Stoneacre Finance Reviews

Stoneacre Finance is a trading style of Stoneacre Motor Group Limited, a large UK-based car dealership chain. They offer various finance options to help customers purchase vehicles from their dealerships. Understanding customer experiences with Stoneacre Finance is crucial before committing to a finance agreement.

Positive Reviews Often Highlight:

• Wide Range of Finance Options: Stoneacre Finance typically offers Hire Purchase (HP), Personal Contract Purchase (PCP), and Conditional Sale agreements. This allows customers to choose a plan that suits their budget and needs.
• Convenience: As the finance is offered directly through the dealership, the application process can be streamlined and convenient. Customers can often arrange finance alongside selecting their vehicle.
• Acceptance Rates: Some reviews suggest that Stoneacre Finance may have more flexible lending criteria than traditional banks or building societies, making it accessible to individuals with less-than-perfect credit histories.
• Helpful Staff: Occasionally, reviewers mention positive experiences with specific sales representatives who were helpful, informative, and guided them through the finance process.

Negative Reviews Frequently Mention:

• High Interest Rates: This is a common concern. Due to potentially more flexible lending criteria, the interest rates offered by Stoneacre Finance can sometimes be higher than those available from other lenders. Customers are advised to carefully compare APRs (Annual Percentage Rates) before committing.
• Add-ons and Upselling: Some customers have reported feeling pressured to purchase additional products or services, such as warranties or GAP insurance, which significantly increase the overall cost of the finance agreement.
• Lack of Transparency: A recurring complaint is a lack of transparency regarding the terms and conditions of the finance agreement. Customers may feel misled or not fully informed about fees, early repayment penalties, or end-of-agreement options.
• Customer Service Issues: Some reviewers have described difficulties contacting customer service, resolving issues, or obtaining clear information about their finance agreement.

Things to Consider:

Before taking out finance with Stoneacre Finance, consider the following:

• Compare Finance Options: Don’t just accept the first offer. Shop around and compare APRs, monthly payments, and total cost of credit from other lenders, including banks, credit unions, and online finance providers.
• Read the Fine Print: Carefully review all the terms and conditions of the finance agreement before signing. Pay attention to interest rates, fees, repayment schedules, and any penalties for early repayment.
• Negotiate: Don’t be afraid to negotiate the terms of the finance agreement, including the interest rate and any add-on products.
• Understand Your Rights: Familiarize yourself with your rights as a consumer, including the right to cancel the agreement within a cooling-off period.
• Seek Independent Advice: If you’re unsure about anything, seek independent financial advice from a qualified professional.

Conclusion: Stoneacre Finance can be a convenient option for financing a car purchase. However, it’s essential to be aware of the potential drawbacks, such as higher interest rates and potential for upselling. By carefully comparing options, reading the fine print, and understanding your rights, you can make an informed decision that’s right for you.