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Car Finance Expert Q&A

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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 bad credit & need car finance. I also have a part exchange. Can you help?

Hello, I have a 2004 Vauxhall Corsa that i want to part ex which has some minor damage but only 33000 miles on the clock. 5 years ago my partner left me with considerable debt which I am still repaying but I am up to date with all current payments. Can you help me get finance?

Posted by Lesley on

Answer.

Hi Lesley, thank you very much for your question and i sympathise with your situation.

Yes of course we'd love to help you obtain car finance and part exchanging your Vauxhall Corsa isn't an issue at all - do you know whether there is any finance outstanding on the car? If not, you can use this as a deposit towards a newer car.

We help thousands of customers each year obtain car finance even though they have a bad credit history so we'll do our best to get you approved and into a new car asap. When approved we provide a no obligation quote and you can choose a car from any dealer nationwide. Please apply when you're ready. Kind Regards, Edwin

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Question.

I want a new car. I have roughly £2000 still to pay on my current car. Would you trade it in for newer vehicle? At the moment i have a 2003 toyota avensis D4 td 67,000 mls on clock which is in excellent condition. I'm based in Scotland.

Posted by Ian Parkin on

Answer.

Hi Ian, yes, we can take your Toyota Avensis in part exchange and settle off the existing finance. How much is the Avensis worth roughly? Please make an application bad credit car finance today and we'll see if we can get you approved at one of our lenders. Thanks, Edwin

Posted by on

Question.

Hello my name is silent rafal credit but I wanted to buy on credit used car passat 2005/2006 brand or can I count on getting credit for this car and if I give in the settlement of 2001, my Passat 1.9TDI very please help waiting for reply thanks

Posted by Rafal on

Answer.

Hi Mr Rafal, please make an application for car finance with bad credit and we'll see if we can get you accepted. If you're approved we can take your Passat part exchange off you and get you into a 2006 VW Passat no problem. Kind Regards, Edwin

Posted by on

Question.

I can't get car finance & keep getting refused. Can you help?

Posted by Kevin Robertson on

Question.

Hi, Myself and my hubby both got into financial difficulties about 7 years ago and went bankrupt. We currently have little debt and we are both bringing in a wage. I have a Fiat Stilo 53 which i purchased not long ago for £2500. I would like to obtain finance on a car worth approx £6-8000, and do a p/e with my fiat. Do you think this would be possible? I am earning but a full time student too, and my husband is in full time employment. Thanks

Posted by Debbie Guyton on

Answer.

Hi Kevin, we'll certainly try and help you obtain bad credit car finance. We have many specialist lenders so hopefully one of them will be able to help. How many places have you applied at? What did they say when you were declined? Did they give you a reason? Have you seen a copy of your credit report? Kind Regards, Edwin

Posted by on

Answer.

Hi Debbie, please make a joint application with your husband and we'll see what we can do to help. We can take your part exchange off you no problem. Is there any outstanding finance? How long ago did you come out of your bankrupcy? If we can gte you approved and you can prove your income (payslips / bank stats) then the £6k - £8k shoudln't be a problem. Kind Regards, Edwin

Posted by on

Question.

Thank you for getting back to me so quickly. We were declared B/R about 7 years ago, and when my husband checked his credit report there was nothing on there, and his score is Fair. I am waiting for my pin to come through so i can check mine. My Fiat was paid in full, but i am reluctant to let it go for next to nothing given what i paid tbh. Would we have to apply for finance and wait until the last minute to know what we would be given for p/e and what kind of interest we would be paying?

Posted by Debbie Guyton on

Answer.

Hi Debbie, if your bankrupcy was more than 5 years ago then you're in the clear. Lenders go back 5 years as a general rule when looking at your credit profile. If your credit records says fair then we should be able to offer rates between 12-15%. The next step is to apply with us and to see if we can get you approved. Once you're approved we'll discuss income & budget and the car you want. You may want to wait until you see your credit profile before applying so i'll leave it to you. Kind Regards, Edwin

Posted by on

Question.

I have a Kia which I still owe 18,000 on but it keeps breaking down in the winter, so I need a new car asap as I need my car for work and taking kids to school. My credit rating is bad!

