Skip to content

Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
image description

Edwin Miles. Underwriting Manager

Car Finance Calculator

Calculate your loan immediately

close

How can I help you?

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.

PCP Car Finance

I am interested in getting a car on the personal contract purchase. Please can you advise me what cars are available on this plan. Many thanks, Michael Downes

Posted by MICHAEL DOWNES on

Answer.

Hi Michael, thanks for your question. We can get you in any car you want to be honest however, it all depends upon your credit history and affordability as to whether we can get you approved for a PCP car loan. Kind Regards, Edwin

Posted by on
5/5

Rate Edwin’s advice.

image description

Question.

The garage that I ordered a new car through is telling me that on my application for the pcp their finance company are saying that they feel I am comfortably extended. I sold my previous car in preparation for delivery of the new one and am now left with nothing. I need a car for work and I recieve a company car payment in order for me to provide one. Will all finance companies say the same thing??

Posted by Louise Mw on

Answer.

Hi Louise, no - not all finance companies will say the same thing. I know the excuse they are using - they feel your are over committed already and don't want to lend you any more funds on a PCP deal. We've heard this many times before. I'm confident that we can help you out as long as your credit history is in good shape and you can prove your income with payslips etc. Do you have a deposit at all and what car are you looking at? We can offer good rates on PCP deals. Kind Regards, Edwin

Posted by on

Question.

I have payslips etc. My credit file is still showing my last hp but I have a letter from them to say its paid off. I have 6k -8k deposit

Posted by Louise Mcwilliams on

Answer.

Excellent Louise, are you after a brand new car, pre-registered or used?

Posted by on

Question.

I need a new car preferably, but I would like a 4x4. The car ordered was an evoque

Posted by Louise Mcwilliams on

Answer.

Ok - as we supply the car and the finance as a business we wouldn't be able to get a brand new Evoque but we could get one with demonstrator mileage on. Would that suit you?

Posted by on

Question.

Perfect, but I need it asap!!

Posted by Louise Mcwilliams on

Answer.

Thanks, please apply and speak to Alex Hurst our manager.

Posted by on

Question.

Hello, I wanted to see how i can get a PCP on a new bmw 1 series. I have around £2500 (most from previous car equity). Experian is telling me that my score is around 760, equifax and callcredit class me as good. I think the fair profile is related to 'high credit card' utilisation though i never use my cards now for basic shopping and have never missed payments. I am on the electoral roll too. What are the interest rates these days on 48 month PCP agreements? The car is 116i sport auto... I would like to keep payments below £400 a month if possible.

Posted by Alena on

Answer.

Hi Alena, as you have a clean credit profile and a decent size deposit i'm confident we can get you a good rate on a PCP deal for a new BMW 1 Series. The rate you'll pay will be between 8% and 12% depending upon which lender we can get you approved with. Please apply when you get 2 minutes and let me know your reference number. Kind Regards, Edwin

Posted by on

Question.

Hi Edwin, I've been trying to finance a car that I will admit is a little on the expensive side for my wage. I earn £15k pa and the car is £7700. In my favour I still live at home, have very low rent, a great credit history (950 ) and I can put a deposit of £2000 down very easily. This apparently isn't good enough for a couple of unsecured loan offers who quoted me at relatively high APRs and then rejected my applications anyway. Will those two applications hurt my credit rating enough to get a PCP with you? I really don't know what to do at this point - the car is reliable, low mileage and will drastically reduce the expenditure I'm having to outlay on servicing, repairs and petrol of my current rust bucket!

Posted by Rob on

Answer.

Hi Rob, what you say makes perfect sense and as you have a large deposit of £2000 i'm very confident we can secure you the remaining £5700 that you need as you have a high credit score. Please apply for finance with us and let me know your reference number. Once approved you can obviously choose a new car from any reputable dealer and they will be able to take your "rust bucket" off your hands too :-)

Posted by on

Do you have a question on this topic?

Ask a question or leave a comment on this topic below

Back to Car Finance Expert Q&A

Back to top