carloans 365

carloans 365: car finance for any credit history

carloans 365 is a car finance broker operating in the UK under the company name HT Finance Ltd. Its business focuses on facilitating loans for vehicle purchases for customers with all types of credit profiles, including those with a poor credit history. The company presents itself as a bad credit specialist and states that it works with a panel of partner lenders to secure approval.

The company does not act as a lender, but as an intermediary: it manages the application and sends it to the lenders it works with. According to its own description, it does not charge fees for its services and receives a commission from lenders for introducing customers, which may be a fixed fee or a variable percentage depending on the partner. The company states that this commission does not affect the interest rate offered to the customer.

Available finance products

carloans 365 mainly offers Hire Purchase (HP) agreements, a loan attached to the vehicle in which the customer acquires full ownership at the end of the contracted payments, usually with a small option to purchase fee. The most common term for these contracts is between 48 and 60 months. In addition, the company notes that it has other products available such as conditional sale, lease purchase and personal contract purchase (PCP). An assigned account manager reviews all available options with the customer.

Finance is subject to approval and lender conditions. The company publishes a representative rate of 21.6% APR and rates from 11.9% APR, although the exact rate depends on the individual circumstances of the applicant.

Application and assessment process

The process consists of three steps: get an initial approval, choose the vehicle and collect it. The company highlights that the initial application does not leave a hard mark on the credit file; lenders perform a soft search to pre-approve the application, visible only to the customer. A hard search is only carried out if the customer decides to proceed with the offer and enter into the contract. According to the company, the initial decision can be obtained in 60 seconds.

Once the application is approved, the customer can look for a car at any dealership the company considers trusted. carloans 365 carries out checks on the dealership to ensure it meets its standards. It is also possible to part-exchange the current vehicle as part of the payment: the company negotiates the part-exchange value with the dealership where the new car is purchased.

Customer profiles and situations covered

The company serves customers with bad credit, county court judgments (CCJs), self-employed workers, young drivers and key workers, among others. It states that it works with lenders that can offer finance for all credit histories and that some of these loans can help improve creditworthiness for future applications. It also offers no deposit options, although in some cases the lender may require a deposit; if this happens, the account manager informs the customer and explains the reasons, and other vehicle alternatives can be explored.

Coverage and presence

carloans 365 operates in the UK and its website includes specific pages for cities such as Birmingham, Bristol and Manchester, as well as a general locations page. The company also offers finance for a wide list of car brands, including Audi, BMW, Mercedes, Ford, Hyundai, Volkswagen, Kia, Land Rover, Lexus, MINI, Nissan, Peugeot, Renault, Tesla, Toyota, Vauxhall and VW.

Tools and resources for applicants

The website provides users with a finance calculator, a product comparison tool and an explanatory section on how car finance works. It also includes guides on improving credit and a car buying checklist, as well as news articles on the UK vehicle finance market.

Corporate and regulatory information

carloans 365 is a trading name of HT Finance Ltd, with company number 11481948 and registered office at Floor 2, Jackson House, Sibson Street, Sale, M33 7RR. HT Finance Ltd is authorised and regulated by the Financial Conduct Authority (FCA) under reference number 821383. The company describes itself as a credit broker, not a lender.

Location and contact

Floor 2, Jackson House, Sibson Street, Sale, M33 7RR · Phone: 0161 410 3365 · Email: customercare@carloans365.com