Question 1

Does applying affect my credit score?

Accepted Answer

No. Our initial eligibility check is a soft search, which means it leaves no footprint on your credit file and has no impact on your credit score. You'll see indicative finance terms before any formal application is made, and only proceed to a hard search if you decide to go ahead with a specific lender.

Question 2

What if I'm self-employed?

Accepted Answer

Several of our lenders specialise in self-employed applicants. We typically ask for the last three months of business bank statements or recent accounts to evidence affordability, rather than relying on payslips. Sole traders, limited company directors and contractors are all routinely funded through our lender panel.

Question 3

What deposit do I need?

Accepted Answer

There is no fixed minimum deposit, but contributing around 10% of the vehicle's value usually opens up the widest choice of lenders and the most competitive monthly payments. We can also look at zero-deposit finance on selected vehicles, subject to lender approval and affordability checks.

Question 4

Can I finance a van?

Accepted Answer

Yes. We arrange finance on light commercial vehicles for both personal and business use through lenders that specialise in vans. Sole traders, limited companies, partnerships and PAYE buyers are all welcome to apply, and most agreements are structured as Hire Purchase so the van is yours outright at the end of the term.

Question 5

What happens if I miss a payment?

Accepted Answer

Contact your lender as early as possible — most are willing to agree a short-term payment plan if you talk to them before a payment is missed. Missed payments can incur charges and may be reported to credit reference agencies, which affects your credit file, so it's important not to ignore the issue.

Question 6

What is a guaranteed future value?

Accepted Answer

A guaranteed future value (GFV) is the minimum value the lender guarantees your car will be worth at the end of a PCP agreement. It becomes the optional final payment if you want to keep the car, or you can simply hand the car back to the lender at no extra cost provided you've stayed within the agreed mileage and condition standards.

Question 7

Where is H&E Motor Finance based?

Accepted Answer

H&E Motor Finance is based at Unit F, Belcon Industrial Estate, Bingley Road, Hoddesdon, Hertfordshire, EN11 0NX. We are the finance arm of Herts and Essex Motor Company and serve customers across Hertfordshire, Essex and the wider UK.

Question 8

Is H&E Motor Finance FCA authorised?

Accepted Answer

Yes. Herts and Essex Motor Company, trading as H&E Motor Finance, is authorised and regulated by the Financial Conduct Authority under FRN 709991. We act as a credit broker, not a lender, and we do not charge customers any broker fees — we may receive commission from the lender we introduce you to.

Question 9

What is the representative APR?

Accepted Answer

Our representative APR is 10.9% (fixed). For example, borrowing £10,000 over 48 months at 10.9% APR works out at a monthly payment of £257, a total charge for credit of £2,336 and a total amount payable of £12,336. Your actual rate will depend on the lender's assessment of your circumstances.

Question 10

Can I get car finance with bad credit?

Accepted Answer

Possibly. We work with a panel of lenders that includes specialists in adverse, thin-file and previously declined credit. A soft-search eligibility check is the quickest way to see what terms — if any — are available to you without affecting your credit score. Approval and APR depend on your individual circumstances.

Question 11

Do you offer van finance for self-employed people?

Accepted Answer

Yes. We regularly arrange van finance for self-employed tradespeople, sole traders and limited company directors. Lenders typically use recent bank statements, accounts or SA302s to evidence affordability instead of payslips, and decisions are usually returned within one working day.

Question 12

How quickly can I get a decision?

Accepted Answer

Most applicants get an indicative eligibility decision within a few minutes of completing the soft-search check. Full lender decisions on a specific vehicle are usually returned the same working day, and a paid-out, ready-to-drive agreement can often be in place within 24 to 48 hours.

Finance Explained

PCP — Personal Contract Purchase

HP — Hire Purchase

What it could cost.

Common questions.

Ready to check what you could borrow?