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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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What are my chances of a £25000 car loan?

Hi, my credit score is 613 due to two defaults, one I know about which I have since paid off and satisfied and the other which is British gas from 2 years ago which I know nothing about.

My house has been rented out in the past and I'm sure a past tenant is responsible as the name that the gas account was set up in is spelt slightly different to my name. It spells Howskey. What are my chances of getting £25000?

Posted by John Hawksey on


Hi John, thank you for joining our Q&A.

Apologies for the slight delay in getting back to you. If you require £25,000 you'll need a £4000 to £5000 deposit as your credit score isn't fantastic. Is this possible?

If so, please make an application as i do have a lender in mind that should be able to help you even though you have past defaults.

Posted by on

Rate Edwin’s advice.

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Hi, just wondering what would an approximate interest rate and monthly payment on a £25,000 car loan on a joint application with good/fair credit score for a 5 yr tenure. I did make an application few minutes back, but am specifically looking at the numbers to make a decision.

Posted by Sunil on


Hi Suni, £25,000 over 5 years with fair credit would bring your payments in at £630 per month approx. If approved the interest rate you receive will be between 14% and 16%. Kind Regards, Edwin

Posted by on


Hi, I just wanted to know how much the interest rate and monthly payments would be on a £25000 car loan over 3 years.

I have a 850 credit score with no defaults and no late payments. Thank you

Posted by Wasir Zafar on


Hi Wasir,

As you have a good credit score you'd be looking at an APR of approximately 9.9% meaning your payments would be £800 per month. If you borrowed the £25,000 over 4 years this would bring your payments down to £627.

Please make an application if you need to and once accepted you can buy a car from any dealer. Kind Regards, Edwin

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