betginge 73 Posted November 28, 2016 Hi Guys can anyone tell me what the vehicle age criteria is for first response, I know the mileage policy but not how old of vehicle they will finance and what term etc. Also be good to hear reviews from dealers of the service, commission kickbacks, and reject rates. Lee Share this post Link to post Share on other sites
sparky 274 Posted November 29, 2016 11 hours ago, betginge said: Hi Guys can anyone tell me what the vehicle age criteria is for first response, I know the mileage policy but not how old of vehicle they will finance and what term etc. Also be good to hear reviews from dealers of the service, commission kickbacks, and reject rates. Lee I've sold 2007 cars with them this year. From memory they were 3 year terms. Compared to what they were, I think they are a now fantastic company to deal with. Applications are speedy, the docs are simple and payout is super quick. I get £50 a car but to be honest that's the icing on the cake on a sub prime deal. Customers also seem to be happy with them and you do get repeat business from them. Most importantly though, their complimentary mugs are great, especially this time of year. Get on board would be my advice. Share this post Link to post Share on other sites
justina3 518 Posted November 29, 2016 I was also thinking thats a bucket load of cars lol Share this post Link to post Share on other sites
betginge 73 Posted November 29, 2016 Cheers Sparky I cant seem to pin down what the vehicle age criteria is, The reason i ask is I am thinking of using them and I have a nice clean 59K Zafira petrol on a 2006 06 that's ideal for sub prime finance customer. None of the other sub prime lenders go that far back but was told FR do finance older vehicles. I could deal this zafira out easy if the finance for sub prime is there for a decent retail Price. If not it will be cash retail and will have to drop the price to compare against others locally and will take longer to shift. anyone has any further info be grateful Share this post Link to post Share on other sites
First Response 2 Posted November 29, 2016 Hi @betginge, Glad you're thinking about doing business with us. To answer your question we don't have a maximum age for vehicles, we'll take everything else into consideration to ensure it's reasonable for us to do the deal. So, for example, a car could be 12 years old but if it meets our mileage criteria there's no reason we can't look at it. With your example of a 59K 06 Zafira, this sounds like something we would finance (subject to meeting all other criteria, of course). Our usual terms are between 18-48 months but, as @sparky mentioned, our most popular option is a 3 year term as this tends to give customers the best deal possible. As for reviews from dealers we'll let that discussion continue. Thanks, Marketing at First Response Finance Share this post Link to post Share on other sites
betginge 73 Posted November 29, 2016 Well that answers my question Many thanks First Response for getting back to me, You will be hearing from me soon. Be interesting to hear other dealers views on FR or issues they may have been having now they have joined the forum 1 Share this post Link to post Share on other sites
macffar 0 Posted December 10, 2016 My first experience with "first response" hasn't been great!!! I referred a customer to them regarding a finance on a clio £1800 they accepted him in principle and went about all normal familiarities, all agreement doc was emailed to us our customer signed and we emailed back. all we were waiting for was the green light an hour half later we had a call from them saying the deal is off cos something came to light on the bank statement which I find it unusual................with all the admin work involved I find it as a BIG wast of time.........just be ware of them still...... On 11/29/2016 at 0:38 PM, First Response said: Hi @betginge, Glad you're thinking about doing business with us. To answer your question we don't have a maximum age for vehicles, we'll take everything else into consideration to ensure it's reasonable for us to do the deal. So, for example, a car could be 12 years old but if it meets our mileage criteria there's no reason we can't look at it. With your example of a 59K 06 Zafira, this sounds like something we would finance (subject to meeting all other criteria, of course). Our usual terms are between 18-48 months but, as @sparky mentioned, our most popular option is a 3 year term as this tends to give customers the best deal possible. As for reviews from dealers we'll let that discussion continue. Thanks, Marketing at First Response Finance My first experience with "first response" hasn't been great!!! I referred a customer to them regarding a finance on a clio £1800 they accepted him in principle and went about all normal familiarities, all agreement doc was emailed to us our customer signed and we emailed back. all we were waiting for was the green light an hour half later we had a call from them saying the deal is off cos something came to light on the bank statement which I find it unusual................with all the admin work involved I find it as a BIG wast of time.........just be ware of them still...... Share this post Link to post Share on other sites
First Response 2 Posted December 12, 2016 On 12/10/2016 at 3:47 PM, macffar said: My first experience with "first response" hasn't been great!!! I referred a customer to them regarding a finance on a clio £1800 they accepted him in principle and went about all normal familiarities, all agreement doc was emailed to us our customer signed and we emailed back. all we were waiting for was the green light an hour half later we had a call from them saying the deal is off cos something came to light on the bank statement which I find it unusual................with all the admin work involved I find it as a BIG wast of time.........just be ware of them still...... Hi macffar, We can’t answer specifically for this customer as we don’t know who it is or which dealership you are from but it sounds as though the bank statement you sent over didn’t show what we were expecting based on the application. From a responsible lending point of view we would have found it wrong for us to lend if the customer was either already in debt (shown on the overdraft) or was earning less than we expected. We can understand your frustrations on this but most of our approvals are with the condition of seeing certain documentation to ensure we’re only lending to those who can afford it and not putting financial strain on customers. As we said previously, this is an assumption based on the information you’ve provided as we don’t know which customer this relates to. The reasons for declining this customer should have been explained by one of our team but if you would like us to clarify any information please get in touch. We do hope you consider using us again, it may be worth having a chat with one of our sales team so you fully understand our processes and know what to expect? Thanks, Marketing at First Response Finance Share this post Link to post Share on other sites
