Assuming your credit profile is
|Car finance rate||XX% APR|
|Cost of credit||£ XXX|
|Total repayment||£ XX,XX.XX|
|48 monthly payments of||
£ 245 /mo
Representative example - Borrowing £5,500 over 4 years with a representative APR of 19.8%, and a deposit of £0, the amount payable would be £162 per month, with a total cost of credit of £2,282 and a total amount payable of £7,782.
You’ll get only best deals from our car finance and car warranty providers. No hidden fees or charges. No small print.
Getting a car finance quote with Carplus will not affect your credit score. Check your eligibility for free.
We provide best deals on car loans from UK’s top lenders. No fees. No deposit. No paperwork.
We know you’re more than a scent score, so we look at your overall situation when searching for the best deal.
Submit your details and choose from a fantastic range of car finance deals.
If successful we’ll organise everything with the lender.
All that’s left to do is to enjoy your new car for the duration of your contract.
A car finance loan is a loan that allows you to purchase a car of your choice. Repayments are typically spread across a fixed period of time, which includes additional interest and, in some cases, extra charges and fees.
There are three main types of car finance loan available to customers:
If you’re not sure which finance option is right for you, we’ve put together a helpful table below to make things easier. This explains the features of each option explained above, allowing you to make a more informed decision that suits your circumstances.
In order to apply for a car finance loan through Carplus you must:
If you currently have a provisional drivers licence, we may also be able to help you secure a car finance loan through one of our lenders.
Before committing to a car finance loan you will want to ensure you are able to afford your preferred choice of car. The price you pay will vary depending on the:
When applying for a car finance loan you will be asked to provide contact and address details, along with information about your employment, income and outgoings. You will also need to tell the lender how much you would like to borrow, your preferred repayment terms and the car you would like to buy.
The vast majority of providers allow you to make an application on their website. However, if you prefer the personal touch, you can visit their showroom, or contact them via email or phone.
Take into consideration the following before applying for a car finance loan to ensure you increase your chances of success:
To apply for a car finance loan with Carplus you will need to provide your:
If you meet the minimum requirements needed to apply, you will have to wait until the credit checks are completed by the lender before knowing if you qualify for car finance.
Anyone who passes the affordability tests and has a good credit score will be in a better position to qualify for car finance. However, Carplus also provide access to car finance loans for people with poor and bad credit, ensuring everyone has a chance of successfully applying.
In order to receive a range of quotes from our panel of lenders, we will run a ‘soft’ credit search, which will not have any impact on your credit score. This information is only seen by Carplus and not by any of our lenders.
If you wish to proceed to the next step of purchasing a product, your credit history can then be seen by the lender you are buying from. They will carry out a ‘hard’ credit check, which will be recorded on your credit file.
For anyone who believes they may struggle to meet the lender’s financial requirements, it may be best to improve your credit rating before making an application, as a failed submission can have a negative effect on your overall credit score.
At Carplus we believe in providing an honest and transparent service to all our customers. That’s why once you’ve started your application process we will show you the exact APR for your loan, rather than just the representative figure. Our lender’s representative APR rates start from 5.9%.
It’s all part of ensuring you get the best deal possible and are completely aware of the full costs involved, so there are no last-minute surprises.
At Carplus we do quotation search, which does not leave a footprint on your credit file. This means that applying and getting a personalised car loan quote won’t affect your credit score. We will search a panel of lenders and find you the best car finance deal to match your budget and affordability.
If you want to make extra payments or pay off your car finance agreement early, the lenders won't charge you any fees. Alternatively you can trade in your car with outstanding finance and refinance for a new finance agreement.
If you’ve applied for a car loan in a bank, car dealer or another car loan company and have not been successful, we may still be able to help you. Here at Carplus we have over 20 car finance lenders on our panel who specialise in helping customers with poor credit to get a car loan.
We work with a panel of over 20 car finance companies which means that we can assist customers with poor or bad credit history to get accepted for car finance. We understand that you are not just a number on credit profile, so we consider all personal circumstances in getting you a tailored car finance deal. We compare a variety of car finance products from UK’s top lenders in getting you the best rate.
Yes, you can choose a car from any reputable dealer across the UK.
You won’t need a deposit in most cases. This means that lenders will finance the 100% value of the car. Simply get your quote today to see how much you can save on car finance with us.