Rates from 8.9% APR. Representative Example: Borrow £12,000 over 5 years with a £0 deposit. Representative 19.5% APR fixed rate. Monthly payment: £304.38. Option to purchase fee £10 payable. Total cost of credit: £6,272.80. Total amount repayable: £18,272.80.
Car Finance 247 Limited is a credit broker, not a lender.
Student car finance generally works the same as any other car finance. You borrow money from a lender to cover the cost of a new or used car and then pay it back in more manageable monthly repayments. There are several types of loan available and car finance is the catch-all term used to describe them.
You’ll need to know how much you want to borrow and how long you want to borrow it for (the loan term) to find the car finance deal that’s right for you. You could also put down a deposit to reduce the total loan amount. If your loan is approved and you decide to proceed, you’ll then pay it back in monthly instalments, plus interest, for the duration of the loan term, which typically lasts between one and five years. Depending on the deal you choose, your finance might be secured against the car.
The cost of car finance is typically defined as the amount of money you borrow plus the interest and any other charges that you’ll need to pay on the loan over the repayment term.
If you choose Hire Purchase (HP) car finance, your monthly repayments will cover a portion of the car finance and your interest payment. The interest rate that you’re offered depends on a few things including your credit score and improving your score which could give you access to better rates. Credit is subject to status.
When you decide to make an enquiry for van finance with Car Finance 247, it all starts with a quote.
Once we’ve received your application, our wide panel of lenders will try and source the best deal for your needs. If you are approved in principle, your account manager will contact you to discuss the next steps and take care of all the admin and paperwork. They will also negotiate with your vehicle dealer on your behalf, making the process as easy as possible.
We could even help you find van finance with bad credit, subject to status. Whether you’ve already found the perfect van, or you would like to sort your finance first, we could help.
We look to find the best rate from our panel of lenders and will offer you the best deal that you’re eligible for. We will be paid a commission for providing our services and this commission may be a fixed amount or a percentage of the amount borrowed. The interest rate you pay is directly linked to the amount you are borrowing and your individual credit status.
