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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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Need to update my car and get a new car loan

Hi there, I am interested in updating my car. Do I need a deposit in addition to my car which I would like to part exchange? Also can you tell me if there is a penalty on early repayment of the loan should I be in a position to pay this off? Thank you!

Posted by Josephine on


Hi Josephine, we can take your part exchange as full deposit so an extra cash deposit is not required. Regarding early settlement penalties it really all depends upon which lender you get accepted for finance with as you'd have to ask them that question. How much are you looking to finance and have you made an application already? Kind Regards, Edwin

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