How It Works

The Better Way To Finance Your Next Car

how car finance works
How It Works

Rates from 6.9% APR. Representative APR 19.8%

How CarFinanced Works

Car Finance Made Simple

Are you looking for a great car finance deal? Well at CarFinanced, we have you covered. We find the best deals from over 20 leading car finance lenders with no hidden fees or charges. Follow these 5 simple steps, and our team will take care of the rest.

Step 1

Find your perfect quote

Your quote will not impact your credit score

Complete our online application form in a matter of minutes. We will then find you the best car finance deal from our vast panel of lenders.

Step 2

Approval in principle

Connect with our team

Sit back and relax. A member of our team will compare lenders to find the perfect car finance deal. Admin? You don’t need to worry as they will take care of that as well.

Step 3

Choose your car

Choose from a reputable dealer

Choose your car from any reputable car dealership and we will arrange the finance for you. Need help looking? We can provide that too. We can also part exchange your old car, or help with any outstanding finance on the vehicle.

Step 4

We take the stress away

All the checks free of charge

Now you’ve found your perfect car, you can let us take over. We complete the paperwork for you and chase the lender while you get ready to take delivery.

Step 5

Shake hands and drive

A simple signature and you are ready to enjoy your new car!

Ready to get started?

Applying for car finance with us can be done in a matter of minutes and won’t affect your credit score.

Frequently Asked Questions

At CarFinanced, we allow everyone to check whether they are eligible to be approved for finance within a few minutes. Share some small details with us and our lenders will use that information to carry out a soft credit search to give you an answer with the best deals right away.

If you have a poor credit history, you can still apply for car finance. The company will look at your personal circumstances such as; Your employment status, age, income, loan amount, alongside your credit history. You will then receive your exact interest rates and payments.
Yes! You can part-exchange your car as a deposit.

Annual percentage rate (APR) is the interest rate applied to your loan. Predominantly, it is the yearly cost of your borrowing. You will pay this on top of the sum that you have applied for. If you take out a long-term loan, the total amount payable will be more, as you will be paying interest for a longer amount of time.

Yes, if the provisional is less than 3 years old.
Our average transaction takes less than 24 hours to complete from beginning until the end.
Unfortunately, you are legally required to be 18 years or over in order to take out car finance.
If you choose HP, you will own the car at the end of your finance term, whereas if you opt for PCP, you can either choose to hand the car back or pay a balloon payment determined by the final purchase price of the car.
If you would like someone else to be able to drive your car, you may be able to add them as a named driver on your car insurance policy.
With your permission, we can pass your details on to insurance companies who can provide this for you.
Depending on the age of the car and the lender, between 12-72 months.
To be eligible for a quote, you need to be at least 18 years old, have a drivers license and earn at least £1000 per month.

Representative example:
Borrowing £5,500 over 4 years with flat rate of 10.4% and 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 total amount payable of £7,782. Finance subject to status. 18+ only.