Concept Car Credit

Hi there, I still owe £3300 on my car and i am going down on Saturday, as l spoke to a sales person, from Concept Car Credit. My question is - Is it worth the journey as with a budget of £200 maximum a month i'd like a Vauxhall Zafira. Is it worth coming down from the North East and then to be told the payments are a lot higher or even possibly get refused. However, the sales rep said l have got the finance secured. Is it a wasted journey and petrol? Please advise asap!

Asked by Kevin Oliver
May 24, 2012

Hi Kevin, i am aware of Concept Car Credit as they have been in business for many years. If they said you have been approved then i don't think they would waste your time and theirs in getting you to drive down then only to be told that they can't help. Have you explained assertively over the phone that your maximum budget is £200 per month? If so you should be ok. However, if the service and / or the cars aren't up to your expectations please come back to us as we'd be able to help and get you a car of your choice. You say you owe £3300 on your part exchange - what is it worth approximately? If required please make an application with ourselves and once approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Rachel

My monthly budget is

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Rates from 8.9% APR. Representative APR 19.9%

My monthly budget is

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Rates from 8.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £10,000 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £255.50 per month, with a total cost of credit of £5,329.80 and a total amount payable of £15,030.

We look to find the best rate from our panel of lenders and offer you the best deal that you're eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.

Amount to borrow

To pay over

5 years

Assuming your credit profile is:

Total cost of credit	£ 2000
Total repayment	£ 2000

48 monthly
payments of

£ 245 98

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Rates from 9.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £25,000 over 48 months, £3,750.00 deposit, on PCP, with annual mileage of 8,000pa, and a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed), the amount payable would be £394.51 per month, an optional final payment of £7,194.33, with a total cost of credit of £9,912.36 and a total amount payable of £28,444.33.

We look to find the best product from our panel of lenders and will offer you the best deal that you’re eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.

Hire Purchase (HP) related questions

Hello Rachel, Is there a limitation on how many cars one person can have on finance at any one time?

Asked by Stacey
May 24, 2012

There’s no limit to how many cars you can have on finance at one time. The number of finance agreements that you can be approved for would depend on your individual circumstances, credit history, and affordability. It isn’t unheard of for people to have two or three car finance agreements in their name.

Finance providers must lend responsibly and make sure that borrowers don’t end up taking out loans that they can’t pay back or will leave them with no money left over to pay for essentials. Car finance is a commitment and agreements can last for several years so it’s important to be aware of the effect they might have on your financial health. You should only consider taking out more than one car loan if you can comfortably afford it.

Think about timing when you apply for a second or third car finance agreement. When you take out a new deal, you might see your credit score decrease slightly as you’re taking on a large new debt. It should recover quickly once you start paying back the loan, but a lower credit score could make it more difficult for you to secure another agreement straightaway.

Making a lot of finance applications that leave hard searches on your report can also impact your score. When you get a quote with CarFinance 247, we’ll run a soft credit check to see if we can find you an approval from one of the lenders on our panel. A hard search will only take place if you decide to proceed and take out an agreement.

Hi, I wonder if you can help me. I recently just tried to take finance out on a car and my application got declined because they wanted a guarantor. So, I have now given the dealership the guarantor details. Do you have any approximate idea of how long it

May 24, 2012

When you apply for a car loan with CarFinance 247, you’ll receive a decision in minutes. As soon as you click submit on our application form, we’ll conduct a soft credit check and look to find you an approval in principle from one of the lenders on our panel. You can pop the kettle on and have an answer before you’ve finished your tea!

Once you’ve got your quote, we’ll need to give you a call to find out some more details. This is because your approval depends on your individual circumstances, further documentation, the car you’re hoping to buy, and the lender’s criteria. Don’t worry; your account manager will be on hand to guide you through the process and answer any questions you might have.

We can move as quickly as you like. If you’re happy with the rate you’re offered, find a car you like and upload all your documents straightaway, you could be driving away within days!

Been refused a car loan elsewhere? We could still help. At CarFinance 247, we work with a panel of lenders, which means we can look to find finance options for people with a variety of circumstances including those with bad credit. We even work with lenders that can provide loans for people who are self-employed, claiming benefits, or have had defaults, a CCJ or an IVA in the past.

Hello, I've just asked an insurance company if I purchase a car on finance and I'm the registered keeper can my son be named driver. This was the reply. Dear Mrs Cart, If you are the owner and registered keeper of the vehicle we will not cover this vehic

May 24, 2012

When you buy a car on finance, it must be insured before you hit the road. If your name is on the finance agreement and you’re the car’s registered keeper, then the insurance policy must also be in your name. If you’ll be sharing the vehicle then you can have additional drivers on your policy, but keep in mind that named drivers can affect the amount you pay each month for your premiums.

In the UK, the minimum level of insurance that you can have legally is third-party cover. This means you’ll be covered if you have an accident that damages or injures any other person, vehicle, animal, or property.

