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Can you Help me Apply for Car Finance for A Mercedes ML?

Hi, I have already got a Mercedes CLC on PCP which is due to be handed back in September. I have never been late or missed a payment in the 3 years.

I ordered a brand new Mercedes ML which is due in September. The finance had apparently all been passed and was just waiting for the car to arrive. Yesterday I got a phone call to say that with the new quarters now the application had been re-assessed and that I had been declined for finance.

I'm now in a bit of a dilemma because I don't want to keep applying for finance and affect my credit score. Is there anything you can do to help? I have a 5k deposit to put in and was looking for payments to be around £600 a month mark. Many thanks, Claire

Asked by Claire Ridley

Hi Claire, it seems strange that you were approved and then declined. However, we'd love to be able to help.

With a large deposit, good monthly income and a clean car finance record in the past, we'd be pretty confident of getting you approved.

We can move pretty quickly so let me know the details asap. Once you're ready please make an application. If approved, you can choose a car from any reputable dealership in the UK and we also provide a no obligation quote. Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 13 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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