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What Does Being Provisionally Approved for Car Finance Mean?

Hi there, I was just curious to know that after being provisionally approved is there still a high percentage that I could still get refused?

Has the credit check already been carried out or is that the next step after sending in my docs? I'm a bit worried as I feel my file has a lot of footprints on it already. Thank you

Asked by Emma Frances

Hi Emma, we have already carried out a credit check and we have a provisional approval at one of our lenders.

This basically means that as long as all your documentation meets criteria including your (driving licence, proof or address and proof of income) then we will be able to give you a car loan.

Please speak with your sales advisor on 0333 247 1247 and they will guide you through the next steps. For those reading this who want to make an application for car finance you can do so here. Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 17 People

£
4 Years
Best available rate XX% APR
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Representative example: borrowing £7,500 over 4 years with a representative APR of 25.4%, an annual interest rate of 25.4% (Fixed) and a deposit of £0.00, the amount payable would be £239.77 per month, with a total cost of credit of £4,008.96 and a total amount payable of £11,508.96


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