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I Have Recently Taken Out Car Finance but Need a Bigger Car. Can I Change?

Hi Rachel, i have recently taken out car finance with barclays finance but i now need a bigger car. Is there any way i can change it without paying off the full amount?

Asked by Bethan Davies

Hi Bethan, we'd need to establish whether the finance you have from Barclays is a personal loan or whether it's secured against the vehicle.

If it is a personal loan you could sell your current vehicle with no problems (as the finance isn't associated with the vehicle) and pay Barclays back an amount that you are comfortable with. You could also keep the existing arrangement in place with Barclays if you wished. You may have to check this though.

You could then apply for a new finance agreement on a bigger car with us and we'd provide a no obligation quote and you could choose a car from any dealer. So the answer to your question is yes but you'd have to check what type of loan agreement you have with Barclays first. Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 13 People


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