Determining the most cost-effective way to finance a car depends on various factors, such as the type of loan, its duration, and the annual percentage rate (APR). It’s essential to note that the loan with the lowest monthly repayment may not necessarily be the most economical option, as you could end up paying more in interest over the loan term. PCP car finance might emerge as the most economical choice for you. Unlike HP and personal loans, PCP doesn’t require you to borrow the entire vehicle’s value. Instead, you borrow the disparity between the current price and the lender’s projected value of the car at the end of your agreement, known as the Guaranteed Minimum Future Value (GMFV). However, keep in mind that you won’t own the car at the end of your loan unless you opt to pay the balloon payment.

When you submit an application with Car Finance Now, we’ll conduct a soft credit check to determine if we can secure approval from one of the lenders in our panel. While this may be recorded on your credit report, it should not have an impact on your credit score. Only if you decide to proceed with a financing option will a hard credit check be conducted, potentially affecting your credit score.

You can apply for a car loan with Car Finance Now if you’re over 18 years old and have a minimum of three years’ address history in the UK.

At Car Finance Now, you’ll receive a decision within minutes. Simply submit your application, put the kettle on, and by the time you’ve finished your tea, you’ll have your decision. If we’ve secured you an approval in principle, your designated account manager will contact you to confirm your information and go over the next steps.

The cost of car finance generally includes the borrowed amount, the accrued interest, and any additional fees that you’ll be paying over the loan’s repayment period.

If you opt for HP car finance, your monthly repayments will go towards repaying a portion of the loan and the interest. The interest rate offered is determined by several factors, including your credit score. Improving your score could potentially qualify you for better rates.

Absolutely, we do accept part-exchanges.

When you part-exchange, it acts as a down payment for your new car, similar to a deposit. This lowers your overall loan amount, resulting in reduced monthly payments.

Having a part-exchange could potentially increase your chances of approval, as it means requesting a smaller loan amount, thus expanding your options. If you prefer to make a cash deposit, we gladly accept those as well!

We often assist customers who have faced rejection elsewhere.

If you’ve applied elsewhere, like at a bank, car dealership, or another car finance broker, and have been turned down, you might feel discouraged. However, that doesn’t mean all hope is lost. Some of our partnered lenders specialize in providing car finance solutions for individuals with poor credit. Rest assured, we’ll do everything we can to find the suitable finance option for you.

Working with a broad network of lenders allows us to aid customers with diverse credit histories in obtaining car finance. We frequently assist individuals with fair credit. Understanding the individuality of each customer, we carefully analyse your application to craft a tailored quote that meets your specific needs. With multiple suitable options available for customers with fair credit, we are confident in our ability to assist you in securing a competitive finance deal.

Absolutely, you have the flexibility to select a car from any reputable dealership in the UK! 

Once you’ve found a car that catches your eye, simply share the details with your account manager, and they will take care of the rest.

However, you’re not restricted to choosing a car from our search options. If you need assistance in finding the ideal vehicle, your account manager will gladly lend a hand. Just inform them of your preferences, and they will be happy to assist you in your search.