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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.

Can i get a short term car finance deal for £3000 with no early redemption charges?

Hi, I am selling my car, but have already put a small deposit to secure the new one I am buying. I just need a loan of £3000 over a short term, with no early redemption charges or arrangement fees. Can you help?

Posted by Allan Smithson on

Answer.

Hi Allan, the shortest term we could lend you £3000 over is 12 months. It would also depend upon which lender we can get you approved with as to whether you'd get any early redemption charges or arrangement fees.

Some lenders have these charges and some don't. In any event the agreement can be settled early if you wish and just so you know we can help people with good, fair and poor credit scores. Please make an application and once approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Edwin

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Question.

Hiya, I'm wondering if you can advise me. I am looking to get finance for a car in the region of £3,000. I was discharged from bankruptcy 2 years ago (sequestration). I have been employed full time for 3 months, I rent a property that I've currently lived in less than 1 month and although my wages are paid weekly. I get paid in cash rather than into a bank account. (although I have wage slips to prove the amounts). Are you able to assist me?

Posted by Martin Cahill on

Answer.

Hi Martin, as you get wage slips they will suffice for proof of income. Would you have a deposit at all as that would help your chances of being approved? Are you on the electoral roll and do you have a full UK licence? If so, we stand a chance but nothing can be guaranteed until we see your credit profile. Have a great day. Edwin

Posted by on

Question.

I'm self employed and looking to get a car loan for £3000. I used your free credit check service and it said I have an average credit rating. Would I definitely get accepted? If so, how much would I be looking at repaying over 24 months?

Posted by Michael on

Answer.

Hi Michael, borrowing £3000 over 2 years you'd be looking to pay £1000 interest approximately with an average credit rating. As you're self employed can you prove your income with bank statements etc and would you have any form of deposit as this would strengthen your application.

Posted by on

Question.

Hi, i'm looking to borrow about £3000 for a new car. My credit rating is only fair as i haven't got any credit cards or loans, and i have a car to part exchange. I have applied for loans from other companies but been refused. The only thing that came up on a credit check is that as i've recently moved house and i'm not on the electoral roll at the local council end. I am but have been told this info won't get to the credit agencies until the new list goes out in October! I need to get a new car soon. What is the likelihood of me getting a loan? And what would the interest rate be like? Thanks

Posted by Claire on

Answer.

Hi Claire, as you've found out, electoral register history is important but hopefully we can get you approved before October. Do you have a deposit and are you full time employed? We'd potentially be able to get you £5000 and the rates would vary between 14% and 20% depending upon which lender we can get you approved with. KR, Edwin

Posted by on

Question.

I have a 786 credit score with credit expert but 2 days ago I was refused for a car loan. I don't know what I can do. I would like get £3000 to buy a second hand car. My income is around £1500 after tax. Thanks

Posted by Daniel on

Answer.

Hi Daniel, your income seems decent and your credit score seems fair so i'm confident we could get you a car loan for £3000. Can you prove your income, do you have a deposit and are you on the electoral register at your current address? Edwin

Posted by on

Question.

Hi Edwin, Yes, I can prove my income until £1250/£1300 the rest are tips but every week minimum is £60 max £100. Yes, I have £500 as a deposit and I am on the electoral register in my current address. Thanks

Posted by Daniel on

Answer.

Great news Daniel, please make an application on our site asap and let me know the reference number. Edwin

Posted by on

Question.

Hi Edwin, this is the reference number 201504. I hope to hear from you soon. Thanks

Posted by Daniel on

Answer.

You shall do - thanks Daniel. We'll aim to get a response to you in an hour. Edwin

Posted by on

Question.

Hi Edwin, We are looking to purchase a car for around £3000. We will have £1000 deposit form insurance on our previous car. However we need finance and don't have a great rating and we have a ccj each. We both have credit cards and never default on them. Both in full time work with good wage. How will we stand if we apply? There are so many companies like yours but we don't want to apply to them all as this will affect our already underrated credit history. Thankyou.

Posted by Teressa S on

Answer.

Hi Teressa, as you have a £1000 deposit and are only looking for £3000 i'm confident that we can get you approved as you have some current clean credit in the credit card that you have. Please make a joint application with your partner and we'll go from there. Please provide me with your reference number after you have applied :-)

Posted by on

Question.

Hi, i have recently checked my experian credit report and it's 723 (fair). I do have 3 delinquent accounts showing but have now paid off one and the other is £1400 to tmobile and £560 to barclays (both are a couple of years old and i'm now on £25k and would like £3000 on finance). What are my chances?

Posted by Peter on

Answer.

Hi Peter, as you have a good salary and are getting on top of your debts i'm pretty sure we can get you the £3000 that you require. Please apply on our site when you're ready and we'll hopefully have you approved swiftly. If approved you can choose a car from our stocklist of from a dealer of your choice. Kind Regards, Edwin

Posted by on

Question.

