Help & Advice

£3000 Car Loan Over 36 Months

Hi, I have seen a car I like for £5000 and have £2000 deposit, so would need a loan of £3000 from you. My credit score is 725 and I earn about £650 a month part time. Is it likely I could apply for that much and what would my monthly repayment be approx? I'd like it over 36 months or longer. Thanks

Brendan


Answer

Hi Brendan, apologies for the delayed response. I hope you're well. With an average credit score and an income of £650 i am confident that we can get you approved for £3000 as you have a large deposit. As long as you have a UK licence, are on the electoral roll and can prove your income we should be able to gain an acceptance. £3000 over 36 months (with average credit) would cost you circa £125 p/month. Over 48 months it would be approx £90 p/month. Kind Regards, Rachel

Answer correct as of September 2016

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Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

Representative example:

Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83.

Rates may differ as they are dependent on individual circumstances. Subject to status.

CarFinance 247 is a broker and not a lender

We compare products from 18 of the UK's top lenders to get you the best deal.

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Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

Representative example:

Borrowing £7,500 over 4 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83.

Rates may differ as they are dependent on individual circumstances. Subject to status.

CarFinance 247 is a broker and not a lender

We compare products from 18 of the UK's top lenders to get you the best deal.