Help & Advice

How long does it take to get approved for a car loan?

Hi, I wonder if you can help me. I recently just tried to take finance out on a car and my application got declined because they wanted a guarantor.

So, I have now given the dealership the guarantor details. Do you have any approximate idea of how long it would take to get the finance approved?

Zoe


Answer

Hi Zoe, apologies for the delay in responding to your question. In all honesty i don't know the dealerships process so i'm not best placed to answer.

However, we give decisions within the hour so if you get declined for whatever reason please make an application here and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

Answer correct as of September 2016

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4 years

In this illustration your credit score is set to

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender

More related questions

Hi again, just wondering if there is a good chance of being accepted with a guarantor?

Answer

Hi Zoe, yes - as long as the guarantor has a decent credit history :-)

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Hi guys, I have worked for a company for the past 7 years plus with an agency but have now been taken on by the company itself which means i am still full time. Would i still be able to get car finance?

Answer

Hi Phillip, thank you for your question.

As you are full time employed we will be able to get you car finance secured as long as we can get an approval at one of our lenders. We do have lenders that help agency workers anyway.

We can reach a decision very quickly so please make an application here and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

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Asset 1 Just get in touch,

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Rachel Wilson, Underwriting Manager

Set your budget

£
4 years

In this illustration your credit score is set to

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender