Skip to content

Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
image description

Edwin Miles. Underwriting Manager

Car Finance Calculator

Calculate your loan immediately

close

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.

Refused Car Finance at Carcraft

Hi, I have previously had bad finances, but for the last year i have worked really hard to improve this.

With a credit card, catalogue and small loan i am now always making the minimum payments on time. I have just been refused finance at Carcraft and am wondering will anyone give me a chance?

The latest refusal will have just left another footprint in my credit history and i'm getting nowhere? Kind regards Nikki

Posted by Nikki Bushell on

Answer.

Hi Nikki, thank you for your question. Unfortunately without seeing your credit profile i can't guarantee an approval however i believe we have more lenders on our panel than Carcraft so there is a chance.

We do have quite a few specialist lenders that help people with bad credit get car finance and as long as you are employed with a UK licence there is an opportunity of getting an acceptance. The fact that you have some recent clean credit history will also go in your favour.

Please make an application asap and if approved we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Edwin

Posted by on
4/5

Rate Edwin’s advice.

image description

Question.

Hi, I earn £27k annually and have a fair rating yet just got turned down by Carcraft. I don't owe nobody nothing at all, i have a £500 deposit and looking for £5-7 k.

I have had the same address for 6 years, a BT land-line, a bank account and i'm on the electoral register. Can you help or do i just give up? I don't know why i am turned down.

Posted by Nygel Sylvester on

Answer.

Hi Nygel, we'll certainly try and help as we have more lenders on our panel than Carcraft. You earn a good wage, have a deposit and aren't after a silly amount so the "deal" is sensible

Please apply when you're ready and provide me with your reference number asap. If approved you can buy a car from any dealer. Thank you

Posted by on

Question.

Hello, I was a single parent looking around Carcraft and i advised the salesman that I had a budget of £180 a month for a car.

Carcraft told me I could test drive a BMW and if I gave them a £100 deposit they would get the payments cheaper. The car was £14,300 and they hassled me into taking the car home to decide what I wanted to do.

They then turned up at my house at 9PM at night for my documents. They were so keen to get a deal (I was vulnerable and loved the car) so I just went along with it and the payments are costing me £320 a month over 5 years. This leaves me with a car costing me around £19,000 (for a 59 plate) that's worth around £7000. I'm so stressed as I'm stuck with it and cannot afford it. What can I do?!

Posted by Gina on

Answer.

Hi Gina, thank you for your question.

The tactics used do seem forceful but looking back in hindsight you should have handed the keys back as you've signed an agreement that's nearly double your initial monthly budget.

How long ago did you sign the agreement as you do have a 14 day cooling off period to cancel the finance but you can't just hand the car back unfortunately. The finance agreement would need to be settled in full by either yourself or by Carcraft sending the funds back (which is unlikely to happen). However, there doesn't seem to be anything wrong with the car itself so there isn't an issue with the goods but the deal and the tactics used.

I'd call the finance company to get some advice from them and also speak with Carcraft to see if they can get you into another cheaper car. I hoe that you can resolve the situation as swiftly as possible. Kind Regards, Edwin

Posted by on

Question.

Hello, I've been turned down from Stoneacre and they have a specialist finance department.

Is there any point in me applying with you?

Posted by Christine on

Answer.

Hi Christine, thank you for applying and apologies for the delayed response.

Yes - there is still a chance we can get you approved even though you have been declined by Stoneacre. We have more lenders on our panel than they do so there is hope.

Please make an application and once approved you can choose a car from any dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

Hi, I have just been turned down credit at Renault for a new Clio.

I have one late payment in the last 5 and a half years and earn £30k a year and have been living in the same address for 4 years.

Do you think Peugeot or someone else will actually offer me finance? My credit score is 980+

Posted by James Moss on

Answer.

Hi James, thank you for your question.

As you have a good income, a stable residential history and a clean credit record i'm reasonably confident we can get you accepted for finance on the car you want at Renault. The manufacturer finance schemes are incredibly stringent on who they lend funds too however, we have many lenders on our panel.

Please make an application 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

Question.

What documents do you need to provide to complete a loan with yourselves?

Posted by nicola rollason on

Answer.

Hi Nicola, apologies for the delayed response.

The documentation we require is requested by the lender we have you approved with. Different lenders have different criteria so it can vary. As a minimum we need a copy of your current driving licence (both parts) in your current address.

However, most lenders will also request proof of income (3 months payslips or bank statements). 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

Do you have a question on this topic?

Ask a question or leave a comment on this topic below

Back to Car Finance Expert Q&A

Back to top