Navigating the Cost-of-Living Crisis
Addressing the Challenges of Today
Marsh Finance is here to support you through the Cost-of-Living Crisis. We understand that everyone has different financial challenges, and we want to support each of our customers through any difficulties they face.
We have broken down the cost-of-living crisis and how it may affect you, as well as how we can best support you through financial difficulties.
How Marsh Finance is Helping With the Cost-of-Living Crisis
Our dedicated, highly trained agents are on hand to deliver the best outcomes for you. If you are struggling financially, Marsh will provide you the following support.
Breathing Space
We can provide you the time you need to think things through.
Reduced Payment Arrangements
For a certain period of time, we can offer reduced payments, giving you immediate financial ease.
Vulnerability Identification
Our agents are trained in spotting signs of vulnerability and providing the necessary support immediately.
Regular Engagement
Don’t worry about the prospect of fighting your finances alone. We will be in regular contact during your support period to ensure you never feel alone in your challenges.
Save Money by Refinancing
Instead of taking the full settlement path, refinancing lets you renegotiate the terms of your existing loan. It includes swapping your agreement for one that might offer lower monthly payments or the opportunity to upgrade or downgrade your vehicle. Refinancing is all about recalibrating your journey to better match your financial landscape.
Imagine cruising down a highway with fewer toll booths. Refinancing can potentially reduce your monthly financial stops, freeing up cash for other journeys in life. With refinancing, adjust the length of your loan or negotiate other terms to ensure your financial journey fits just right with your current life map. In the current cost-of-living crisis, refinancing can be a great option for easing financial burdens.
However, with refinancing, it is important to acknowledge the likelihood of higher interest rates as lenders look to offset risk. There’s also a chance of significant car depreciation due to the car loan being extended to ensure payments are made.
Advice and Articles to Help
Access valuable advice and articles to guide you through managing your finances during the cost-of-living crisis.
Marsh Finance x Step Change
Marsh Finance is a proud partner of Step Change, a debt support charity providing help and support to customers struggling financially.
Reach out for support at no cost, and gain access to financial advice and expert payment plans.
Reach Out for Support
Don’t face the cost-of-living crisis alone. Reach out to Marsh Finance for support, advice, and solutions tailored to your situation.
Cost of Living FAQs
What is the cost-of-living crisis?
Since 2021, households across the country have felt the pinch financially, with generic living costs increasing significantly. From the everyday shop to household bills, households have struggled cope with significant price rises, leaving little disposable income around.
How can I contact your support team for assistance?
You can contact our customer support team either by email at customercare@marshfinance.co.uk or by phone at 01706 648882.
Are there specific requirements to be eligible for refinancing?
The most important thing you can ensure is that you can afford the car finance agreement on offer. When you choose to refinance, you are committing to a fresh agreement, and although the terms may seem enticing you must ensure the terms are affordable in the long run.
How can I make informed financial decisions to control my expenses?
Luckily with the technology available today, there are fantastic resources to make the best financial decisions. Here at Marsh, we offer a dedicated blog page that will provide you with the latest car finance news and advice. If you are looking for more forensic financial advice, you can speak to a member of our team.
Are there any fees associated with seeking assistance or refinancing?
Here at Marsh Finance, we charge a small £10 fee for ending your existing agreement early. If however you are ending a car finance agreement with a different lender, fees may change. As such, we recommend checking with your loan provider before making any refinancing decision.
Can I adjust my payment schedule to better suit my finances?
You can. In fact, this is one of the main perks of refinancing. If you are struggling to meet monthly repayments at the current amount, refinancing can allow you to lower monthly payments and extend your loan period, in order to eventually make a full repayment. With this type of agreement, you will likely face higher interest rates, as the lender looks to offset the risk associated with the agreement.
Can I get assistance if I have credit agreements with another lender?
Of course you can! Apply for refinancing with Marsh today, a company with 50 years’ experience and considerable expertise in the car finance industry. With a quick and easy form, you can find out the same day if refinance is an option for you.
How can Marsh Finances help me during the cost-of-living crisis?
Marsh Finance offers tailored support to suit every customer perfectly. We can offer the following support to customers struggling financially:
Breathing space: we can provide you the time you need to think things through.
Reduced payment arrangements: for a certain period of time, we can offer reduced payments, giving you immediate financial ease.
Customer outcome at the forefront: our dedicated, highly trained agents are on hand to deliver the best outcomes for you.
Vulnerability identification: our agents are trained in spotting signs of vulnerability and providing the necessary support immediately.
Regular engagement: don’t worry about the prospect of fighting your finances alone. We will be in regular contact during your support period to ensure you never feel alone in your challenges.
Can refinancing help me save money during the cost-of-living crisis?
Refinancing can be a good option if you are struggling to keep up with payments. By refinancing, you can change your agreement to cheaper monthly payments, either by downgrading your vehicle or extending your loan period to ensure you make full repayment. If you are ready to refinance, click here.
What advice and resources do you offer for managing my finances?
We provide the latest car finance news and advice, to give you all the tools to get the most of your car finance agreement. Visit our dedicated blog site here.
Do you offer budgeting tips for dealing with the cost-of-living crisis?
We do! We currently have the following blogs available on our site:
https://www.marshfinance.com/blog-cost-living-car-servicing/
https://www.marshfinance.com/blog-will-interest-rates-continue-to-grow/
https://www.marshfinance.com/blog-money-tips-2023/
How long does the refinancing process typically take?
If you apply for refinancing, you will find out if you’re pre-approved on the same day without impacting your credit score. Marsh Finance prides itself on a quick and easy application journey, so apply today and you’ll be on the road in no time.
What documents do I need to provide for refinancing?
When refinancing, you will need to provide all the documents you would provide for an application:
- Proof of identity
- Proof of address
- Proof of income
- Credit report
- Vehicle information
- Possible information on your outstanding agreement
- Chance for alternative documents depending on the lender in question
Representative Example
Rates from 14.9%
Representative example: borrowing £10,000 over 60 Months with a representative of 17.9% APR, an annual interest rate of 17.9% (fixed), and a deposit of £0.00, the amount payable would be 59 repayments of £255.42 per month, with one final repayment of £265.42 (which includes the option to purchase fee of £10.00), with a total cost of credit of £5,335.20 and a total amount payable of £15,335.20.
Marsh Finance Limited are a lender, not a broker.
This is for illustrative purposes only and is not a quote or an offer of finance.