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Who Are Close Brothers Motor Finance?

Close Brothers Motor Finance is a UK car finance company that has been around for more than 30 years. It is part of Close Brothers Limited. The company is approved by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). Over the years, it has become one of the most trusted companies in the UK car finance market.

They help people get money to buy many types of cars. This includes:

  • Cars, both new and used
  • Motorcycles
  • Light commercial vehicles (LCVs)
  • Leisure vehicles like caravans and motorhomes

What sets Close Brothers apart is the way they work together as a team with their partners. They have over 5,300 approved dealerships and finance brokers around the UK. These groups help more than 100,000 people buy vehicles each year. Close Brothers does not give out loans to people directly. Instead, they use their trusted partners to offer finance plans that fit what you need.

Close Brothers Group plc is a big UK merchant banking group. They give strong financial support to their customers. Their motor finance services are built on trusted relationships and clear checks on what people can afford. There are simple ways to pay back money. Each person is checked on their own. The group looks at your credit history, what you can pay each month, and the type of vehicle you want, to make sure your loan fits you and can last.

Close Brothers Motor Finance is also known for the things it does in the market. People see this company as one that offers good service. A lot of people use their services to get cars and other vehicles. The business has a name for giving customers what they want. It wants to help people with their needs and keep up good support at all times. Many who deal with this company feel that they get a fair deal. That is why most people know about them in the motor finance field.

  • The approval process is fast at the dealership.
  • You get clear and fixed interest rates.
  • The dealership offers a range of motor finance products. These include Hire Purchase, Conditional Sale, and PCP.
  • The dealership is committed to treating customers fairly.

Compare Low APR Car Loans

Low APR (Annual Percentage Rate) car loans are financing options that offer borrowers a lower interest rate compared to traditional car finance deals.

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What Auto Loan Options Do They Offer?

Hire Purchase (HP)

  • The borrower can pay back the loan amount over a set loan term, usually between 24 and 60 months.
  • The interest rate stays the same, so the monthly payment does not change.
  • When the last monthly payment is made, the borrower gets full ownership.

Personal Contract Purchase (PCP)

  • You will have lower monthly payment each month during the term.
  • The last balloon payment lets you choose. You can return the vehicle, pay to keep it, or swap it for another one.
  • This is good for people who want to upgrade their vehicle often.

Conditional Sale

  • This plan is like HP. You make set payments and own the vehicle after the term ends.
  • People often use this for cars. The time is a little different from HP.

These choices are good for different people and what they need. You can buy a car and know what you have to pay back, when to pay, and how much. The costs are clear, and the APR terms are simple to understand.

Example of Auto Loan Offers (Illustrative Purposes Only)

Finance Product Loan Term Deposit Representative APR Monthly Payment Loan Balance at End
HP 48 months £1,000 approx. 11.9% approx. £248 £0 (you own the car)
PCP 48 months £1,000 rate varies approx. £198 approx. £3,500

These numbers are just examples. The real interest rate, APR, and monthly payment can change for you. They will depend on your credit score, loan amount, and if you can afford it.

How the Application and Credit Decision Work

  1. Pick a car you like by going to an authorised dealer or broker.
  2. Show proof of your income and where you live. You also need to give your free credit report or your recent annual credit report.
  3. A credit check will be done using one of the big credit bureaus like Experian, Equifax or TransUnion.
  4. You will quickly get a funding decision through their app. You can then pick the finance product that fits you.
  5. Look at the monthly payment amount, the loan term, the APR, and the possible loan balance or cost of borrowing.
  6. Sign the agreement, pay the deposit if needed, and take your car home. You can settle the loan early if you want to.

Your private information is kept safe because the lender has strong rules and good privacy practices. These help keep all your details protected.

How the Application and Credit Decision Work

Can I Qualify with Less-Than-Ideal Credit?

