not recorded.

• How do I obtain a copy of this information?

  You should send a cheque for £2.00 made payable to the relevant credit reference agency, together with details of all addresses at which you have lived over the last 6 years:

  Experian Limited, Customer Support Centre, PO Box 9000, Nottingham, NG80 7WF
  Equifax Ltd, Customer Service Centre, PO Box 10036, Leicester, LE3 4FS
  TransUnion International UK Limited, Consumer Services, PO Box 491, Leeds, LS3 1WZ

  TransUnion provide an online facility, again for £2, on their website.

  You can also find out more about credit decisions by visiting the Experian and TransUnion websites.

  The above listed agencies will provide details of information they hold about you. If you believe that the information is incorrect, you can ask the agency to correct it.

• Who is my finance actually with?

  Credit is provided by Hitachi Capital (UK) PLC trading as Hitachi Capital Consumer Finance, 2 Apex View, Leeds, LS11 9BH.

• If my application is not successful, can I re-apply?

  Yes. We acknowledge that your circumstances change and just because we have refused a previous application, it does not mean that we’ll automatically turn down a further request. We do suggest however, that you leave at least 6 months between applications.

• Who is eligible to apply for online finance?

  To apply for online finance, you must be over the age of 18, work at least 16 hours a week, or be retired with an income. You must also be a resident of the United Kingdom and have lived in the UK for the last 12 months or more. Unfortunately, we are unable to offer online finance to residents of Eire. Homemakers aren’t excluded from application under their own names; however we will require the employment details of your spouse in order to process your application.

• Can I request delivery to an address other than my home?

  In order to safeguard against fraudulent applications, we regret that we’re only able to deliver goods to the home address of the applicant.