Is Car Loans 4 U the Best Finance Company?

Q: Is Car Loans 4 U the best finance company? ~ John, Derby.

By Car Loans 4 U we assume this query is directed at CarLoan4U (they are mostly searched under this spelling). However which way this broker has historically been known, a recent development has seen a rebrand with them taking on the new name of Zuto. Most people should get used to this name quickly as they will soon be running a nationwide TV ad campaign. To address… Is Car Loans 4 U the Best Finance Company? From the data that we have analysed, they have been the most impressive broker studied to date. Across every other market our full focus is on direct lenders. Things however work a little differently with motor financing.

This is that you can only access select lender financing through their approved partners that is made up of brokers and dealers. Financing is secondary to dealers who tend to use a small panel. The best brokers are highly specialised and you see a much larger panel. In regards to Zuto, they use 15 lenders that includes big names such as Barclays Partner and Santander Consumer. They only note 4 brands that each cater good credit. There are various bad credit companies attached though, but these aren’t shared (this could perhaps be so that their rivals don’t copy them). There are in total 60 products available that stretches across conditional Sale, hire purchase and personal contract purchase.

It would be assumed that a personal loan would also be possible. The interest is headed across 5 varied tiers that includes 6%, 9.9%, 14.9%, 23.9% and 31.6%. Those with CCJs and defaults are considered, but the highest rate would need to be paid. Valued market experience is of course always important to see. CarLoan4U has been trading since back in 2006 and today they facilitate agreements valued close to £24 million monthly. The Macclesfield-based broker started small, but they now employ 250 staff that are spread across their main HQ and their new Manchester office. Customer satisfaction rates have been headlined between 97% and 98%.

For independent reviews they also score highly that includes Review Centre (at 4.5/5) and Trustpilot (at 9.5/10). Some key features that helps to differentiate them is that they do process applications 7 days a week. You receive a free dealer check, free HPI check and a valuation report. Whilst they have preferred partners you can use any dealer or private seller for your vehicle. All of the paperwork is dealt with on their side and they process a same day CHAPS payment. It is noted that no deposits are possible. If you did prefer to make one to cut down the repayments then you could always part exchange your current motor.

As you can see, there are some noteworthy qualities in place. One area that could be improved would be for them to be a little more transparent in regards to their lender panel, but otherwise they perform well in every area. Whether Zuto is the best finance company on the market today is unclear, but they have as noted been the firm that has impressed us more so than any other. We still however have lots of data to crunch in our coverage of motor financing. It is worth mentioning that they do have fierce competition. Their most well known rival who they have been battling out with in recent years has been CarFinance247.