Credit scoring is the process used by financial service companies to evaluate the credit risk of new applicants. This technique will be applied to your application for online finance. Credit scoring works by awarding points for each answer on the application form such as age, income and occupation, together with information obtained from credit reference agencies. This information allows V12 Retail Finance to produce consistent decisions, ensuring all applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion or disability.

In addition to credit scoring, V12 Retail Finance also take into account confirmation of your identity, validation of specific application details, existing commitments and information held at the credit reference agencies.

Though V12 Retail Finance is unable to provide you with a main reason for the decline of your application, it is usually based on one, or a combination of the following:

Your credit score (note: every finance company will score you differently);
Adverse credit reference agency information;
You are considered to be overcommitted;
You are aged under 18;
Your existing account performance with other lenders

To apply for finance, you must be over the age of 18, work at least 16 hours a week, be in receipt of disability benefits, or be retired with an income. You must also be a resident of the United Kingdom and have lived in the UK for the last three years or more. Unfortunately, online finance cannot be offered to residents of Eire.

Yes. V12 Retail Finance acknowledges that your circumstances may change and just because a previous application has been refused, it does not mean that further or future requests are automatically declined. It is respectfully suggested that you leave at least 6 months between applications.

To apply for finance, you must be over the age of 18, work at least 16 hours a week, be in receipt of disability benefits, or be retired with an income. You must also be a resident of the United Kingdom and have lived in the UK for the last three years or more. Unfortunately, online finance cannot be offered to residents of Eire.

In order to safeguard against fraudulent applications, it is not possible to deliver goods to any address other than the address provided on the V12 Retail Finance application.