Close Brothers looks at your whole financial picture, not just your credit score. They may also think about people with:

  • The people who have thin or limited credit files can still get a credit card.
  • If you already have a personal loan, credit card balance, or a line of credit, you can still apply for a credit card.
  • A history of missed payments does not always stop you from getting a credit card, as long as you meet the affordability rules.

They might give you special financing rates. This can depend on your borrower profile and the loan term of your auto loan.

Soft Search Car Loans

Soft search car loans, also known as no impact credit search car finance or pre-approval soft search car loans, allow you to check your eligibility for vehicle finance without affecting your credit score.

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Why Use a Car Loan Calculator?

A car loan calculator is a great tool to use if you want to buy a car with a loan. No matter if you pick hire purchase, personal contract purchase, or another type of auto loan, this calculator helps you see what you can afford. It lets you get a clear view of your money situation before you agree to anything. A loan calculator can make it much easier for you to plan ahead and feel good about your choice.

What Does a Car Loan Calculator Show?

When you use the calculator the right way, it will help you see things more clearly.

  • Loan amount and loan term impact – The amount you borrow and the time to pay back (like 36 or 60 months) can change your monthly payment. The calculator will show if your monthly payment will go up or down, depending on the loan deal you pick.
  • Estimated annual percentage rate (APR) – The exact interest rate depends on your credit score. The calculator can use an average APR so you can see an example. It helps you look at different lenders or deals side by side.
  • Total loan balance and cost of borrowing – You can check how much you will pay back for the full loan, including interest rate and any extra fees. This way, you do not get any surprise costs later.
  • Deposit impact – A bigger deposit means you need to borrow less. This can lower your monthly payment and the total interest you pay.
  • Fixed vs variable rates – Some calculators help you see how variable rates can change your payment if interest rates go up or down during your loan term. Most HP and PCP loans use a fixed interest rate.
  • Balloon payment scenarios – For PCP deals, the calculator may show the last payment you might need to keep the car. This gives you a full idea of the costs to own the car.

Why It’s a Good Idea to Use One

Using a car loan calculator helps you:

  • Plan ahead – You will see what size loan you can pay for based on the money you have and your regular bills.
  • Avoid over-borrowing – You will not feel the need to get a loan bigger than you can pay back each month.
  • Compare offers – It helps you see if one lender is giving you a better offer than another, especially if the APR, loan term, or deposit requirements are different.
  • Support credit decisions – Knowing what you can really afford can lower the chance of missing payments. This helps your credit report and builds your credit decisions for future loans.

Remember, the results shown are just for illustrative purposes. They are not guaranteed offers. Your real rate and payment can change. This depends on your credit history, the lender’s rules, and any fees that are in the finance agreement.

What Makes Close Brothers Motor Finance Competitive?

  • The company has been in the UK market for many years and has built strong partnerships.
  • They give people both HP and PCP choices, with flexible terms you can pick from.
  • Every year, they help more than 100,000 customers get funding.
  • When making decisions, they look at what you can afford and your credit history in a fair way.
  • The company is set up to show clear APRs, fixed interest rates, and gives extra and clear additional information.
  • They use modern and safe digital systems for the application process and for managing your money.

FAQs About Close Brothers Motor Finance

No—they focus on car finance like HP, PCP, and Conditional Sale. They do not offer normal personal loans or credit cards.

You can ask to pay off your loan early. You will get a quote that shows the loan balance still to be paid. If there are any fees, you will see these before you decide what to do.

They look at data from Experian, Equifax, or TransUnion. They do this to see the risk and to check how much a person can afford before they offer any finance product.

Yes—most agreements have a fixed interest rate. This way, you make the same payment each month. Your payments will not change if the prime rate goes up or down.

You can get your annual credit report for free from each credit bureau. Use it to look for any accounts you did not open or any signs of fraud before you apply. This helps keep your credit report safe.

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Page last updated on: 06/08/2025

Page reviewed by: Andrea Troy

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