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CarFinance247 is a finance broker based in Manchester that arises from MotorMart Ltd. This company was formed by Reg and Louis Rix. Their about section heads the formation year of 2006, although their Facebook page shows 2002. They can be found at the web address of www.carfinance247.co.uk that has received a recent design overhaul. The financing options include Hire Purchase and Personal Contract Purchase and they promote that no deposit is required. The total repayment span is 12 to 60 months, but no specific amounts are disclosed. In the lender section they currently head 8 companies. Some examples include the likes of Close Motor Finance, Moneybarn and Moneyway.

Using their payment calculator, a £10,000 sum over 48 months created a range of prices based on personal credit scores. The total cost was £1154.62 (Excellent), £2011.88 (Good), £3024.71 (Fair) and £4811.50 (Poor). The APRs headed for these examples were 5.6%, 9.7%, 14.5% and 22.9%. Of course, these rates should be treated as mere guides only since they do fetch prices from several different lenders. When putting through a quote at www.carfinance247.co.uk SSL is used on the application form. This company has taken on a CCTA member place that is rare to see in a broker.

If you are looking to reach their customer support team, the listed hours of operation includes Monday to Friday from 8.30am to 6.30pm and each Saturday from 10am to 5pm. As with many finance brokers across the market, 247CarFinance are targeting those who have found it difficult to seek funding elsewhere through bad credit. So if you have CCJs or you are self-employed then you may still be considered here. This firm has been well received to date and they have been growing impressively year-on-year. They aren’t quite as popular as CarLoan4U though who are a major competitor to them, located not too far away in Macclesfield.