Enter your keyword


Our car loans calculator is a perfect tool to workout exactly what your monthly repayments may be.

Our car loans calculator is a perfect tool to workout exactly what your monthly repayments may be.

We offer low interest rate car lease from as low as 6.9%. No costs. No documents. No deposit needed.

Bad credit experts

Exact exact Same day payout

Totally totally Free eligibility check

Add up to borrow:
To repay over:

Presuming your credit profile is

Car lease price XX percent APR
Cost of credit ? XXX
Total payment ? XX, XX. XX

Representative example – Borrowing ?5,500 over 4 years by having a representative APR of 19.8per cent, and a deposit of ?0, the total amount payable is ?162 each month, with a complete price of credit of ?2,282 and a total quantity payable of ?7,782.

We compare motor finance quotes from all of the leading prov We partner with all the UK’s trusted motor finance loan providers, to make sure you get the maximum benefit suitable car finance quotes from across a big range of discounts.

Relating to press reports and general market trends from industry analysts for instance the community of Motor Manufacturers and Traders (SMMT), nearly all purchasers utilize some kind of motor finance when selecting a motor vehicle.

Nine times away from ten, getting a motor car finance to fund your purchase is completely hassle free.

You will find occasions, however, with regards to could be just a little more complex. And something of these is whenever you’ll need what exactly is commonly called equity finance that is negative.

What exactly is negative equity?

In the event that you car or truck finance for the purchase of the present vehicle, you are able that the automobile happens to be worth lower than the total amount still outstanding regarding the initial loan. The automobile could have been involved with an accident, for instance, or its value may have fallen than you had imagined because it has depreciated at a faster rate.

In either case, you are in a few trouble should you want to offer the car now and change it with another — the arises from the purchase are inadequate to repay the first loan and you’re remaining utilizing the outstanding balance to cover. So how exactly does that affect your capability to boost further unsecured loan vehicle finance so that you can purchase your new car?

Negative equity finance

This is where our cap cap ability only at CarFinance Plus to boost negative equity vehicle finance in your stead will come in.

It gets its name through the undeniable fact that, whenever you trade in your present car in component change for a brand new one, we could raise adequate finance to allow both should be met. Namely:

  • To repay the balance that is outstanding your initial car lease; and
  • To fund the acquisition of the replacement brand new or car or truck.

How it functions

Supplied you present automobile is accepted by a dealer to some extent trade for an innovative new purchase, the finance we arrange for you is immediately utilized to clear your outstanding debt and paid to the dealer when it comes to brand new or used car you may be planning to buy.

Whether this can be an answer which works for you personally depends upon a true number of facets, chiefly including:

  • The total amount of negative equity — put another way, the total amount of the outstanding financial obligation on your initial loan if your present automobile is accepted in component change;
  • The total amount you might be investing in the car at this point you installment loan online virginia need it; and
  • The value added to that brand new vehicle by the finance company — and when that is greater than the price tag, the finance company may sometimes expect you’ll provide a lot more than the dealer requires one to spend.

Obviously, there is certainly a limitation into the level of negative equity which can be cleared in this manner and, utilizing the above factors all in your favor, we might manage to settle up to ?1,000 when you look at the debt that is outstanding your current car once it’s been exchanged in.

Clearly, since big a deposit that you can handle from the brand new purchase increases your odds of success. Additionally you have to show a clean record on some type of current credit, are currently in work when you look at the UK, and also a UK driving licence.

48 monthly premiums of