How to Get a Used Car Finance Quote Quickly

How to Get a Used Car Finance Quote Quickly

5 January 2015 Concept Car

Are you looking for a used car finance quote? Then you’ve come to the right place. At Concept Car Credit, we’ve helped thousands of customers in buying a car – even with bad credit or a poor credit score.

We’re a dealership with our own finance company. This means we can offer you highly competitive rates without the usual bureaucratic problems of a bank.

Read on to find out more about our approach to a car loan and how we calculate your monthly payment. Or use our car loan calculator to get results quickly.

Used car finance: An overview

More and more people in the UK have to resort to used car finance. At least on paper, there is nothing wrong with that. After all, used cars have become more reliable than ever and thanks to their comparatively low prices, they have made it possible to get back into the driving seat even if you’ve experienced financial difficulties in the past. So with all of these things in mind, which are so many in the UK disappointed with used car finance? In this article, we’re devoting some time to explain the issues with used car finance to you – as well as offering you possibilities of successfully applying for a quote.

A car: Vital

The mere fact that there is a bustling market for used car finance is living testimony to the ongoing importance of cars for both private and business purposes. If you’re looking for a car today, you can either visit your local dealer, select from one of many online autotraders or even compare prices at an online auction (although we certainly wouldn’t recommend this!). This has mainly benefited the used car industry, since it has made it far easier for consumers to compare deals with a few mouse clicks and especially to gather user experience online.

Used car finance: Growing rapidly

The impact on the used car finance industry has been momentous. Over the past few years, literally hundreds of companies have flooded the market, all offering seemingly attractive conditions. And that’s not all: Many local companies have sprung up as well, allowing you to apply for a loan online, use their car loan calculator and to then visit the dealer on location. This combines the benefits of online- and offline models.

Online car finance can rightfully be regarded as one of the most dynamic sectors in the finance sector and as much as this means you can always find an interesting offer, it also means the sheer amount of providers and deals can be confusing: Getting too many car loan quotes can be as confusing as getting none at all!

Used car finance: Problems

What’s more, used car finance still has plenty of issues. And if you’re interested in using it to buy a car, you should be aware of them:

  • The less you’re able to actually see and review the car, the harder it is to make an informed choice.
  • Used car finance is a cost-sensitive sector, but price is not everything. Take potential services into consideration as well and factor in the rewards of a great support. Also, the nominal rate may hide side-costs hidden away in the small print.
  • Used car finance may get you a loan, but not always the car you want. In some cases, this is acceptable, just make sure you know what to expect.

Quick procedures

One of the main issues of used car finance is getting a quote quickly. This has to do with the fact that many financial companies will run extensive tests on your credit history in a bid of determining the risk of the transaction. In some cases, this can be a serious problem, especially if you need a car at short notice. At Concept Car Credit, we therefore place major importance on speeding up the process as much as possible:

  • You can apply for a quote for used car finance online, using our easy to use form.
  • We will verify if you’re eligible for a loan and give you a quote.
  • After you’ve accepted the quote, we can then work out the details of the deal. This doesn’t take much time, so you can usually drive away with your new car within days after you’ve applied for it.

If you’re looking for fast and reliable auto financing, you’ve come to the right place. Let us help you find the offer you need.

How we work out your monthly payment

Your car loan quote depends on a few easy to understand factors. Unlike a bank or a more traditional finance company, we don’t place top priority on your credit score. We understand that you may have built up bad credit through events outside your control.

Instead, our used car finance quote is based on the following considerations:

  • How much are you able to actually pay each month? A high monthly payment will help you pay off your debt more quickly. But it can also cause you to default on the car loan.
  • How high is the risk of you defaulting on the loan? By keeping the car payment per month low and avoiding unnecessary options, we can bring that risk down considerably.
  • Can you pay a deposit? This may be useful in some cases, but it is not always required to get an auto loan.

Taking these points as a starting point, we then work out the exact numbers. Most of our customers are surprised by how competitive our auto loan rates are, considering we take on many customers who have previously been rejected by their bank.

5 January 2015 Concept Car