Help & Advice

£4000 car loan

I have a poor credit rating and would like finance for £4000.

I work part time only and earn £835 a month. I had been approved for finance with another company but was declined when I produced wage slips because I was not earning £865? Could you assist me ?

Wayne


Answer

Hi Wayne, we'd love to be able to help and I'm fairly confident that we can as we do deal with lenders that help people who work part time.

Where did you apply and get approved only to be turned down? If you can let me know, it would be greatly appreciated. Your income should just about allow us to get you the £4000 that you need which is positive and if you have a small deposit that will help.

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

Answer correct as of September 2016

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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, my credit score is around 549 as i have a few old defaults on my file but everything has been paid on time in the last few years. I am on the electoral roll and currently earn around £22,000 per year. I will be looking for a car price range of £4000-6000 and have £1000 available for a deposit. Do you think i would be approved and if so what interest rate would i be looking at. Thanks

Answer

Hi James, although your credit score is fair to poor, you do have a healthy income and are on the electoral roll, with are both benefits to your application. We do have lenders that help people with past defaults. If approved, the minimum of £4000 should be fine. Please apply when you are ready. Kind Regards, Rachel

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I am looking to finance a new car for £4000 over 48 months and wanted to know what the monthly payments would be?

I've had finance before but have given the car to my sister who is paying the finance although it's still in my name. My income is £1400 per month.

Answer

Hi Kealan, thank you for your question.

With a healthy monthly income of £1400, we'd be fairly confident of being able to get you approved for the £4000 needed. The amount you repay will depend upon your credit history but as a rough guide if you have a good credit history you'll be paying £100 per month over 48 months for £4000.

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

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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