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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.

Get car finance for £8000

Hello, I have seen a car in a local garage for £8000, but have poor credit can you help get me approved?

Posted by Kelly Grimes on

Answer.

Hi Kelly, thank you for your question. If you have a poor credit history you've come to the right place. Here at Car Finance 247 we help hundreds of customers on a monthly basis that have past issues obtain car credit. If we get you approved i don't see £8000 as an issue as long as your affordability (worked out from payslips) doesn't cause any problems.

Do you have a deposit at all? Are you on the electoral roll? Do you have any current clean credit? If the answer is yes to those 3 questions this will give us a better chance of getting you accepted.

Lastly, when approved we provide a no obligation quote and you can choose a car from any dealer in the UK. Please make an application when you're ready. Thanks, Edwin

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Question.

Hello, I'm looking to spent around £8000 on a car with a £900 deposit. I checked my credit score on experian and it was 901. I have a credit card with a £6K limit on which I owe £2K. I work full time as a software engineer and I earn around £31K pa. All my bills are always paid on time. I'm really nervious about applying for credit as I don't have much experience with it in the past. Thanks, Linzi

Posted by Linzi on

Answer.

Hi Linzi, i have no hesitation in saying that we'll be able to help you out with no problem at all and also get you a good rate of finance. The fact that you have a good deposit also goes a long way in our lenders eyes. Have you applied anywhere else yet and if so what has been the outcome? Lastly, just to check - you are on the electoral roll aren't you? Kind Regards, Edwin

Posted by on

Question.

I am on the electoral roll, and I have a mobile phone contract. I have a joint account and a joint credit card with a limit of £5K which has no balance. I've just applied to Black Horse and been approved. Thanks Lynnsay

Posted by Linzi on

Answer.

Great news. Let us know what rate you get offered and we'll see if we can beat it. Have you already located a vehicle or would you like to see if we could source what you want? Regards, Edwin

Posted by on

Question.

It's been arranged for £149 over 60 months. Works out I'm actually borrowing £7K. Not sure about percentage but that sounds pretty high interest. By my calcualtions I think it's 20~%. Thanks Lynnsay

Posted by Linzi on

Answer.

Ok - would you be interested in getting approved with us and seeing what we can offer? I know we can beat that. If so, let me know when you have applied and i'll get our manager to look at the application for you. Regards, Edwin

Posted by on

Question.

Hi, I'm 20 and want to get finance on a car worth about £8000. I've got about £1500 deposit. I have a full time job but think my credit rating may be poor due to 2 or 3 late payments on a store card. I have my car insurance and a phone bill coming out of my account by direct debit every month. What do you think my chances of getting finance are?

Posted by Jodie on

Answer.

Hi Jodie, as you have a large deposit and you only say you've missed a few monthly payments in the past we should be able to secure you car finance. The only thing that may go against you is your age and lack of credit. Other that the store card do you have any other form of active credit? Also, are you on the electoral roll? Regards, Edwin

Posted by on

Question.

The only things i have going from my account are my phone bill and car insurance every month. I'm not sure if i'm on the electoral roll but i assume so as i got accepted for finance with vauxhall last year but needed a guarantor and at the time my parents refused to help me out. Is there anywhere i can check my credit rating and will doing so affect my credit in any way? Also does it make it any easier or harder if i have personal lease instead of normal finance?

Posted by Jodie on

Answer.

Hi Jodie, you can check your personal credit file out at Experian. You'll find them on the net with a quick Google search. Checking your credit does not have an adverse effect on your credit file. You can only take out a personal contract lease on a new or nearly new car. Is the car you want to buy in this category? If not, and you are buying a used car then you'll need car finance or a personal loan. Let me know how you would like to proceed :-)

Posted by on

Question.

I have been discharged from a bankruptcy for five years. I have a mortgage, i'm on the electoral roll. What are the chances of getting credit for approx £8000?

Posted by Kim on

Answer.

Hi Kim, as you were discharged over 5 years ago now i'm confident we'd be able to help as you have a mortgage and you're on the electoral roll. Have you kept up to date with your mortgage payments over the last few years? If so great! Lastly, would you have any form of deposit at all as this would help your chances? Regards, Edwin

Posted by on

Question.

I was discharged from bankruptcy in November 2010. I have a car to trade in worth around £4000 - Can I trade that in against a car you have? I am looking for a Saab around £8000.

Posted by John Malcolm on

Answer.

Hi John, Yes - this isn't a problem at all. Please apply when you have 10 minutes and email me with your reference number so i can get our sales manager to process your application and look after you. Kind Regards, Edwin

Posted by on

Question.

Hi Edwin, I have a rating of 587 (on experian) due to a couple of recent arrears on 2 mortgages and a credit card and mobile phone, due to my partners abuse of the joint account. I've just got a job £2,500 a month basic and have taken sole control of the account. Can I get financed for around £8000? And what proof of income would you require? Best regards

Posted by John on

Answer.

Hi John, we should be able to help get you approved for £8000 - do you have a deposit at all? We may need to see £1000. Are all you accounts now up to date or are you a few payments behind still? If approved we'd need to see payslips or bank statements for proof of income. Kind Regards, Edwin

Posted by on

Question.

Hi Edwin, I have just been turned down for car finance from ford. I have checked experian and have a score of 873 (fair) and i have a car worth £7000 to use as a deposit and need to borrow about £8000 to finance a new car. Can you help?

Posted by Paula on

Answer.

Hi Paula, as you have a large deposit in your part exchange and a fair credit rating we should be able to secure you the £8000 that you need. Is there any finance outstanding on your part exchange or do you own the car outright? Please let me know your reference number after you apply :-)

Posted by on

Question.

