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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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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.

Can I get PCP Finance?

Hi Edwin, My credit scores are 913 (call credit) and 743 (Equifax). I have a net income of £2500. I do have a £15k loan and various credit cards totaling approx £8k.

I am registered at my address. What are the chances of getting a PCP deal on a new car with a value of £19k and a £1500 deposit?

Posted by Denise Moye on


Hi Denise, Thank you for your question.

We do have lenders that can offer PCP agreements. These lenders require applicants to have good credit, which it seems as though you have, so we may well be able to help. Having a deposit available and being on the electoral roll will help your application too.

Please make an application when you're ready, and if approved, you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Rate Edwin’s advice.

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Hi, my son is nearly 19 he works full time, he has a credit card and other than his phone bill he has no other outgoings. Is it possible for him to get finance through yourselves.

He has been to a main dealer who said yes but only with a guarantor which he doesn't have. Thanks Lisa

Posted by Lisa Bartlett on


Hi Lisa, thanks for your questions.

We can struggle with getting 18 year olds approved for finance as it is often the case that at this age, you have yet to build up much credit history (if any!). In this case, we would suggest that having a guarantor would improve their chance of approval.

It does, however, sound like your son has successfully began to build up some credit history, in the form of his credit card and mobile phone contract, so we may well be able to help.

We can't promise an approval, but I believe we have a good chance. When your son is ready, he can make an application here. If approved, he can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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