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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.

If i get a car finance are there any age restrictions on the car i buy?

Can I source my own car and requested finance? Is there a certain age the car can be?

Posted by Muhammad on

Answer.

Hi Muhammad, here at carfinance247 our lenders tend to finance cars that are between the ages of 6 months and 6 years old. If the cars are any older then we struggle to get the finance companies to accept the vehicle. Most lenders also tend to state that the vehicle can't have done over 100,000 miles at the start of the agreement. However, each lender has their own vehicle criteria.

The good news is that you can indeed find your own car once approved and the amount you can borrow will depend upon your income. Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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Question.

Hi, if I was to apply for car credit would there be limitations on the car I could choose, based on age / mileage of the car?

Posted by Ben Kerby on

Answer.

Hi Ben, in most circumstances the car can't be any older than 10 years at the end of the agreement and it can't have any more than 100,000 miles on the clock at the start of the agreement. There can be exceptions if you have an excellent credit history though. Edwin

Posted by on

Question.

Would it be possible to obtain a BMW 745 on a 55 plate with a poorish credit history?

Posted by Chris on

Answer.

Hi Chris, that would be possible - how much do you need and what deposit do you have? Edwin

Posted by on

Question.

Deposit of around £1k. The last company would entertain the idea of a car over 3 litre. I have a liking for big engined motors. Either that or another brand Jag XK8.

Posted by Chris on

Answer.

Hi Chris, what is the company you mentioned? Have you applied and been approved elsewhere? Some finance companies do have criteria on engine size so it all depends upon who we get you approved with. How much are you looking to borrow approximately?

Posted by on

Question.

Morning Edwin, I applied last November with cars 4 u . They approved me for a BMW 730 but That's the largest . I wanted and would still want a 745. I found a BMW 750 last night with 59000 miles on a 55 plate for £9k. Have a good well paid job . I must admit i've made mistakes in the past. Who if anyone nowadays is perfect? Your thoughts then?

Posted by Chris on

Answer.

Hi Chris, i think i know the lender they have you approved with and we also deal with that same lender. The good news is that we have more lenders on our panel than they do so hopefully we can get you accepted with another lender that would allow you to purchase the car you want. If we get you approved with the same lender however you wouldn't have any other option i'm afraid other than getting a 3.0 litre unfortunately. I'm just letting you know my thoughts up front. Edwin

Posted by on

Question.

Thanks . There is the option of a 730 diesel. Would have to be a long wheelbase L version. There are a couple I have three mobile contracts and a credit card.

Posted by Chris on

Answer.

Hi Chris, no problem. Look forward to receiving your application. Edwin

Posted by on

Question.

This comment is awaiting moderation.

Posted by Andy riley on

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