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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.

Having trouble getting a car loan

Hi, me and my wife both work full time, me with the same employer for 20 years.

Our joint income is around £42,000 and we are homeowners. We paid late on two mortgage payments because my wife lost her job. It has all been paid back.

I have £1000 for a deposit, but have been turned down by main stream lenders! Can you help?

Posted by Simon H on

Answer.

Hi Simon, thank you for your question.

The two missed mortgage repayments shouldn't be too much of an issue in all honesty, and we should be able to get you an approval.

You have a good income and a stable job so that will go in your favour and your deposit will certainly help things along.

Please make a joint application here and we'll see what we can offer you. If 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.

Hi Edwin. I've just been approved for finance and was looking for £8,000 with a £500 deposit.. With a bad credit history, that sort of deposit isn't going to be acceptable is it??

Posted by Ben on

Answer.

Hi Ben,
This depends on who you have been accepted with. In some cases, our lenders do not even require a deposit, so your deposit of £500 may well be fine.
Have you been approved via ourselves or another company? Edwin

Posted by on

Question.

Hi, thanks for getting back to me. The loan has been approved via yourselves.

Posted by Ben on

Answer.

Hi Ben.
That's great. Now you've been approved, your advisor will be in contact to give you all the information that you need about your approval, but I should think that a £500 deposit is fine. Edwin

Posted by on

Question.

Hi, i'm a mum of three and looking for a £500 loan for a first car for me and my children. I have bad credit would i get accepted?

Posted by Kirsty Slavin on

Answer.

Hi Kirsty, thank you for your question.

The good news is that we do have lenders that help those with bad credit with car finance, however our minimum lend is £1000. Are you currently in employment?

Please make an application when you have a moment. If 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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