How Does The Application Process Work?

Tim Carpenter
Written by Tim Carpenter

Using CarFinance 247 couldn’t be simpler. We’ll give you a decision on your finance application within minutes* and, if approved, you could be driving away in your new car within days!

Using our service is quick and easy. Plus, we consider all financial circumstances, (such as whether you are employed, self-employed, retired etc.) and whether you have an excellent credit history or need bad credit car finance. We can even help if you have been refused elsewhere.

Simply use our car finance calculator to get an indication of how much you could borrow. We don’t require a deposit, but if you do have an initial sum that you wish to put down or a vehicle to part-exchange, you can use this to reduce the total amount you are looking to borrow.

If you make an application for finance with us and this application is approved, one of our highly trained customer service specialists will be in touch to confirm the approval and to give you more information, for example on the loan amount and rate that you have been approved on.

Once we have confirmed the details of a car finance deal we have for you, and if you wish to proceed with the application, we’ll ask you for documentation (such as proof of income, ID etc.). And then, the exciting bit, you can get searching for a car!

With our hire purchase agreements, you can choose a car from any reputable dealership in the UK, so the choice really is in your hands. To give you a helping hand with your search for a car, if approved with CarFinance 247 you will also be given access to our exclusive members’ area, which features over 110,000 cars from approved dealers.

Once you have found a car, we just need you to send the details over to us while we carry out a few car and dealer checks, before giving you the thumbs up for the vehicle. Remember, we can also offer finance agreements on vans, motorbikes and motorhomes too.

We then just need to finalise the finance with the lender before you can sign your finance agreement, arrange the collection of your vehicle, and drive away happy!

Get a quote
No impact on your credit score
Rates from 6.9% APR. Representative APR 24.9%

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5 years
Total cost of credit £ 2000
Total repayment £ 2000
48 monthly
payments of
£ 245 98

Rates from 6.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £6,500 over 5 years with a representative APR of 24.9%, an annual interest rate of 24.9% (Fixed) and a deposit of £0.00, the amount payable would be £181.16 per month, with a total cost of credit of £4,369.52 and a total amount payable of £10,862.52.

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* The UK's number one online car finance broker by unique users to the website. Based on Hitwise data – 1,746,657 to CarFinance 247 vs. 666,020 for nearest competitor. January to December 2019.

96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019.

CarFinance 247 is a trading name of CarFinance 247 Limited, a credit broker and insurance intermediary, and 247 Money Group Limited (247 Money), a lender. Both companies are part of the 247 group of companies.

CarFinance 247 is authorised and regulated by the Financial Conduct Authority under reference number: 653019. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 06035525. Data Protection Registration Number Z1897658.

247 Money is authorised and regulated by the Financial Conduct Authority. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 10989530. Data Protection Registration Number ZA456831.

All finance is subject to status and income. Written quotations on request. CarFinance 247 can introduce you to a limited number of finance providers, including 247Money, based upon your credit rating and will receive commission for such introductions.

† We do not charge a fee for arranging the finance, however some of our lenders may charge a fee. Your account manager can provide more information on this

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