Vehicle Finance

Close is able to assess any given finance proposal on a case-by-case basis, rather than use a points scoring system. This means that by underwriting proposals manually many proposals rejected by a competitors scorecard system may be accepted.

CMF's core product is Conditional Sale which is the most common way to finance a vehicle through a motor dealer. At the beginning of the agreement, the customer pays a deposit to secure the vehicle while the remaining balance is paid over a set period. Interest is charged on the amount remaining and payable as part of the fixed monthly payments. Full ownership of the vehicle passes from Close to the customer on the final payment. The benefits of a conditional sale plan are largely focussed around convenience for the customer therefore helping dealers to secure the sale.

A particular area that Close has addressed, by dealer request, is the processing and acceptance fee issue. As these fees cover ever increasing costs incurred from customer searches, fraud investigations and the registration or deregistration of the vehicle with HPI-EQUIFAX, customers who are working to a fixed budget are often not prepared for the size of the first payment. Therefore, Close now enables them to spread the acceptance and processing fee throughout the term of the agreement, allowing dealers to offer equal monthly payments.

Providing service that best meets individual dealers' requirements is Close's strength. Close are able to tailor their proposition to meet individual dealer needs, providing a high class, quality service.