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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Can i hand my car back to Welcome Car Finance

I have car finance with Welcome finance & i have 10 months left on the finance agreement. I have never missed a payment, would i be able to apply for finance with a lower APR now?

Posted by Tim on


Hi Tim, If you say you have paid your Welcome car finance agreement on time each month and the rest of your credit is in good condition then i'm confident we can get you a better rate of interest.

Not only that but, the supplying car dealer (of your new car) can take your part exchange off you and settle the existing finance with Welcome directly. If your car is worth more than you owe to Welcome Finance then you can use this difference as a deposit towards a newer car. What car are you looking at and what's your monthly budget?

Once approved with us we provide a no obligation quote and you can choose a newer car from any dealer. Please apply when you get a moment. Many Thanks, Edwin

Posted by on

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Hi Edwin, i also have a car finance agreement with Welcome and i have around 12 months left to pay. I have made all my payments on time and my credit has improved dramatically since i bought my car from Welcome Car Finance. I think it's time for a change. Would you be able to help?

Posted by Stewart on


Hi Stewart, thanks for your question. After having a quick read the answer is most certainly YES. As long as you've kept up to date with your current payments then we'd be able to get you into a new car no problem. We can even take your current car in part exchange and settle your current agreement with Welcome Car Finance for you. We'd obviously have to see your credit profile before we could give you a definite answer but i'm confident as we have many lenders on our panel and we've helped many customers who have been with Welcome Car Finance in the past. I hope this helps and i look forward to receiving your application. Kind regards, Edwin

Posted by on


Hi, can I hand back my car after I have paid half way through my contract and never missed a payment?

Posted by Denise Guan on


Hi Denise, yes - this is possible. Call you finance company and state that you wish to "Voluntary terminate" your agreement. Please make sure you read through all of the T's & C's before proceeding as every finance company is different and you may get hit with some charges depending upon the condition of the car. Edwin

Posted by on


Hi there, I have a car on "HP" with Welcome originally, then it was passed to Cattles (parent company) and due to a change in circumstances I was unable to keep up with the payments.

I'm not sure of how much was paid but i'm quite sure that i wasn't half way through. I am being chased for the money and have talked to the company that contacted me lately but they said the account has been closed, the contact number they gave me was in fact their own number!

Anyway, the situation I am in now is I have a car that I cannot afford to run and I'm not sure what I can do because as far as I am aware I can't sell a car that has finance on it. Is that correct? I also have nowhere to store the car, can you advise me please? Thank you.

Posted by Gareth J on


Hi Gareth, this indeed seems very strange! The contact you had at Welcome Finance (Cattles) said your account has been closed? If that's the case it is great news.

All you need to do is conduct a HPI check on your car and that will tell you if Welcome / Cattles still have a finance interest on the vehicle. If they don't you are free to sell it without any problems. This isn't to say that Cattles couldn't still come after you for the money you owe them however, they can't take the car (if there's no finance attached).

Posted by on


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Posted by Kealy Beaumont on

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