Posted by Tanya Shaw on

Answer.

Hi Tanya, we should be able to help but it alldepends upon how bad your credit actually is. If you're approved we can take your part ex off you and get you into a smaller car but we'd have to value your Kia. You say you owe £18,000 on it - how long have you had it for and what's it currently worth (roughly)? Edwin

Posted by on

Question.

Hi there, Since my previous enquiry - 12th August 2011 I've been looking at various cars - just looking not doing anything about it - however yesterday I went to Carcraft and there was a car there I particularly liked so I made some enquiries with them. They did a credit search and said no, my question now is would I be wasting yours and my time by looking around elsewhere - namely with yourselves as your advert claims you can help almost anyone including people who have been turned down. The car was a 58 plate Corsa with 12,000 miles on the clock, they wanted £6695 for it, they offered me £1000 for my 04 plate Corsa in part exchange and took (and still have) £300 in cash from me. They estimated payments of £35.00 per week over 5 years which was fine and well within my budget. There will obviously be this refusal marked against my credit file so again a black mark. I did have problems in the past, as I explained in my original email, I don't want to do anything further to blemish my credit status but would appreciate some professional advice which I suppose is the reason for this email.

Posted by Lesley Jowsey on

Answer.

Hi Lesley, thanks for using our Q&A and going into great depths to explain your situation. We do our best to try and get everyone accepted for car finance but as you'll know it's now always possible. Before applying let's just check a few things. Are you on the voters roll, do you have a full UK drivers licence, do you have an active bank account, do you earn over £1000 p/month, do you get payslips or can you prove your income, do you have a proof of address (utility bill etc) in your name? If the answer is yes to all the above then your chances have certainly improved. The only thing to discuss then is your actual payment record. How bad is it? Can you divulge any more information? Kind Regards, Edwin

Posted by on

Question.

HI i have a rover 214si 1999 with 92k miles in good condition with full s/h i really want a 2004-2005 honda civic diesel to save on my fuel costs. i currently spend £55 a week in my cuurent car and when i borrowed a civic diesel for 4 weeks i saved £80 i was figuring i could use the money i save to pay for the new car insread. Can you help and do you charge upfront fees?

Posted by Keith on

Question.

Hi There i have a bad credit and am looking to purchase a car i have very gd salaryand just made some mistakes a few years back which resulted in me being late on a few payments i am looking to borrow £15,000 and have a car to exchange do you think yous could help Thank you Paul

Posted by Paul on

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I have a car on finance but want a newer car. Do you clear ex finance so that i can get a car from you? John

Posted by John on

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Hi Edwin, Me and my partner are interested in receiving a car on finance from you. We both have stable job's, Better then average income but don't have a perfect credit history. I was wondering if you lease any car of any price to any person. The car we were looking at is the 2008 Honda Civic Type R GT. How good of a History and wage would we have to earn to be accepted for this car?

Posted by Mark Kavanagh on

Answer.

Hi John, yes - if you have a part exchange and still have existing finance on that car we can clear it off for you and get you into a newer car. I look forward to receiving your application.

Posted by on

Answer.

Hi Mark, it sounds like you and your partner have average credit which isn't horrendous by any stretch of the imagination. As long as you both have a full UK driving licence and can prove your income we should be able to get you approved for a Civic Type R. How much are the going for and do you have a deposit? Lastly we can't guarantee acceptance until we've seen your credit file which will be visible after you've applied for finance.

Posted by on

Question.

i have been refused car finance 3 times at local garage i need a car for work ,can you help

Posted by Brenda on

Question.

Hi. I know I have a bad credit score as I've been refused credit in the past although I have a mobile phone contract and I rent privately through a letting agents. I'm 25 and will need a car soon as my ban ends and will only be able to afford one on finance. I will have a £1-2000 deposit and I think my partner will guarantor if I need her to, I'm also looking for an Audi a4 off yourselves. What do you think my chances are? Thanks

Posted by Kenny on

Answer.

Hi Brenda, apologies for the delayed response. We'll certainly try and help get you approved for car finance. We differ from car garages as we specialise in helping people with poor credit. Please make an application and we'll see what we can do. Kind Regards, Edwin

Posted by on

Answer.

