Getting a used car through OSV: FAQ

At OSV, we mainly talk about new cars and vans. But did you know that we also offer used cars?

That’s right, it’s not something we do all that often, but we offer used cars and vans on finance and to buy outright.

However, we haven’t done that many articles on getting a used car or van, so we haven’t yet answered many of the questions our customers ask.

So in this article, we are going to answer your frequently asked questions, ranging from what finance options are available to why you should get a used car from OSV.

Getting a used car through OSV

What cars are available?

We can source any make or model of any car or van in the country. Because we don’t have a showroom, we can find you cars across the UK, not just the ones that are in a showroom. We have a huge network of second-hand traders with thousands of cars available.

Even if we find a car for you that is not part of our network, then we can still arrange this for you.We will also do a background check on the company we are getting the car from to ensure that they are legitimate.

Do OSV supply vans?

Yes, we supply vans of all makes and models. There is no additional cost, no additional process, it’s exactly the same as if you were to get a car.

What checks do you carry out on your suppliers?

We only deal with the best suppliers and won’t do business with anyone we don’t think are legitimate. We ensure that the suppliers have been trading for at least three years and that they are financially stable.

Is there a criteria for vehicles?

There are some exceptions as to which cars and vans we will supply to you but this is purely for your benefit. We will also do our own check of the vehicle when it is in our possession. If it is not as advertised or it fails our own checks then we will tell you and find you a replacement. We will never supply you a bad vehicle.

Can I get a used car through OSV if I have already found it?

If you have already found a used car that you want to buy, then OSV can still help you out.

We will carry out all our usual checks on both the supplier and the car to make sure that it is in tip top condition and to minimise the risk for you.

We can also offer you some of the best finance rates on the market. We have access to 23 different finance houses so we can compare prices and find you the best finance deal for you and your used car.

So if you have found a used car that you want, then OSV can still help you out and make sure that you are getting the best deal for your situation.

Can I finance a used car?

Many people assume that you can only buy a used car outright, but this is not the case. You can get your used car on finance if you wish. You have two options;

Hire Purchase

The most common way of getting a used car on finance is by going through a Hire Purchase scheme. This is a purchase scheme in which you make fixed monthly payment for a set period of time. Once that time is up you own the car with nothing more to pay. There are no mileage restrictions nor do you have to keep the vehicle in a good condition. Not that we think you’re going to damage your vehicle of course, but you won’t have to think about keeping it within the BVRLA Fair Wear and Tear Guidelines.

You can read more about Hire Purchase here

Personal Contract Purchase

Your other option is getting a used car on a Personal Contract Purchase. This starts off similar to a lease. You have a car for a set period of time while paying a monthly fee. However, when that time is up you have a choice of three options.

  • Keep the car
    • You do this by paying the Minimum Guaranteed Future Value. This is pre-agreed at the start of the contract and pays off the remaining finance on the car
  • Hand the car back
    • This is subject to mileage and condition restrictions
  • Or part-exchange the car
    • If the car is worth more than the remaining finance then you get to keep the equity

Personal Contract Purchase is good for those who aren’t quite sure what they want to do at the end of the contract. You can read more about Personal Contract Purchase here or watch the video below.

What APR’s can I get?

The APR (annual percentage rate) is dependent on your personal credit file and will be ordered by your underwriter. If you have good credit then it could be 5% but if you have bad credit then it could be anything up to 29%.

However, we are a consultative service. So, if you are unsure what credit you can get then you can send us over your credit file and we can take a look for you before we send your finance application over. We can also give you some advice on how to make your finance application look more appealing to the finance house.

Is there a limit as to how much I can borrow?

If you can afford the payments, then you can borrow as much as you like. However, different finance houses have different rules so it’s best to speak to our experts. They will point you in the right direction.

Some contact us worried that they will not get approved because they have bad credit. We work with 23 different finance houses and they work with everyone including those who have bad credit. So we will ensure that we work with the finance house that will decrease your chances of getting rejected for credit.

Can I modify my used car if it is on finance?

If you have your car on a Hire Purchase then you can modify it. This is because you are going to own it at the end and you go into the contract with the intention of owning it at the end.

However, if you have the used vehicle on a PCP agreement, then it is a bit more tricky. Because you might not own the vehicle at the end and instead might hand the vehicle back, any modifications have to be reversed before the car is returned. Therefore, whatever modifications you make will have to be removed/changed back before your vehicle is returned to the finance house. So it’s a bit trickier.

We would advise holding off on making modifications until after your finance agreement is up and the vehicle is yours.

What happens if I am not happy with my vehicle?

We try and reduce the risk of this happening as much as possible. We send you as many photos and videos as you like of the car to minimise the risk of you not liking your vehicle.

However, if you’re really not happy with your vehicle then on certain finance schemes you will get a 14-day cooling off period and if you are unhappy then you will have the option to return the vehicle and get another one.

Will my used car come with a warranty and maintenance?

At OSV, we offer a six month warranty on all our used cars. This can also be extended if you wish.

Maintenance is not included. However, if the car is due a service then we will ensure that it is serviced before you take delivery of the vehicle. After it is in your possession you can get a maintenance and servicing package from your local dealership. 

How long can I get finance for?

You can get finance for up to five years and the contract can sometimes be as short as one year. We don’t go past five years because we don’t finance cars over a certain age as it increases the risk.

What are my options at the end of my contract?

What happens at the end of your contract depends on what finance agreement you have. If you have a Hire Purchase then you simply keep the car at the end, and if you have a Personal Contract Purchase then you can decide which of the three options you want to do.

Why should I get my used car through OSV?

There are plenty of reasons why you should get your used car through OSV.

We provide you with an unbiased opinion

We are the third party in this scenario, therefore we aren’t going to try and sell you a used vehicle that is simply not right for you. We won’t be afraid to tell you if we don’t think a car is right for you or if we think there is a car that is more suited to your situation. 

We are a safety net in case anything goes wrong

We provide you with a six-month warranty and we carry out our own checks on both the vehicle and the supplier to ensure that everything is legitimate and that the risk is as minimal as possible for you.

We will also ensure that you have all the documentation you need.

We will work with you to get the best deal for you

We have a wide network of suppliers and finance houses which means that we can help you find the best deal for your situation. We can use our impressive buying power and influence to get you the best deal on your used car.

Are there any fees if I get my used car through OSV?

The cost of the car will depend on the retail price and the APR. However, if you get your used car through OSV then you will have to pay a small fee of £360.

This is to cover the cost of sourcing the vehicle, collecting the vehicle and having it checked over, delivering your vehicle and for an account manager to look after you throughout the entirety of your contract. As you can see, it’s a small price to pay for a great service.

Hopefully, this has answered some of your questions about getting a used car in general and if you were to get a used car through OSV. Getting a used car is hugely simple, and there are many ways in which you can get a new car. If you go through OSV then you get a six-month warranty included and we carry out several checks on both the trader and the used car you want to get. If you have any questions, please do not hesitate to contact us via the contact form below. 

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