Frequently Asked Questions

Need help understanding anything related to Motor Finance? Check out our Freqeuntly asked question resource below for answers.

Motor Finance FAQ’s

Please find all your motor finance questions answered. If there is anything else you need, then please don’t hesitate to contact us.

Rates from 10.5% APR . Representative 19.6% APR

Jargon Buster

Who are the FCA?

The Financial Conduct Authority (FCA) is a financial regulatory body in the UK that operates independently of the UK government. 
The FCA regulates financial firms, like Marsh. Focusing on the regulation of conduct by both retail and wholesale financial services firms, they ensure consumers receive the service they deserve, and the UK’s financial market remains honest.

What is APR?

APR stands for Annual Percentage Rate, this is the amount of interest a bank or lender charges on the money it lends. Your repayments are the same every month because of how the interest is calculated. At the start of the loan term, your repayments will include more interest but less of the loan balance. Towards the end of the loan term, your repayments will include less interest but more of the loan balance.
If you see ‘representative’ before the APR, this means that the credit or loan interest rates quoted through advertising (like on comparison websites) takes into account all charges associated with a product. Not just the interest rates. It can be easy to assume that the lender with the lowest representative APR you find advertised will give you the best rate. However, when you apply, it’s likely you’ll receive a personal APR based on your circumstances. This could be the same, higher, or lower than the representative APR that you originally saw advertised—so it’s good to check what yours would be.

What is a Broker?

A broker is an individual or a company who introduces the borrower to the lender and will charge a commission or fee for their services. They’re really helpful when trying to purchase a new car.
We have a number of trusted brokers that we work with to help our customers.

What’s PCP?

What’s HP?

What does Underwriting mean?

Underwriting is the process of accessing the risk of lending to someone based on their credit history and personal circumstances, to ensure that the cost of the loan they’re applying for is proportionate to the risks presented by the person concerned. They then make a decision as to whether or not they will lend to the customer based on this information.


Can I change my vehicle?

You can change your vehicle at any time if your existing agreement has been settled.

Can I settle my agreement early?

Yes, you can settle your agreement at any time either by paying off the existing balance or by part exchange from your dealer who will work with us to organize your settlement.

Can I change my monthly costs?

You can partially settle by paying a lump sum which would lower your monthly repayments or shorten the term but you cannot renegotiate your agreement.

Am I able to transfer to another lender?

You can’t transfer to another lender during your agreement. You would have to settle your agreement with Marsh before moving to a different lender.


How do I make an application?

To discuss making an application, email us at or call us on 01706 648882, we look forward to hearing from you and helping you to organize sorting your next vehicle!

How long is the process?

We have automated Underwriting which will review your eligibility in a couple of minutes. Once that is completed, pay outs take around 2 hours to reach your dealer following a validation call with you.

How old do I need to be?

18 and over.

What forms of ID can I use?

You’ll need your driving license, pay slip and in some cases 3 months of bank statements.

Do I need a full driving license?

Yes, we do not offer loans to people who hold a provisional license.

Car Finance

How does Car Finance work?

What would my finance journey with Marsh look like?

  1. You submit a proposal to Marsh Finance and the deal is underwritten and reviewed.
  2. If you’re eligible and have been approved for finance we will advise the Dealer or Broker (depending on how you’re purchasing your vehicle)
  3. You will then go through the terms of conditions of the contract, and then be asked to E-sign the finance agreement. All we’ll need is your proofs such as driving license and your most recent pay slip.
  4. We then wait for the Dealer or Broker will then submit the proofs, finance documents and invoice to Marsh Finance Limited, who will then validate all documents, and confirm the details over the phone with the customer, at which point if all the information is valid we will then pay the dealer / broker for the car.
  5. Once this is done then you can collect the car.

Do I need a deposit?

For agreements like PCP and HP, you will agree with us on a deposit and it will affect your month repayments (the bigger the deposit, the smaller the monthly repayments)

What is a interest rate?

Interest rate is the cost of borrowing money typically shown as an annual percentage rate. So you’d pay back the original amount loaned (known as capital) plus the designated interest rate percentage agreed prior.
So if you borrowed £1000 with a 10% Interest rate, you would have to pay back £1100 (as 10% of £1000 is £100)

How does my credit score affect my options?

  1. As with many lenders, your score will affect how much your monthly repayments will be. If your score is lower, it might mean your payments are larger. There are many thing you can do if your score is low and you want to improve it—our top tips would be
    make sure you’re on the electoral roll, it’s much easier to get credit if you’re registered.
  2. Keep up to date with your bills, it’ll show lenders you can keep up to date with payments
  3. Fix any mistakes on your report, by checking it regularly you can make sure its up to date with no mistakes.
    If any doubt, contact a credit referencing company to discuss your specific.

Still need help?

Let’s Talk, Get in Touch!

If you want to know more about how Marsh Finance can help your business, then get in touch today and our fantastic customer support team will be in touch regarding the services we offer, and how we can help you.