Hi there I'm Chris. I'm looking to get a used car on finance around the £8000 - £9000 mark but have never had a loan or anything like that before. I'm 20 and have 3 debits coming out of my account every month and have never missed a payment. I work full time. Is there anything you need to know and my chances?

Posted by Chris Green on

Answer.

Hi Chris, are you employed? Do you have a deposit? Do you have a full UK licence & are you on the electoral roll? Regards, Edwin

Posted by on

Question.

Yes I am employed full time, I don't have a deposit and I do have a full UK license.

Posted by Chris Green on

Answer.

Thanks Chris, realistically if we can get you approved you'd be looking at £5000 maximum. This is due to you having no deposit and very little credit history. Would that suffice?

Posted by on

Question.

I have a credit score of 768 and I have a deposit of £2000. Will I get finance for £8000? I am in full time employment, have lived in my house 9 years.

Posted by Jo on

Question.

Hi, can you tell me if i would qualify for £8000 car loan? I have a 756 score (did have 876) until Arnold Clarke done 5 searches this morning. I have a car already and going to pay off the finance, but don't have a deposit. Also how much would payments be over 5 years?

Posted by Michelle on

Answer.

Hi Jo, as you have a fair credit score and a large £2000 deposit i'm confident we can get you the £8000 that you need. Please apply when you get 3 minutes :-)

Posted by on

Answer.

Hi Michelle, i'm confident we can get you an £8000 car loan as we have more lenders on our panel than Arnold Clark. Please apply when you get a couple of minutes. Thank you

Posted by on

Question.

Hi, i am looking for Finance next year to change my car, I was discharged Bankrupt in 2009. I would be looking for around £8000. Is it possible that you can give me some advice please

Posted by Michelle P on

Answer.

Hi Michelle, as you were bankrupt over 3 years ago there is a chance that we can help however, if you're after £8000 you'll need £500 minimum deposit and some good active credit history. Is this possible? Lastly, are you on the electoral roll too? Edwin

Posted by on

Question.

I was bankrupt over 3 years and i have around £600 deposit and i am on the electrol roll. I was looking to get a car next year and most probably have more of a deposit. I am looking for about £6000. Please can you give me some advice please

Posted by Michelle Preston on

Answer.

Hi Michelle, great news on the deposit. Please apply on our website when you're ready as i'm confident we could secure you the £6000 that you need. When approved you can choose your car from any dealer nationwide. Have a good evening. Edwin

Posted by on

Question.

Hi, 2 months ago i was on a fair credit rating, im now on poor rating. What are the chances of a finace for a £8k car with £3k deposit? I'm on the electoral roll, have no ccj's or defaults... thanks

Posted by Mohammed on

Question.

Hi Edwin, I have bad credit but want a loan for a new car. The loan amount is £8000. I am full time employed with a monthly income of £1300

Posted by Gary S on

Answer.

Hi Mohammed, Firstly you have come to the right place. Here at cf247 we deal with a number of lenders who will finance customers who have experienced credit issues and subsequently fall within the poor credit category. Without saying too much I don't think £8000 will be a problem especially with a £3000 deposit. The fact that you are registered on the electoral roll will go a long way in helping secure you an approval. You would need to put an application through so we can have a closer look at your credit profile. Have a good day. Edwin

Posted by on

Answer.

Hi Gary, We should be able to get your finance for £8000 .However there is a chance that the finance company would require a deposit (usually anything from £500). It will help if any active credit is being kept up to date and you are registered on the electoral roll. Kind Regards, Edwin

Posted by on

Question.

Hi Edwin, We are looking for finance of £7615. We found a car at trade centre Wales where we got accepted for finance. We then changed our mind about that car and found another. We assumed we would get it but we're then declined. My husband applied, he had a full time job, our incoming is at 1900 inc child tax credit and child benefit and outgoings are £900. He has a CCJ and we had missed payments on our mortgage but over a year ago now, only one missed payment shows on our report but it was their fault I can't prove it though. Can you help us get the finance? Thanks

Posted by Sarahevs on

Answer.

Hi Sarah, Yes I am confident that we will be able to help you gain vehicle finance. Missed mortgage payments can dramatically influence your chances of an approval as a mortgage is one of the strongest forms of credit available. However if this was over a year ago and you are keeping up to date on recent payments then there should be no problem. Similary it would help if the CCJ was satisfied. However this is not essential. Your income should more than cover you in terms of affordability on an £8k loan. I would advise that you put an application through so we can assess your situation a little closer and hopefully place you with one of our lenders. Thanks, Edwin

Posted by on

Question.

According to experian I have a fair 802 score I have 2 ccjs both settled one is 5.5 yr old and one is 4.5 yr old I have a income of 1400.00 per month after tax what sort of chances is there of me getting the finance of you p.s all my other payments ie mobile phone are up to date and on time

Posted by Lee on

Answer.

Hi Lee, Firstly your credit score is quite good and we should be able to help you! the fact that you have settled your CCJs and are now keeping up to date on any payments will show the lenders your intent to improve your credit profile and should hopefully lead to an approval. Furthermore, the £8k that you require should be doable! Please put an application through so we can see how we can help!

Posted by on

Question.

Hello, I am looking at getting a used car on finance. I have a good credit rating but have 1 default. Would you be able to help?

Posted by Terri Haynes on

Answer.

Hi Terri, thank you for your question and apologies for the delayed response.

From what you have said i'm confident we can get you approved as you have a good credit score and only the 1 default on your file. As long as you have a UK driving licence and payslips to prove your income we'll be bale to get you into a used car in no time.

Please apply when you can. Edwin

Posted by on

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