Hi Kenny, we will certainly try our best to get you approved for car finance. The fact that you have a deposit is great news. We do have bad credit lenders on our panel so i'm quietly confident that we can help but everyone's circumstances are always different so until we see your credit profile we can't promise anything. You say you want an A4. Have you had any insurance quotes yet? The reason i ask is that the finance companies will want to see fully comprehensive insurance and because of your age they may well be sky high. Kind Regards, Edwin

Posted by on

Question.

Yes ive had a couple of quotes and they are within my budget

Posted by Kenny on

Question.

Hi, i have really poor credit & i've seen a car i want. I have an Astra X reg as a part ex, would this be ok? What are my chances of getting car finance as i have really poor credit and work part time?

Posted by Lisa on

Answer.

Hi Lisa, until we see your credit profile i can't give a guaranteed answer. Please make an application and we'll see how we get on. You say you work part time - do you earn over £650 p/month? Edwin

Posted by on

Question.

I have a 1999 Ford Ka that runs fine but has been told today that its rusting underneath, it is repairable but i'm sick of driving older cars which age within a year of me buying. I need a much newer car with less ageing issues. Stupid thing cost me a grand - rip off!! My folks live in mid wales so i need transport, i also have young children so the car needs to be safe. Mileage on the Ka is only 57k. I have no savings and only a benefits income as my sons are too young for me to work as they aren't at school. Thanks

Posted by Louise Lambourne on

Answer.

Hi Louise, thanks for your question - how is your credit rating? We may be able to help if you have good credit but if you have bad credit it will be tricky as most of our lenders need our customers to be in work and prove their income with payslips etc. Have you got anyone else who can act as a guarantor? Maybe your Mum or Dad? Thanks, Edwin

Posted by on

Question.

Hi Edwin, Thanks for your reply. No my credit is bad (well they call it bad, its based on something worth £200 and it was provident and they stopped collecting some weeks without my consent and it created bad credit). My dad got made redundant 3 years ago and almost lost his house, hence the move to wales so he is semi retired now so no work income. No other family members to act as a guarantor. I'm a private tenant and pay rent and all my other bills fine. Is there any help for mums needing cars?? Doesn't look like I am able to get a car then does it? :o(

Posted by Louise Lambourne on

Answer.

Hi Louise, thanks for the response and i'm sorry to say that there's nothing we'd be able to do. We act as a broker so it's not our decision - it's the lenders that have the criteria. Sorry again and good luck.

Posted by on

Question.

Ok. Thanks. How much would my earnings have to be with regards to bad credit in order to get help and are the repayments any higher as its via a bad credit loan, ie: higher APR%. Thanks

Posted by Louise Lambourne on

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Posted by Louise Lambourne on

Answer.

Hi Louise, minimum income is £750 p/month and the APR would be higher than high street lenders as you're seen as a higher risk to lenders. Edwin

Posted by on

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Thank you for your help and advice

Posted by Louise Lambourne on

Question.

Hi, i have default from 5 years ago and i want to buy a car on a pcp. I have £2000 deposit and i am willing to pay £300 a month? I want a car that is no more than £15000. Please help.

Posted by Cherif on

Answer.

Hi Cherif, can you please let me know about your current credit - is that up to date and all paid on time? The default from may well get overlooked as it was such a long time ago. Regards, Edwin

Posted by on

Question.

Hi, I have bad credit but I do have a car on finance at the moment. My car is an Astra 56 plate and is worth £2000 however, I got knocked back for finance & I need a bigger car. How can I go about this? Can my partner go for the finance in her name but she doesn't have a licence? Chris

Posted by Chris on

Answer.

Hi Chris, your partner couldn't apply as she doesn't have a driving licence. Where did you apply and what was the reason they gave for turning you down? If we can get you approved we can take your part exchange off you. Regards, Edwin

Posted by on

Question.

Hi, it's me, Cherif again. Thanks for the reply, i just checked my credit file at Experian and my credit is fair and my current credit is up to date.

Posted by Cherif on

Answer.

Hi Cherif, that's great news! We should be able to get you accepted then. Please make an application and i'll look out for it. Regards, Edwin

Posted by on

Question.

