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How many cars can you have on finance at one time?

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

Asked by Stacey

Hi Stacey, this would all depend upon your credit score and whether the finance company thinks you'd be over committed if they gave you a new car loan. It isn't uncommon for people to have 2 or even 3 credit agreements in their name. How many finance agreements do you need? Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 19 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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