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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.

Would a contract of employment be enough proof of income for a car loan?

Hi, i've just started a new job and i have a contract from work stating my basic salary on there. Would that be ok for evidence of employment?

Posted by Raj on

Answer.

Hi Raj, yes a contract of employment would be enough evidence for a finance company to prove your income.

The only other thing a finance lender may want to do is a job check if you haven't started getting payslips yet. 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.

Welll my credit is bad :( however no ccjs, no ivas and i'm not bankrupt. Just defaults in the past which are mostly settled. However checking my report i found one default which i didn't know i had bttt mostly all settled and i have no other finance i am paying for....so the car would only be the only thing im paying for....im looking around £8000 has i want a decent car to last me a few years. Would that be ok?

Posted by Rajdeep on

Answer.

Hi Rajdeep, the only way to find out is to make an application and see if we can get you approved. Your credit doesn't sound really bad but the lenders don't like to see defaults. However, there's a chance of getting you approved so please apply. Kind Regards, Edwin

Posted by on

Question.

iv just made an application now! fingers crossed :)

Posted by Raj on

Question.

Hi, I start employment on 01/09/14 (£14500 p/a) and urgently need a new reliable car. I have just sold my old one, so I would be able to provide a small deposit (£500).

My credit experian score is fair, no debts or defaults, but I have never had any loans/credit etc. Could I secure a loan of £4000-£6000 over a minimum of 3 years?

Posted by Craig Clark on

Answer.

Hi Craig, thank you for your question.

As you have fair credit, a small deposit and a new job with a decent salary i'm confident we could get you £4000. £6000 may be a stretch but we'll try our best to get you as much as your income allows.

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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