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Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
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Edwin Miles. Underwriting Manager

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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.

I have yes car credit with british credit trust. I have £5k left to pay - can i get a new car?

Hello, I have my current car finance with British Credit Trust and have about £5k left to pay from an original £15k loan.

I want to upgrade my car so can you take over my current agreement or finance me on a new car? Can you help?

Posted by Richard on


Hi Richard, we'd love to help you out and thank you for using our Q&A.

Any dealer can take your current car off you and put you into a new car and we can provide you with a new car finance agreement with no issues. How is your credit rating nowadays - Good or Bad?

We used to deal with British credit trust and we could guide you through settling the existing £5k finance for you if you decide to part ex your car. What is your car and how much is it roughly worth?

The only stumbling block we'd encounter is if you were in negative equity (for example you owe £5k but your car is worth £3k) on your current deal. Even then if you had some cash to put into the deal i'd be confident we;d still be able to help.

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

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I currently have a car loan with BCT which has never been defaulted on but I know my credit score is poorish but too worried to do a loan app. My gear box is going on my current car and the loan is not paid off until April 13; what are my options?

Posted by Cheryl on


Hi Cheryl, i wouldn't be too concerned about applying to be honest. As you have a clean hire purchase agreement which is nearly complete i'm more than confident we could get you approved for another car loan. You can use your current car as part exchange and you may well have some equity in the vehicle to use as a deposit. Kind Regards, Edwin

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Hello, I currently have a car on finance with The car finance company and am looking to change my car as the monthly payments are to high.

Unfortunately due to financial reasons I have no money to put in. Would you still be able to help me even with my poor credit rating?

Posted by Colin Bosenavulagi on


Hi Colin, thank you for your question.

We'd love to be able to help but we need to understand what your car is currently worth (trade value) and what you owe on finance to "The Car Finance Company".

We can help people with poor credit but we can't guarantee an approval. However, please make an application and once approved you can choose a car from any dealer and we also provide a no obligation quote. Kind Regards, Edwin

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