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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.

I have car finance with Billing - Can i upgrade?

Hi, I still have finance on my current car with Billing Finance which I have had for 3 years now and I would like to upgrade my car for a newer car.

Would you still be able to help me with getting finance?

Posted by Mark Hill on


Hi Mark, thank you for your question.

We should indeed be able to help you to settle your existing agreement with Billing so that you can take out a new agreement and upgrade to a newer car.

Have you received a settlement figure yet from Billing and do you know how much your car is worth (trade value)? Once we have these figures it will enable us to see whether you can just part exchange your current car at the dealership you're purchasing your new one from or whether you are in negative equity (where the amount you owe is greater than the vehicle's value).

If the latter is the case you can simply "VT" (voluntarily terminate) your agreement and hand the car back to Billing, as long as you're over 50% of the way through your agreement and are up to date with your payments.

We can guide you through the process and, if approved with us, we provide a no obligation quote and you can choose a new car from any dealer. Please apply when you get a minute. Have a good evening. Edwin

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