Skip to content

Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
image description

Edwin Miles. Underwriting Manager

Car Finance Calculator

Calculate your loan immediately

close

How can I help you?

Do you have a question about Carfinance247 or its services? If so, please complete the form below for a response within 1 working hours. I have over 7 years experience working for Carfinance247 and have the responsibility to answer all questions asked.

What are my chances of being approved for car finance?

Hi Edwin, what are the chances of me being accepted for car finance? I am 29 and i am full time employed earning £35000 a year.

I have a fair credit rating with Experian (740 i think). I rent a room in a housing association flat, i have lived here for a year and am on the electoral roll.

I am looking to source £6000 and i have a £1000 deposit. I don't want to leave a mark on my credit profile just in case i am refused so any advice would be much appreciated! Kind regards, Damien

Posted by Damien Williams on

Answer.

Hi Damien, thank you very much for using our Q&A.

If all of what you said is true and your credit score is around the 720 mark then there's a big possibility of us getting you approved for car finance.

This is because you're employed, on the electoral roll and have a fair credit score. As long as you have a valid full UK driving licence then we should be fine. The fact that you have a large deposit also helps matters dramatically.

We can't guarantee an acceptance but from what you have said i am very confident we can get you approved. Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on
5/5

Rate Edwin’s advice.

image description

Question.

I have a credit card with a 200 pound limit I also have a 1000 pound overdraft with my bank which I rarely use.

Posted by Damien on

Answer.

Thanks Damien, so you have no other store cards, personal loans or hire purchase agreements?

Posted by on

Question.

No, none whatsoever apart from a mobile phone and virgin media at home. I use the credit card once a month and pay off full amount every month.

Posted by Damien on

Answer.

Ah - ok, so you have a contract mobile phone too? If so, that also helps build your credit profile. Have you applied anywhere else online and if so, which companies and what was the outcome?

Posted by on

Question.

Yes, it is a mobile contract everything gets paid on time in full every month.

Posted by Damien on

Answer.

Hi Damien, that's good news. Without running a credit check i can't guarantee anything as i have said before but i am very confident of getting you approved. Please make an application on our website and we'll be back with a decision this afternoon. Kind Regards, Edwin

Posted by on

Question.

Hi there, I'm looking to secure credit for a new car. Unfortunately, I had an ill advised youth and ran up debt about 4 years ago now, which has affected my score. I now earn a salary of £19k in a good job with a lot of prospects, my credit score is 548. Please could you advise the likelihood of securing credit?Many thanks, Olivia

Posted by Olivia on

Answer.

Hi Olivia, we specialise in helping people like yourself so i'm confident we can do something as your credit score isn't the worst i've seen. You earn a good wage which is great but do you have a deposit or part exchange and are you on the electoral roll?

Posted by on

Question.

Good afternoon. I'm looking for a used car on finance, around £4-5k mark. I can have a deposit between £500 and £1000. I currently work full time, earn £20,478 before tax annually. I lived with my parents for 18 years at the same address, and now live with my partner and his parents, and have been here Since Feb 2013. I have just changed my address on the electoral roll too. I have had a few jobs though, as they have been fixed term, with 3 small periods of unemployment in the last 3 years. What are my chances of getting finance? My credit score is about 670? I think? I pay off a mobile phone contract every month, my £500 creditcard only has £150 left. I've not missed any payments. Thankyou!

Posted by Lucia Richardson on

Answer.

Hi Lucia, as you have a decent sized deposit, a good income and a fair credit score i'm very confident we can get you approved for car finance. The fact you have some current clean credit and are on the electoral roll helps too. Please apply when you can. Edwin

Posted by on

Question.

Hi, what are the chances of me getting a credit for a car? I'm in full employment and earning circa £18000 a year.

Unfortunately, a few years back I ran up a debt and I'm now with a debt advice charity to pay off my debts. I have 2 mobile phone contracts and own a house with a mortgage.

I don't have much of deposit, perhaps £200 and am looking to borrow around £2500. Thanks in advance for your reply.

Posted by Gosia Orzel -Bannist on

Answer.

Hi Gosia, thank you for your question.

As you have some recent clean credit, are employed with a decent wage and have a deposit i'm confident we can help as we do have lenders that help individuals in debt management programmes.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

Hi, I'm looking to get a car on finance between £4-6k. I will pay £500-600 deposit, however the only bills I pay is direct debits to things like netflix etc.

I earn about £15,000 a year and am on the electoral role. Unfortunately I ran into some debt, but only got £200 to pay off though. Would i get accepted?

Posted by Nicolle on

Answer.

Hi Nicolle, thank you for your question.

As you have a good income, a decent deposit and are on the electoral roll we have a good chance of getting you approved. The only slight concern is your lack of current credit. Things like Netflix don't appear on your credit rating unfortunately.

However, please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

Hi Edwin, what are the chances of me being accepted for car finance? I am 27 and I am full time employed earning £40000 a year.

I have a excellent credit rating with Experian (965). I am currently renting a house, I have lived here for six months and am on the electoral roll.

I am looking to source £15000 and I have a £2500 deposit. I want to get a new car. What are my chances of getting approved for a finance? Any advice will be helpful....

Posted by Pratik Bauskar on

Answer.

Hi Pratik, thank you for your question.

As long as you have 3 years UK address history i think we have a very good chance indeed of getting you accepted. You have a good income, are on the electoral roll, have a large deposit and a good credit score. For these reasons i'm extremely confident.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

Hi I have a credit score or 886 (good on Experian). I am after a loan for approx £7000 as I have £2800 to put towards a car. I work part time and I am also a university student. I have found a car I love but worried about the payments back in case my score isn't good enough? It used to be poor due to my mother taking loans out in my name, I've managed to get all that wiped and do have history but I only have a 1000 credit card I am also on the electoral roll?

Posted by Jade person on

Answer.

Dear Jade, thank you for your question.

You have a deposit which is great and should help us find you an approval.

Since you only work part-time, there is a possibility that one of our lenders will request a guarantor. If so the guarantor needs to have lived in the UK for 3+ years, be a home owner or private tenant, and have excellent credit.

With regards to the payments, your score isn't too bad so we would try to find you the best possible deal.

Please make an application when you're ready and if approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

Hey Edwin, What chances do I have for me being accepted for car finance? I am 26, full time self employment for 3 years and earning £15000 a year after tax. I have lived in a rented flat for 2 and half years. I am aiming to get £5000 with a deposit of £500 to £1000. Please help and advise.

Posted by Luke Way on

Answer.

Hi Luke, thank you for your question.

Since you have a deposit, and are employed full time, we would certainly try our best to help you!

Please make an application when you're ready and if approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

This comment is awaiting moderation.

Posted by Samad kauser on

Do you have a question on this topic?

Ask a question or leave a comment on this topic below

Back to Car Finance Expert Q&A

Back to top