Hi, I wonder if you could help. I don't have the best of credit histories due to a prolonged period where I could only do part time work due to my partners health. I have now got a permanent contract through an agency (it is permanant due to the nature of the contact they have). I have recently been turned down by a lender when trying to get finance on a car for £4500 using my own car as a £500 deposit (it's quite an old astra). I was offered finance of £6500 if I paid a £1500 pound deposit. I have also been offered finance through a different company if I travel about 2 hours without knowing what they have in stock. I was wondering what my chance of getting credit with yourselves is as my two main drawbacks are my poor credit history plus only having my full time job for 3 months?

Posted by Michael, on

Answer.

Hi Michael, we should be able to help get you approved for car finance if you've been approved elsewhere. What companies have you applied with recently? If required could you up your deposit from £500 to £1000? Regards, Edwin

Posted by on

Question.

Hi, I have bad credit. I have EU driving licence and I'm working part time. I have an old ford ka which is not good. I would like a new car on finance. I know if I apply i don't have much chance. But my husband is working full time and brings home £1500 pm. He doesn't have driving licence yet. I wonder if we could apply for finance together? We missed some payments in the past but we can now afford a car on finance as we work together.

Posted by Martina on

Answer.

Hi Martina, yes - please make a joint application with your husband as that will strengthen your chances of being approved. If we can help we'll also be able to take your part exchange off you too. Kind regards, Edwin

Posted by on

Question.

Hey there. I just checked my credit score with Experian and it is 319 due to defaulted accounts. However the debt is £400 and isn't even mine. It is for two accounts I have absolutely no knowledge of. I am contacting these companies to sort this out. I have no other credit cars or loans or over drafts. What would be the chance's of me getting car finance? I would have my own car (£800-1000 value) as PX and would be looking for £5000-7000. Any info would be a huge help. Thank you. Yours sincerely, Christopher

Posted by Christopher on

Answer.

Hi Christopher, if all you have on your credit file is a default and no other form of credit (loans, credit cards, mortgage, mobile phone contract) then we'll really struggle to get you approved if i'm honest. You do seem to have a decent deposit that does help though. Could you get a guarantor to apply with you? Edwin

Posted by on

Question.

Hey there again. I have got a defaulted bill on my account from Virgin media and two payday loans that I have no knowledge of. These are not defaulted but have late payments due to the fact I had no idea about them until I checked my credit report this week. Is it simply a lack of credit that would prevent me from obtaining car finance? How can I rectify this?

Posted by Christopher on

Answer.

Hi Christopher - yes a lack of active credit doesn't help as lenders have nothing to base their decision on. Also i'd strongly advise against payday loans as these are frowned upon by most lenders. How come you have no idea about them. Surely you remember taking them out? Or have you been a victim of financial fraud? Edwin

Posted by on

Question.

I can't remember taking them out because I didn't Edwin. If I hadn't checked with Experian I would never have found out about them. So what would be the next step for me after I get these blemishes off my record?

Posted by Christopher on

Answer.

Thanks for the response. Firstly i'd raise the payday loan issue with the payday loan company to potentially get them removed from your credit profile. Next step would be to get a small credit card from your bank and make sure you're on the electoral roll. Keep you minimum payments up to date on your credit card and that way you'll build up a little positive credit history. Also take out a contract mobile phone as that'll help build your profile. Edwin

Posted by on

Question.

Hi there. I would love to get car finance again after having a car re possessed in 2009 due to redundancy. I'm now in full time work with a decent contract. I'm also paying of an overdraft via a recovery company. Would it be possible do you think? I'm looking for about £3500 and my 2001 VW Passat TDi in exchange. Many thanks, Dean

Posted by Dean Clarke on

Question.

Hi Edwin, I currently work part time (16 hours) and also receive working tax credits. I have bad credit from being made redundant a few years ago. I am looking to borrow £2-£3k and could have a deposit off £1k. My total monthly income including all tax credits is approx £1300. Do you think it would be possible for me to get credit? Thanks in advance!

Posted by Jo on

Answer.

Hi Dean, there is a chance as you only need £3500 and have a deposit in your part exchange. Please apply when you get 5 minutes. Edwin

Posted by on

Answer.

