Help & Advice

Car Finance for my Daughter

Hi, my daughter is trying to obtain finance for a car for £7000. She has been in full time employment for one year on £18k per year. She has a mobile phone contract and has recently been approved for a store card. She has made one application for a loan and been declined. Can you help, she has already found a car she wants.

Jane


Answer

Hi Jane, we'd love to help your daughter obtain car finance. Where did she apply and get declined? Is your daughter on the electoral roll and does she have a deposit at all as this would improve her chances of being approved. Finally would you be able to act as a guarantor if need be to strengthen the application?

Please make a joint application when you're ready and if approved your daughter 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

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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