The 'rate of interest' is the cost you will pay each year to borrow money, expressed as a percentage rate. It does not reflect fees or any other charges. The 'APR' is a broader measure of the cost of borrowing than the interest rate. The APR reflects the interest rate, and other charges that you pay to get the loan. The FCA description of any APR is "APR stands for the Annual Percentage Rate of charge. You can use it to compare different credit and loan offers. The APR takes into account not just the interest on the loan but also other charges you have to pay, for example, any arrangement fee. All lenders have to tell you what their APR is before you sign an agreement. It will vary from lender to lender.

Credit scoring is the process used by financial services 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 given on the application form such as age, income and occupation, together with information obtained from credit reference agencies.

This information allows consistent decisions to be provided, ensuring all applicants are treated fairly. Credit scoring does not discriminate on the grounds of sex, race, religion or disability.

Some of the information is public information, for example electoral roll, County Court Judgements and bankruptcies. Other lenders may also file information about accounts you hold with them for instance this could include your payment history and outstanding balance on these accounts. Any requests for credit, where a credit reference search has been undertaken, will also be filed, although the result of the request is not recorded.

The V12 application form takes less than 5 minutes to complete, and you will get an instant answer on whether your application for finance has been successful. In some cases, V12 Retail Finance will need to look at the application in more detail before making their decision.

All you need to do is select the products you wish to purchase, choose finance as your payment method at checkout, select your desired finance product and whether you want to place a deposit and then checkout. Upon checking out you will be redirected to the V12 platform to complete your finance application via their simple and quick online form. It's important you use your full name and address details and make sure everything is spelt correctly. Please note, this is an online only finance option.

If your application is accepted and you have chosen to pay a deposit with your order, you’ll be asked to pay your deposit through the V12 system and then sign your finance agreement electronically. Once you have done this, we will be notified that you have successfully completed your application and will process your order for delivery in line with the delivery timescales you were shown at checkout.

Applications may not be accepted for a number of reasons, including mis-typed information, or not meeting the specified requirements. Please note that other conditions may apply and we cannot guarantee that your application will be accepted.

If your application isn't successful, you can still purchase the item or items you would like in full via PayPal or with a valid credit or debit card or any of our other payment methods. If your application is declined, it’s usually for one of the following reasons:

• you do not meet the eligibility criteria;
• adverse credit reference agency information;
• your credit score;
• you are considered to be overcommitted financially; or
• your existing account performance with other lenders.

If you wish to appeal the decision made by V12, it’s advised you obtain an up-to-date copy of your credit report from either of the Credit Reference Agencies listed below before appealing directly to V12. Due to data protection, all customer appeals must be emailed to [email protected] and a member of V12’s Underwriting Team will respond to you accordingly. You can also contact the Credit Reference Agencies if you think there is a mistake on your credit report:

• Experian
• Equifax
• TransUnion

Yes. At V12 we acknowledge that circumstances change and just because a previous application has been refused, it does not mean that a further request will automatically be turned down. We do suggest however, that you leave at least 6 months between applications.

For any questions about your loan, such as your Direct Debit or updating your personal details, please contact V12 Retail Finance. Their contact details will be provided throughout your application and on all the communications you receive about your finance application.

During the V12 application process you will confirm your bank details for your repayments to be collected via direct debit. You can also make overpayments by contacting V12 directly or via your V12 self-service portal that you will be sent more information about via email once you have successfully completed your application.

Your loan repayments will be to V12 Retail Finance and will start approximately 30 days after your goods have been delivered.

In order to safeguard against fraudulent applications, we are only able to deliver goods to the address stated on your finance application.

If you have been approved for finance, the term cannot be amended but we may be able to amend the loan amount, however, please note you may not be accepted for a higher amount. You will need to contact us (your retailer) to amend the loan or the goods or services you ordered, and you may need to complete a new application for finance. Please note we cannot guarantee a new credit application will be approved.

Please contact us at [email protected] or on 03452226355 quoting your name and order number and a member of our team will contact you.

Please contact a member of the V12’s Customer Services Team on 029 2046 8900 or via email on [email protected] who will be able to deal with this request. You can also update your Direct Debit details via the V12 self-service portal if you have setup an account.

Fees may be payable to V12 Retail Finance in line with the terms of your credit agreement if you fail to maintain your repayments. Fees and charges may include late payment fees and failed direct debit collection fees. Full details of any potential fees and charges will be set out in the terms of your credit agreement.

Please see the returns and cancellations section of our delivery and returns. Some products cannot be cancelled, for example, made-to-order or bespoke goods, so you should check this before you complete your purchase.

Where you do have the right to cancel, you must do this within 14 days from the date order is received.

To cancel your finance agreement, please contact us (your retailer) and arrange to return your purchase or cancel the services in line with our terms and conditions and your statutory rights. Once we have confirmed your cancellation, we will advise V12 to cancel your finance agreement and they will refund any deposits or repayments that have been made where applicable. If you made your purchase in-store, we will refund any deposit payment that you made. Your finance agreement can only be cancelled by V12 if your purchase is cancelled with us.

If you are not satisfied with your purchase in line with your statutory rights under the Consumer Rights Act, you can return it to us up to 30 days after delivery. In these instances, we will check this against our returns policy which are detailed within our terms and conditions and if your claim is in line with this, we will notify V12 to reduce your loan amount accordingly. You will receive confirmation from V12 within 5-10 business days after we received your return in cases where a full refund is processed.

You have the right under section 66A of the Consumer Credit Act 1974 to withdraw from the agreement without giving any reason before the end of 14 days (beginning with the day after the day on which agreement is made or, if later, the date on which V12 Retail Finance tells you that they have signed the agreement). If you wish to withdraw you must give V12 Retail Finance notice in writing or by telephone on 029 2046 8900 or by emailing [email protected]. You can also find V12’s contact details on your credit agreement

Please note that if you do give notice of withdrawal, you must repay the whole of the credit without delay and in any event by no later than 30 days after giving notice of withdrawal. You will also have to pay interest accrued from the date the agreement was made until the date you repay it.