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.
Simply provide your personal details so we can best match car finance to you.
This type of check will not impact your credit rating or affect your ability to obtain credit.
You’ll see your likelihood of being approved for car loan prior to full credit search.
We know our customers lead busy lives which means they need a service that gets straight to the point. Our car finance eligibility checker is easy to use and guides you through the process step-by-step.
First all of we’ll need to know how much you want to borrow. It’s totally fine if you’re not sure of the exact amount at this stage as that can be finalised later on. But providing a rough estimate will allow us to tell if you can secure a car finance deal. You will have the opportunity to borrow anywhere between £2,000 and £50,000, but the more accurate you can be, the easier it is for us to match you against the right lenders.
At Carplus, we conduct a ‘soft search’ or ‘quotation search’, which takes place before passing your application onto any lender for formal approval. This initial search establishes key information such as your monthly income, outgoing expenditure, type of employment circumstances and any current credit commitments. We do this so you significantly reduces the risk of your application being rejected by a lender which can adversely affect your credit rating.
The Financial Conduct Authority (FCA) requires that, should you wish to continue following this soft credit check, a formal credit check be performed by lenders to evaluate the likelihood of borrowers repaying loans on time. A credit check reveals your history of loan repayments and lines of credit to prospective lenders, and they use it to decide whether to accept your application for a loan.
It should come as no surprise that your employment status and monthly income are two of the most significant factors when considering your eligibility for car finance.
We help those who are:
We have a range of loans to meet almost any financial situation, and while we cannot guarantee the success of any application, we can promise you the best chances of receiving car finance.
We know that some people want to ensure they are eligible for car finance before making a full application, which is why we created our easy-to-use eligibility checker. Our panel of lenders have a fantastic range of deals and repayment plans available, and will take the following into consideration when processing your application:
Our loans range from £2,000 to £50,000 and our repayment time ranges from 18 to 60 months. Our panel of lenders consider the following criteria when making their offers:
Carplus provide car finance deals for people of all age groups and employment backgrounds. From students and part-time workers, to full-time professionals and retirees, our panel of lenders have something to suit you. We are not able to guarantee you will be eligible for car finance, but we do all we can to ensure you have the best possible chance.