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Car Finance Explained

Get the right Car Finance Deal

Some people are unsure about what car finance actually is, our team here at What Credit are on hand to answer any questions you may have about car finance. Car Finance is basically a loan in which you choose an amount to borrow based on the cars price, the term you would like to pay the loan back over and the interest rate you will be charged. For more information give us a call on 01622 250 150.

Hire purchase, personal contract plan (PCP) or personal loan: which is best for you? We explain your car finance options to help you decide!

car-finance-explained

What Credit Ltd are a Credit Broker and will search our panel of lenders to match the best loan to suit your personal circumstancesLOGO BANNER

  WE WILL SEARCH THE MARKET PLACE TO FIND A FINANCE PACKAGE TO SUIT YOU
Excellent / Good Credit Score: Loan amount: £5,000 - 36 Monthly Payments: £149.51 - Total cost of credit: £382.50 - Total amount payable: £5,382.50    - Representative example: 5.1% APR
 Good / Fair Credit Score: Loan amount: £5,000 - 48 Monthly Payments: £139.57 - Total cost of credit: £1699.36 - Total amount payable: £6699.36 - Representative example: 16.8% APR
  Poor Credit Score:   Loan amount: £5,000 - 48 Monthly Payments: £149.46 - Total cost of credit: £2,174.08 - Total amount payable: £7174.08 00 - Representative example: 21.8% APR
  Very Poor Credit Score:   Loan amount: £5,000 - 60 Monthly Payments: £153.00 - Total cost of credit: £4,180.00 - Total amount payable: £9,180.00 - Representative example: 31.7% APR
 Guarantor Finance:   Loan amount: £5,000 - 48 Monthly Payments: £213.88 - Total cost of credit: £5266.24 - Total amount payable: £10266.24 - Representative example: 49.9% APR
BECAUSE CUSTOMER PROFILES ARE DIFFERENT, FINANCE COMPANY RATES, TERMS & CONDITIONS & ANNUAL PERCENTAGE RATES MAY VARY BETWEEN CUSTOMERS
PLEASE BE AWARE THAT IF YOU HAVE A POOR OR BAD CREDIT SCORE, THE COST OF CREDIT MAY BE HIGHER ( AS ILLUSTRATED ABOVE )