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I Have Been Offered A Car Loan with A Huge APR! Are There Other Options?

Hi, my husband and I have been car hunting.

We found a car & put down a £100 deposit to secure the car. We arranged a trade in for ours which they took off the price of the car. This left us with a balance of £4000.

My husband applied for the finance but has been refused apart from one company with a massive APR. Would we be eligible for a car loan without a massive APR? Thanks

Asked by Michelle

Hi Michelle, thank you for your question.

Without seeing your husbands credit file i don't know whether we'll be able to beat what you have been offered already. What is the rate you have been offered and what company has offered you the deal?

We do have access to may bad credit lenders who all offer different rates of interest. It really all depends upon how high a risk they see you.

Would it be better if you applied for finance or is this not an option? If approved the £4000 won't be a problem. Have you also considered making a joint application as this can sometimes improve your chances of getting a better deal? Please make an application and once approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 14 People


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