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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Car Finance for a new Kia Rio

Hi, I have finance left on my KIA Ceed 08 plate and have £4750 to pay. I have seen a KIA Rio for £6300 that i'd like to swap my current car for. My payments are at the moment are £150 per month and my credit rating is fair. I have a budget of £200 a month and a £200 deposit. Is there any chance you can help? Thanks

Posted by Christopher Barrett on

Answer.

Hi Chris, thank you for your question. What we need to establish is the current value of your part exchange. You say you owe £4750 to the finance company but have you had any trade bids for your current car? If so, how much can you obtain for the vehicle? If you can get a valuation of circa £4000 we'll be able to help you out and get you into a Kia Rio with no issues as long as we can get you approved for the finance. Your budget and deposit amount is healthy so we shouldn't encounter any issues on that front. How is your credit history? Kind Regards, Edwin

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