I have PCP Finance on a car with Santander. Can I Cancel it?
August 15, 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, I've been turned down for a PCP even though I was putting down £4000 cash deposit and car is only £12000. I've never been refused credit before why could this be??
Asked by Julie
August 15, 2012
Hi. Do Fiat do a credit check for PCP's? I currently have one and am looking to change my car.
I have never missed a payment on my current car but have been late for credit card payments so my credit rating is only 400. Thanks
Asked by Janine Ashman
August 15, 2012
I am trying to get a pcp deal on a Nissan pathfinder but was turned down because my credit score is too low. The bad credit is due to a defaulted payment of only £6 I have no CCJ's or other arrears and have perfect credit in every other way. What could yo
August 15, 2012
The good news is that CarFinance 247 works with a panel of lenders, which means we can look to find you a PCP deal, even if you’ve been declined elsewhere.
However, we can’t guarantee that we will be able to help as everyone’s circumstances are different and we’d need to look at your individual details to find out if we can match you to one of our lenders offering personal contract purchase deals.
Get a quote to find out more. Rates from 6.9% APR. Representative APR 24.9%.
Find out more about PCP and whether it could be the right car finance option for you here
Hi, I have just been declined a PCP for a car for the value of £30k. I was looking for a loan for £26k with a £4k deposit of my own. My credit rating score is 825 with Experian which I believe is classed as moderate risk. I currently have a PCP with Sant
Asked by Leigh Dreyer
August 15, 2012
Hi, I wish to obtain 3 cars through a PCP for my family as gifts.. I want to do them all in my name. Mercedes credit company stated they couldn't do it because you can only have one pcp agreement is this the case? Regards, Laura
Asked by Laura
August 15, 2012
Hi, I have already got a Mercedes CLC on PCP which is due to be handed back in September. I have never been late or missed a payment in the 3 years. I ordered a brand new Mercedes ML which is due in September. The finance had apparently all been passed an
Asked by Claire Ridley
August 15, 2012
Hi there, Mercedes will settle my current "B" Class Car finance which is good news. I'd like a newer 3 month old Mercedes "B" Class valued at £24k. I'm looking for a PCP deal over 60 months and want a monthly repayment around £175 with a £5k deposit going
Asked by John Brett
August 15, 2012
Hi Rachel, I am looking to get a new car on PCP and have recently had 'fair' credit due to the amount of o/s credit on my files. I was knocked back by a credit card company recently however last month I remortgaged and paid all my debts off however experi
Asked by Lorna Brindle
August 15, 2012
Hi, I am looking to get a new car on finance, however I have had a default status on my credit file for the last three years (fully paid off in November 2012 - default amount around £16000). However, i don't want to be faced with the embarr
August 15, 2012
It can be challenging to get a new car on PCP if you have a bad credit history. This is because some lenders do require borrowers have a good credit score to be approved for a PCP loan. However, that doesn’t mean you have to give up on finding car finance if you have poor credit.
At CarFinance 247, we work with a panel of lenders including those that specialise in helping people with bad credit find finance. You can get a no obligation quote. We’ll run a soft credit check to find out if we can find you an approval in principle from one of our lenders but won’t run a hard credit check unless you choose to proceed.
If you have a bad credit score, you may want to consider HP car finance rather than PCP. With this type of finance, you may have higher monthly repayments than you would with PCP but when you reach the end of the agreement and pay the ‘Option to Purchase’ fee, you’ll own the car. You’re also unlikely to have any mileage restrictions with a hire purchase loan.
Looking to improve your credit score? There are several steps you can take to build your score and counteract a bad credit history.
Our Manchester based team are ready to help you.
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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).
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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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