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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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I've recently taken out car finance with Barclays but need a bigger car. Can i change?

Hi Edwin, i have recently taken out car finance with barclays finance but i now need a bigger car. Is there any way i can change it without paying off the full amount?

Posted by Bethan Davies on

Answer.

Hi Bethan, we'd need to establish whether the finance you have from Barclays is a personal loan or whether it's secured against the vehicle.

If it is a personal loan you could sell your current vehicle with no problems (as the finance isn't associated with the vehicle) and pay Barclays back an amount that you are comfortable with. You could also keep the existing arrangement in place with Barclays if you wished. You may have to check this though.

You could then apply for a new finance agreement on a bigger car with us and we'd provide a no obligation quote and you could choose a car from any dealer. So the answer to your question is yes but you'd have to check what type of loan agreement you have with Barclays first. Kind Regards, Edwin

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Question.

I have Barclays car finance and its not a personal loan. Could I still change my car?

Posted by Stephanie Haigh on

Answer.

Hi Stephanie, thank you for your question.

Even though you have finance associated with your car you can still swap it. All you need to do is part exchange the car in at a dealership where you want to purchase a newer car. The dealer will give you a price for your current car and hopefully it is more that what you owe Barclays. The dealer will then settle the finance and use any equity as a deposit towards a newer vehicle.

We can usually beat dealer rates and once approved with us we provide a no obligation quote and you can choose a car from any dealer. Please make an application when you are ready and we'll help guide you through the process. Kind Regards, Edwin

Posted by on

Question.

I have recently arranged car finance with a dealer who used Barclays as my loan provider it is a personal Loan (no attachment with the car dealer) I am in within the 14 day period.

The day after picking the car I had a small issue with the car which I phoned the dealer to resolve. They were extremely rude and unhelpful so I have completely lost faith in them and wish to give the car back and take my business else where, what are my rights I'm cancelling with Barclays and the dealer will I be charged for this please help? Many thanks

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