If you’d like more comprehensive coverage, you can find insurance policies that include:

Theft of personal belongings
Windscreen damage
Lost or stolen keys
Cost of repairs
Rescue costs if you can’t move due to an accident

There are many factors that can affect the cost of your insurance including where you keep your car during the day and overnight, how you use it, how far you drive, how careful you are as a driver, and how you choose to pay your premiums.

GAP insurance is a different type of policy that’s designed to cover the gap between what your standard car insurance would pay out if the vehicle’s written off or stolen and either how much you paid or still owe for you car.

Find out more about GAP insurance and how it works.

Hi, I'm wanting to get a car on Hire purchase but don't want to go ahead with it if there's a possibility I could get declined. My credit score is 898 and I don't have any late payments or any ccj's. I recently applied for a personal loan of £2000 and got

Asked by Leanne Skolosdra
May 24, 2012

Hi Leanne, from what you have said we'd may be able to get you approved for hire purchase as you have a good credit score, no missed payments and some current active credit accounts. I'm assuming that you have a UK licence and can prove your income if requested . 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

Hi Rachel, I'm after a car loan very quickly. Can you give me an instant decision if i apply for car finance today? Please hurry back, Y!

Asked by Yukko
May 24, 2012

Hi Yukko, thank you for using the Q&A.

When we receive applications, we'll take a look at them in detail to ensure we are finding the best deal for individual circumstances, with our aim being to get a decision back to our customers within 1 hour.

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

My son wants to buy a new car, but he only works for an agency and cannot get finance. The garage have told him to get me, his father, to take out the agreement in my name, but with his bank details on it. I understand that I will be liable if things go w

May 24, 2012

No, unfortunately you can't apply for finance on someone else’s behalf. There are lenders on our panel that ask that the person signing the agreement must be the registered owner/keeper and main driver of the car too.

If your son has bad credit or no credit history, you may be able to make a joint application. However, if your son would like to take out a finance agreement in his own name but would like your support during the car finance process, he can give you authorisation to act on his behalf, he just needs to let his account manager know.

Hi, I've been approved with Concept and Getmecarfinance, I've seen a car I want at another dealer but I've been told I can only get finance for their own vehicles which I've done some research and doesn't sound to good for me to get into,is there anything

Asked by Elaine
May 24, 2012

Hi Elaine, thank you for your question. If approved with us, you are welcome to get your vehicle from any reputable car dealership in the UK, so we may be able to help you! 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

Hi, I just wondered if you used concept car credit? I have heard some very bad things about them and have just been today found a car and paid £100 deposit and got home and have gone though my paper work (I'm going back to get the car on Saturday) and the

Asked by Anna Mangan
May 24, 2012

Hi Anna, Concept Car Credit are slightly different to us even though we do specialise in offering car finance to people across the UK. The benefit of our service is that you can choose any car from any local dealer when approved with us. As Concept have you approved i'm certain we can get you approved too (due to having a similar lending panel) and you may be able to get a cheaper car from a local dealer perhaps. We'd love to help and you can back out if you want to (it's not too late). 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

Please can you explain how hire purchase works for me? I'm struggling to understand the difference between hire purchase, leasing & contract hire. An explanation would help me decide which route to take. I think it's HP i need but not 100%.

Asked by Russell Armitage
May 24, 2012

Hi Russell, a great question and thanks for using the Q&A. Hire Purchase or "HP" as it's known within the trade is simply a legal contract/agreement where an individual agrees to pay for their goods (in this case a car) over an agreed period of time. Hire purchase was founded in the UK and is now found in many countries worldwide. Hire Purchase is a great option for people with (or without) a deposit but not the full amount for the goods in question. In effect "HP" allows people to hire a car for a period of 12 to 60 months and when all agreed monthly payments have been made you then own the car legally as the contract has been terminated/settled. To clarify, the finance company is the legal owner of the car until all payments have been made. When the hire purchase agreement is signed initially an interest rate will be set in place for the term of the agreement and an installment plan/payment put in place. It is imperative that you keep up to date with your monthly payments otherwise it may affect your credit record and in the worst cases the finance company can repossess the vehicle. Contract Hire & Car Leasing on the other hand is mainly used by businesses but can be used by individuals. Leasing is incredibly simple - you can lease a brand new car (without any initial cash outlay) for a period of 2, 3 or 4 years and at the end of the agreement you just hand your car back to the leasing company for them to dispose of the vehicle. With new cars leasing can be a better option to keep the monthly repayments down but HP has a great deal of benefits too. I hope this helps clear your question up a little and if you're interested 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, Rachel

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CarFinance 247 Ltd.,
Universal Square,
Devonshire Street North,
Manchester,
M12 6JH,

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* The UK's largest online car finance broker by unique users to the website. Based on Similar Web data – 1,137,647 to CarFinance 247 vs. 753,819 for nearest competitor. January to June 2023.

CarFinance 247 is a trading name of CarFinance 247 Limited. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. (Registration Number 06035525).

CarFinance 247 is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 653019). CarFinance 247 is registered with the ICO (Registration Number Z1897658).

Finance is subject to status and is only available to UK residents aged 18 and over. Written quotations are available on request.

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