I'm after a £2500 - £3000 loan for a car and some first payment of insurance. I was turned down by my bank. I'm 19, i have had a full time job for 1 and a half years as a electrical engineer apprentice and i'm currently earning £14400 a year before tax. My next pay rise is next september and that will take me to nearly £19000, can you advise me on how to get a loan? Ps: I have moved out and my outgoings are about £600 a month.

Posted by Connor on

Answer.

Hi Connor, we'd love to help and we'll try our best. Your age does cause some concerns but as you're only after £3000 approx we should be able to help. Just a few questions. You mention you have moved out. Are you on the electoral roll at your current address as this is important and do you have any current active clean credit registered at that address (credit card, store card, contract mobile phone, loan etc)? Regards, Edwin

Posted by on

Question.

I'm looking for a poor credit loan but don't want a guarantor loan (£3000/3500) can you help?

Posted by Derek on

Answer.

Hi Derek, we'll certainly try and help and as you're not after a huge amount i'm confident we can possibly help as we specialise in helping individuals with a poor credit history. Please apply when you feel ready. Edwin

Posted by on

Question.

Can i get car finance for £3000 with my poor credit rating but i don't want anything to do with Welcome Finance as i had a bad experience with them hence my poor credit. I would pay it over 2 years but i have only been at this address for 9 months but been in Scotland for 20 years. Can you find me a good deal over this period. Can you send me your reply to my email address as i am having problems with the site you send as it is saying it is closed down. Thank you

Posted by Jed on

Answer.

Hi Jed, we may be able to get you the £3000 that you need and don't worry we won't place you with Welcome Car Finance as they are no longer trading. Please make an application on our website (Carfinance247.co.uk) and we'll aim to have an approval with you today if we can get you accepted. It will all depend upon your credit score though. Regards, Edwin

Posted by on

Question.

Hi there, I have just checked my latest credit score across referencing 2 credit agencies. Equifax is coming out at a score of 195 which is pretty low I agree. I mainly defaulted on payments when I was out of work for a few years. I have now been working since March and earn approx £1300 after tax per month. I have a few ccjs on my file although 2 are due to expire next year. Also the total amount of credit I have left outstanding is £5000 to creditors. I'm looking for a figure of £3000 to borrow for a used car and a small deposit may be possible. What are the likely chances of finding me a lender? Many thanks.

Posted by Lee S on

Answer.

Hi lee, we should be able to help get you approved for £3000 as long as you're on the electoral roll and have some current active clean credit. Is this the case? Regards, Edwin

Posted by on

Question.

Hi Edwin, in response to your question, I have 2 sources of clean credit currently on my credit file. I'm not on the electoral register for my home, even though I have lived here for 5 years, I don't think it is up to date so I will need to get that sorted. However I do have all payslips and proof of income for the past 9 months. Regards, Lee

Posted by Lee S on

Answer.

Thanks Lee, get yourself on the electoral register and then apply. We shouldn't have any issues then :-) Have a good evening. Edwin

Posted by on

Question.

Hi, I am planning on purchasing a car and looking for something around £3000. I have a couple of questions before proceeding with the application.

Can i choose a car from anywhere and you will finance it or do i have to choose from your own dealer? Can you provide me roughly what my monthly payments would be if i have poor credit? I am in permanent employment and a British citizen. Kind Regards, Vin

Posted by Vin on

Answer.

Hi Vin, £3000 shouldn't be an issue and yes, you can choose a car from any local reputable dealer to yourself.

£3000 over 48 months with poor credit will set you back £100 per month approx. Please make an application and once approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Edwin

Posted by on

Question.

My wife and I have already saved half the estimated price of a car we want which a 2005 Audi A4. We need to know where we car get a short term car loan that we intend to pay off in 12 months max. Can you help?

Posted by Daniel on

Answer.

Hi Daniel. It will depend upon your credit profile. Do you have any idea what it is like? Here at CF247 we do deal with most of the lenders currently on the market ( including those who will lend to customers with previous bad credit) and do manage to secure the majority of our customers an approval. So when you are ready please put an application through so we can look to get you into that car asap! Edwin

Posted by on

Question.

Hi, I have an Experian credit score of 673. Is this good enough to secure a loan for £3000? The car I'm looking at is around £6000 but I have £3000 as deposit.

Posted by Sean on

Answer.

Hi Sean, as you have a fair credit score and a large £3000 deposit i'm very confident we can get you finance for the further £3000 that you need.

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

Posted by on

Question.

Another thing I forgot to mention is that I am already paying off another car finance, I no longer have the car.

Will I be allowed a new finance while still paying off my old one?

Posted by Sean on

Answer.

Hi Sean, yes - this is possible as long as you can afford both payments. Edwin

Posted by on

Question.

Unfortunately I won't have the £3000 deposit until the start of next month, when should I apply?

Posted by Sean on

Answer.

Hi Sean, end of this month would be fine :-)

Posted by on

Question.

Thanks Edwin, you've been really helpful and I will recommend you to my friends

Posted by Sean on

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