Concept Car Credit
May 24, 2012
Total cost of credit | £ 2000 |
---|---|
Total repayment | £ 2000 |
48
monthly
payments of |
£
245
98
|
Rates from 9.9%: the exact rate you will be offered will be based on your circumstances, subject to status.
Representative example: borrowing £25,000 over 48 months, £3,750.00 deposit, on PCP, with annual mileage of 8,000pa, and a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed), the amount payable would be £394.51 per month, an optional final payment of £7,194.33, with a total cost of credit of £9,912.36 and a total amount payable of £28,444.33.
We look to find the best product from our panel of lenders and will offer you the best deal that you’re eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.
Hi Rachel, I only have one wage slip. Do i need to get more?
Asked by Rachel
May 24, 2012
Hi, I'm 18 wanting a car on finance. I have a £2500 deposit and work full time, what's the chances of getting finance and how could I increase my chances? Many thanks.
Asked by Jacques knight
May 24, 2012
Hello, I would like to apply but before I do I was wondering what is the application criteria for a car loan?
I have a very poor credit score even though I've never had a bank loan, an overdraft or anything but thanks to bank charges on m
Asked by Carly
May 24, 2012
Hi. I have no adverse credit on my file. Currently renting a private house and just been added to electoral roll. I pay my bills every month on time. I use my overdraft and have a credit card and mobile contract. I have a personal loan and car hp which I
Asked by Richard
May 24, 2012
Hello, My daughter is 23 and she is taking lessons. Does she need to have been driving for a period of time before she can apply for car finance? Thank you
Asked by Colin
May 24, 2012
Hello, My partner wants to get hire purchase but has a bad credit rating. On the other hand i have a really good credit rating but he is the one that has the driving licence. Can we still get car finance or not?
Asked by Maria
May 24, 2012
Hi, i have my car on HP which i took out 6mths ago, however my partner requires a car so wanted to know if i am able to take out a 2nd HP agreement (especially so soon after starting my own)?
Asked by Amanda
May 24, 2012
Hi Rachel, I'm after a car loan very quickly. Can you give me an instant decision if i apply for car finance today? Please hurry back, Y!
Asked by Yukko
May 24, 2012
Hi Yukko, thank you for using the Q&A.
When we receive applications, we'll take a look at them in detail to ensure we are finding the best deal for individual circumstances, with our aim being to get a decision back to our customers within 1 hour.
Please make an application when you're ready, and if approved, you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel
Hello, I currently still have 3 more monthly payments to make on a car loan i have with creation finance.
Would you be able to settle that and add it to a new finance agreement with you?
Asked by Scott
May 24, 2012
Hello Rachel, Is there a limitation on how many cars one person can have on finance at any one time?
Asked by Stacey
May 24, 2012
There’s no limit to how many cars you can have on finance at one time. The number of finance agreements that you can be approved for would depend on your individual circumstances, credit history, and affordability. It isn’t unheard of for people to have two or three car finance agreements in their name.
Finance providers must lend responsibly and make sure that borrowers don’t end up taking out loans that they can’t pay back or will leave them with no money left over to pay for essentials. Car finance is a commitment and agreements can last for several years so it’s important to be aware of the effect they might have on your financial health. You should only consider taking out more than one car loan if you can comfortably afford it.
Think about timing when you apply for a second or third car finance agreement. When you take out a new deal, you might see your credit score decrease slightly as you’re taking on a large new debt. It should recover quickly once you start paying back the loan, but a lower credit score could make it more difficult for you to secure another agreement straightaway.
Making a lot of finance applications that leave hard searches on your report can also impact your score. When you get a quote with CarFinance 247, we’ll run a soft credit check to see if we can find you an approval from one of the lenders on our panel. A hard search will only take place if you decide to proceed and take out an agreement.
Our Manchester based team are ready to help you.
* The UK's largest online car finance broker by unique users to the website. Based on Similar Web data – 1,137,647 to CarFinance 247 vs. 753,819 for nearest competitor. January to June 2023.
CarFinance 247 is a trading name of CarFinance 247 Limited. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. (Registration Number 06035525).
CarFinance 247 is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 653019). CarFinance 247 is registered with the ICO (Registration Number Z1897658).
Finance is subject to status and is only available to UK residents aged 18 and over. Written quotations are available on request.
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