Quick Car Finance – Start-up Profile

  • Quick Car Finance was founded in 2018


  • Customers get the best deals on car finance without inflated rates from car dealers or large balloon payments


  • Every partner was required to sign an agreement to be transparent and offer one rate for every customer


Company Background

Quick Car Finance was founded in 2018 to offer greater transparency in the UK’s car finance industry.

With over 30 million motorists in the UK, many are overpaying for car finance without realising it. Quick Car Finance was set up to offer best rates to car buyers based on their affordability and credit status- whilst removing the prospect for car dealers to inflate prices.

The company was founded by Iain Williams and Paul Williams. The start-up is based in Bournemouth, a popular hub for Fintech and consumer finance.


What is The Market Problem?

Currently 90% of Britons use personal contract purchase (PCP) to buy a new car. Many are attracted to the opportunity to make a small deposit, pay monthly and have the option of a balloon payment if they wish to buy the vehicle outright after 3 to 4 years.

The Financial Conduct Authority (FCA), the finance regulator, has highlighted two main issues with this.

Firstly, until regulation was introduced in 2019, car dealerships could charge above the market rate to customers and they were inclined to do so to earn more commission.

Secondly, balloon payments can be majorly inflated and several years of making payments means that motorists are no closer to owning the vehicle outright.

A recent FCA report shows that the average customer could have paid up to £1,100 over a 4-year deal on their car finance than if they had purchased car finance elsewhere.


What is Quick Car Finance Doing to Address This Problem?

Quick Car Finance chooses to offer hire purchase over PCP, so customers will be paying each month for their car but they are building up to eventually own it outright.

All new enquiries start with affordability checks and what the individual customer can budget for. The partner lenders will provide tiers based on credit and affordability and offer the best rate to the consumer, no matter what the commission is.




At Quick Car Finance, customers get the best rates for car finance, regardless of commission


“We offer a quick car check on all vehicles purchased through our website,” explains founder Iain Williams and Paul Williams. “We check the dealer, the car’s history and everything in between. Nothing gets purchased without making sure it is the best possible deal for the customer.”

“When we started, we made every partner sign an agreement to make costs transparent and offer the same rate for each customer. This was sent and agreed upon with every partner, finance company and broker that we work with from day one.”

“We were fortunate that we could do this from the very start of the business, rather than a more established company that would have to change a lot of internal processes and how they operated.”

“We offer transparency with car finance and put the customer first every step of the way.”

For more information, visit the Quick Car Finance website.