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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.

Homeowner Car Finance

Hi Edwin, I would like to take out finance for my fiance to get a car as his credit is not so good. I'm a home owner working full time and i get tax credits. We are looking for £3000 but my credit is not brilliant. Should i apply?

Posted by susan nash on

Answer.

Hi Susan, all of our lenders look favourably on home owners so there is a very good chance of getting you approved. Are your mortgage payments up to date and do you have a driving licence? Also can you supply payslips from your job? If we get you approved £3000 won't be an issue so please apply and we'll try our best to get you accepted. We do also have lenders that take people on even though they may have missed payments in the past. Regards, Edwin

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Question.

Hi there - I have been living at the same home which has been mortgaged for over ten years, I have a fair credit rating of 779 and earn £65K pa in a job I have held for 4 years. What rate would I get for a £10,000 car loan whilst also having around £4 to £5K deposit?

Posted by Den on

Answer.

Hi Den, i'm confident we could get you approved for homeowner car finance as you have a fair credit rating, a great income and a large deposit. The rate you can expect will range between 11% and 15% to be honest as you wouldn't be classed as an A1 candidate for high street rates. They're typically reserved for people with scores of 950+. Do you need to finance £10,000 or just the £6000 as you have a deposit? Edwin

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