Help & Advice

Can I Finance More Than One Car At a Time?

Hi Ed, I currently have finance on a car, about £25k (family jeep), though I am looking to finance another car for £15k (my own personal sports car). I want to put down about £1k deposit. I earn about £60k per annum - will I be accepted for a 2nd agreement?

I also want to buy a car for my niece, a small Vauxhall Corsa for about £5k (which I can pay for outright) but it would be easier if i financed it? How many cars can be financed at a time?

Daniel J


Answer

Hi Daniel, as long as your credit history is in good shape and you can prove your income (if requested) to show that you can afford both cars then you can finance 2 or even 3 cars at the same time.

Please make an application and once 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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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.

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More related questions

I am being told that I cannot finance 3 vehicles without a co-signor. The 3rd vehicle is for my daughter.

Answer

Hi Janet, as long as your credit history stacks up and you can afford a 3rd car then there's no reason why we wouldn't be able to finance a 3rd car for you. Kind Regards, Rachel

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Rachel Wilson, Underwriting manager

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Rachel Wilson, Underwriting Manager

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