Hi Jo, as you're employed and have a large deposit there is a chance we can get you approved even with your bad credit history. Please make an application. Kind Regards, Edwin

Posted by on

Question.

Hi Edwin, I have an Audi A4 (97) for part exchange, I have an EU driving license, work part time,and a poor credit.. I'm looking for a small car and I can afford £100pm for a new car. Can you help me please? Thanks

Posted by Elisabete on

Answer.

Hi Elisabete, we can potentially help - please make an application and supply me with the reference number when you're ready. If approved you can choose your car from any car dealership nationwide. Kind Regards, Edwin

Posted by on

Question.

I have a bad credit score and I am looking to borrow £2500. Can you help me?

Posted by Ortho on

Answer.

Hi Ortho, we'd love to help. Please apply when you get 3 minutes. We help people with poor credit and £2500 isn't a huge amount to ask for. Have a good weekend.

Posted by on

Question.

Hi, I recently had an accident, the insurance company have settled the payment. I have got a deposit of £3000, and am looking for a Honda Civic 2008. Dont think I have a good credit history, having said that not checked with Experian yet!! Am a full time student, i work part time, got a salary of about £1000. I am in receipt of working tax, and HB. What are the chances of getting a this type of car which is roughly about £7000? I got Full Uk DL, private renting, am in Electoral roll. Please advise.

Posted by Nance on

Answer.

Hi Nance, as you're earning £1000 per month and have a £3000 deposit i'm pretty confident we can get you the £4000 required on finance for a Honda Civic. Please apply on our website when you get 2 minutes. Regards, Edwin

Posted by on

Question.

I HAVE A 2010 TACOMA WITH A LOT OF EQUITY IN IT. CAN I TRADE IT FOR SOMETHING BIGGER THAT IS CHEAPER. MY CREDIT IS NOT VERY GOOD. I WANT A PAYMENT UNDER £500.00 A MONTH AND WAS LOOKING AT A BUYING PRICE OF AROUND £20,000. IS THIS AN OPTION?

Posted by Jason on

Answer.

Hi Jason, yes this is an option. You can use the equity in your current car as a deposit on the new car at the supplying dealer. We can get you the finance but if you need approx £20,000 you'd need at least a £2000 deposit. As long as that's fine please apply and we'll hopefully have an approval for you within an hour. Edwin

Posted by on

Question.

I need 7000 to purchase a car and need a loan for this, I have bad credit and wanted to know if this is possible?

Posted by Georgina Evans on

Answer.

Hi Georgina, you would need to put an application through so our underwriters can have a closer look at your credit profile. However we do deal with the majority of lenders on the market and manage to secure the majority of our customers an approval including those with previous bad credit. I hope this helps - Edwin :)

Posted by on

Question.

Hi I looking to get a new car in the next few months,I have a Vauxhall Vectra 2.0 DI LS Hatchback to part exchange and I am wondering if you can help me,I was made bankrupt Feb 2009 and I am now retired from my job but on a private pension on £12000 per year i dont have any credit,is it best to wait for the full five years on the Bankruptcy or can I still try for a car loan finance with you and which one please advise.

Posted by Kevin Hunter on

Answer.

Hi Kevin, Thank you for using our Q&A. It is entirely up to you whether you wait for the bankruptcy to come off your credit profile as we can help now. However whilst the bankruptcy is still on your file we will be limited to the number of lenders we can try and get you approved with and you will need to expect to pay higher interest rates than those you see on the highstreet as you are seen as a higher risk. It would be worth making an application so we can see what we can do. I hope this helps. Edwin

Posted by on

Question.

Hi, I have a not so good credit history, i work full time and at the moment i am taking control of my finances.

I don't think my credit history is that bad to be honest and I have a small deposit. Can you help? Do you think i will be able to get car finance?

Posted by John Robbins on

Answer.

Hi John, thank you for your question.

Without running a credit search i cannot guarantee an approval but what i can say is that we help thousands of people each month obtain car finance even though they have a poor credit history.

As long as you are employed, have a UK licence and have some current active clean credit i'm confident we could get you approved. Please apply when you get a moment and when approved you can choose a car from any dealer. Regards, Edwin

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