Invest In DrivePay UK
Why Invest in Drivepay™?
We are a true mobility company we do everything from vehicle to finance.
Drivepay™ is one of the leading used vehicles retailer's in the United Kingdom with a primary focus on the sale and financing of used vehicles and related products to the subprime market. Drivepay™ is a privately held company that operates a fully integrated business model. Through our branded dealerships, we provide our customers with a comprehensive end-to- end solution for their automotive needs, including the sale and financing of their vehicle.
We focus on giving our customers the ability to acquire used vehicles through six key activities:
We acquire stock primarily from new & used vehicle dealerships closed auctions and rental partners. Our nationwide vehicle selection strategy utilizes a centralized process and employs a team of our own buyers purchasing vehicles from all over the United Kingdom.
Vehicle reconditioning and distribution
Subsequent to acquisition, vehicles are transported to one of our reconditioning centres, where we recondition the vehicles and carry out an AA inspection on every vehicle to check it meets the required high standards. Vehicles that fail this inspection are sent to auction and disposed of.
Drivepay™ is not able to make safety recall repairs, so vehicles may be subject to open recalls where we will carry out these checks prior to sale. Visit https://www.gov.uk/check-if-a-vehicle-has-been-recalled for more information about recalls.
We focus on selling used vehicles with affordable payments through our extensive network of company- owned & Franchise dealerships. Our dealerships maintain a wide selection of used cars, Van's and SUV's with vehicle ages generally ranging from one to ten years old.
Underwriting and finance
Using information provided as part of the credit application process, our centralized credit scoring system determines a customer's credit score and the corresponding minimum down payment and maximum instalment payment. We monitor the performance of our portfolio and close rates on a real- time basis, allowing us to centrally adjust pricing and financing terms to balance sales volumes and loan performance.
Through Universal Car Credit Ltd, we perform all servicing functions for our loan portfolio, from collections through to the resale of repossessed vehicles. Our collections are centralized into two regional collection facilities and our collections teams use sophisticated systems in our collection strategy.
After sale support
As a part of our commitment to supporting our customers even after they purchase a vehicle, we provide a 30 day Exchange Plan. A Drivetrain Warranty for the period of the loan and we offer Free MOT For Life with every car. You also have the option to purchase up to a 5 Year / 100,000 Mile Vehicle warranty. Other products may be purchased separately at time of sale. See individual branch for details.
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