Car Finance company switch

Dchawla

Hello,

Is there any way that i could switch to a cheaper car finance company as the current one charges 10% interest rate.

neilmcl

Not without getting another company to settle your current agreement. What sort of finance is it - PCP, HP, loan?

almillar

car finance company

Ah, you mean finance company. Get a loan, money goes into your account. Settle the 10% loan with that cash, pay off the loan at the lower rate. There may be a fee to settle early, check this in your car loan small print.
If your credit score is decent, without knowing the amount of finance you need, you should be able to at least halve that rate.
If, for example you've got £4,000 outstanding, you could even get a 0% credit card to be your 'loan'.
The above is all subject to credit checks - this site can help you find the best loan and credit card rates, and can do a soft check on them (which doesn't get recorded against you as an application) to tell you the LIKELIHOOD (not certainty) of you being accepted.