Help & Advice

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?

Stacey


Answer

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

Answer correct as of September 2016

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Hitatchi

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender

More related questions

I just got 2 cars - one for my wife and one for me. I am trying to get another car. Do you think this is possible? My credit is kind of bad.

Answer

Hi Jose, as long as you can show that you can afford the repayments you'll be fine. Lenders may think you're over exposed however if you have too many live agreements. Please make an application and we'll take a look. Kind Regards, Rachel

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Rachel Wilson, Underwriting manager

Asset 1 Just get in touch,

we'll try to help Asset 2

Rachel Wilson, Underwriting Manager

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

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

Hitatchi

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender