Premium Plan Ltd have been providing finance for cars in the less than perfect credit market for over 7 years, writing over £56m in loans and helping thousands of people buy a car.
We’re one of the few companies that can offer car finance to customers that are in a debt plan. We don’t feel that customers should be stopped in their tracks, simply because they’ve found themselves in financial problems in the past – in fact, we view the fact that they’re in a debt plan as a positive sign, signifying they’re taking control. We work in accordance with the regulator’s principles, and those of recognised trade associations to deliver fair and ethical products.
We look at and work through every individual’s circumstances to best understand their situation and requirements
We take into account a wide range of factors, this means that even if they’ve had credit problems in the past, or have been or are in a Debt Management Plan (DMP) or Individual Voluntary Arrangement (IVA), and have faced rejection from other lenders or are dealing with debt, we can often help.
We’re a lender who takes a flexible approach, and this allows us to often say yes where others don’t. These decisions are based on common sense; we carefully look at credit scores and history combined with other evidence of how customers have managed debt in the past. We perform a soft credit search, which doesn’t leave a footprint on their credit file too.
We offer B2C Hire Purchase agreements, and B2B agreements to dealer groups via a carefully selected panel of brokers. Loan sizes range from £2,500 – £15,000 over 3-5 years at rates between 19.9% and 29.9% APR. Through Red Potato, we work with customers from all walks of life – in a diverse range of situations. We have a particular specialism working with customers who’ve found themselves with a poor credit rating.