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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Creation Car Finance

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?

Posted by Scott on

Answer.

Hi Scott, thank you for your question.

As you only have 3 more payments to make to Creation Finance i'd imagine your car is worth more that the balance owed. Basically, you can part exchange your current car at any dealer of your choice and they will settle the finance and you can use the equity in the car as a deposit towards a newer vehicle. Let's say your car is worth £3000 and you owe Creation £750 that would mean you have a £2250 deposit towards a new car.

We can beat dealer rates so we'd love to supply your new finance agreement. Please make an application and once approved you can choose a car from any dealer and we also provide a no obligation quote. Kind Regards, Edwin

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Question.

We currently have a vehicle on finance with yourselves. How do we go about trading it in against something else? Do we have to pay finance off or can we increase it or stay on same plan? Thank you

Posted by Christian Knight on

Answer.

Hi Christan, thank you for your question.

If you wanted to exchange your car the existing agreement would need settling and a new agreement would need to be established. How much do you owe on finance and what is your car currently worth (approx trade value)?

Once we know this detail we'll be able to understand whether you have any equity in your vehicle that could be used as a deposit or whether you are in any negative equity. Please make an application and once approved you can choose a car from any dealer and we also provide a no obligation quote. Kind Regards, Edwin

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