V12 Procedure Guide - Flipbook - Page 7
Procedure Guide
Procedure Guide
Dealer Fitted Options (DFOs)
The funding of DFOs will be included in our maximum lending of 120% of Retail Valuation
We can fund the following products at their applicable values. However for ‘Dealer Fee or Dealer Admin
Fee’ we will only allow a maximum amount of £199 (incl VAT) on any one deal. This requirement will be
checked at the point of pay-out and will result in a re-sign if the £199 (incl VAT) is exceeded.
NB – Please note that V12 Vehicle Finance will not accept any business from a dealer where an administration or dealer fee has been charged for the arrangement or introduction of finance to the customer.
The administration or dealer fee must be a genuine charge related to the purchase of the vehicle and
therefore included in the total vehicle sales price.
Maximum mileage
at time of proposal
125,000
102,000
Maximum mileage
at end of term
N/A
120,000
Maximum deposit
N/A
25%
Loan Advance
Minimum £3,000 -
Minimum £3,000 -
Maximum £55,000
Maximum £55,000
Fuel
As Applicable
First Registration Fee
As Applicable
Road Fund Licence
As Applicable
LTV
120% of Retail Valuation
120% of Retail Valuation
Delivery Charge
As Applicable
Mileage Per
Annum
N/A
9,000 – 30,000
Dealer Fitted
Accessories
As Applicable
V5 Requirement
Registered in the
customer’s name
Registered in the customer’s
name
Factory Fit Options
As Applicable
*Administration fee or
Dealer Fee
£199 (incl VAT)
Delivery Charge
As Applicable
Exclusions
Vehicle Criteria
Vehicle Age
HP
PCP
Maximum 10 years (120
months) at the start of the
agreement and to be no
older than 12 years (144
months) by the end of the
agreement
Maximum 5 years (60
months) at the start of the
agreement and to be no
older than 9 years (108
months) by the end of the
agreement
Excluded
Employment
Status
• Temporary contract less than 6 months
Excluded Deal
Types
• Instances where vehicle is being used for the purposes
of income generation (e.g. Taxi Driver, Courier, Delivery
Driver)
• Zero hour contract / agency less than 6 months
• Accommodation Deals
Excluded Vehicles
• Vehicles intended to be used for income generation (e.g.
taxi)
• Commercial Vehicles
• Winnebago, Vans or Pickup Trucks
• Imported Vehicles, Parallel or Grey Imports
• Left Hand Drive Vehicles
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