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.
Carplus will find the best car loan rate from our panel of lenders and will offer you the best possible deal. We don’t charge fees, but we earn a commission. This does not influence the APR you’re offered in any way.
There are a number of reasons as to why you may have been refused car finance in the past. Each lender uses a different eligibility-checking system, so the specific reasons will vary. However, here are the most common:
We specialise in securing car finance for people who have been refused previously, and we can offer you a range of finance options, such as 0% deposit loans.
Once you’ve filled in our online application form, we’ll perform a soft credit check. This allows us to assess your likelihood of being accepted before you are passed onto our panel of lenders. If it’s unlikely that you’ll be accepted, we won’t pass you on to receive a formal credit check. Failing a formal credit check will further hinder your credit score, as such we are careful only to pass on applications that we are confident will be approved.
While we pride ourselves on being able to help people who have been refused car finance in the past, we cannot guarantee that your application will be successful. As such, we recommend that you do the following in order to help your application.
Get in touch with us today at 0203 389 7779 to find out how we can help you.