How Car Credible Works

Car Credible identifies the optimal time to sell, refinance and renew your car finance deal, allowing you to get a newer car.

Car Credible is officially regulated by the Financial Conduct Authority (FCA), meaning we are now able to financially assist our users.

Last week, we launched the next stage of our product which aims to help users upgrade or save money on their car if they are in a good position to do so. Our bespoke algorithm calculates your position based on a number of factors including your equity position, the length of the car finance agreement, and its early settlement figure.

Over the past couple of years, we've been building a great product to help people get out of their car finance deal and into a new car earlier than expected, potentially saving them money on the amount they repay per month.

Do you want to upgrade your car or save money on your car finance deal? Sign up for free today to see if you are eligible.

Check your deal now

Not only that but if your personal financial circumstances have changed and you want to get into a more expensive car, paying more per month than you were, we can also help with that.

We want to make car finance as simple as possible as we are aware that it can be overcomplicated, so we've put this article together to help give you a clearer picture of how our product works and what each part of your personalised dashboard means, which you'll have access to once you have added your finance deal and created an account.

How Car Credible works

1. Sign up to the Deal Checker

Simply enter your registration and mileage and then your car finance details. Once you've done this, create your account to view your deal in full.

2. Check your deal score

Your personalised dashboard will let you know all the details of your current deal, as well as let you know if you are in a position to upgrade or save money on your car.

Don't worry if you aren't, we will automatically update your deal every month and you can see how your position changes.

3. Get approved

Once in a position to upgrade or save money on your car, you can click through to see the car finance offers available to you.

You will be able to take up your early renewal option, allowing you to replace your car early and take out a new finance plan.

4. Choose a car

Your preferred finance partner will help you find your new car unless you already have one in mind. All that is left to do is wait for your early settlement agreement from your current finance company.

5. Sign and drive

Once you are happy with the offer you have received, sign on the dotted line and drive away in your new car!

Your personalised dashboard

What is my early settlement figure?

Based on your outstanding payments, length of term, and car value we have created an estimated early settlement figure. You can contact your finance company directly for an accurate figure.


What is my equity position?

This is the difference between your car's current value and outstanding debt. If your remaining debt is less than the car value, you are in a positive equity position.

How do I use my dashboard?

Your profile page gives you a snapshot of your current deal showing how much your car is currently worth, your early settlement figure, and your equity position. These values will update each month as you pay off your finance agreement and as your car depreciates.

The dashboard page allows you to dig deeper into your existing finance deal showing you exactly what you have already paid off and what remains.

How often does my dashboard update?

All values on your dashboard are updated on a monthly basis.

Deal score and equity position

We use your current car finance information to work out your car’s deal score using our own data science and a proprietary algorithm. There are four possible positions available to be in.

  • Red means that you are quite far away from being in a position to upgrade or save money on your car.

  • Amber means that you are not far away from being able to upgrade or save money on your car and you should start thinking about your options.

  • Green means that you are in a great position to upgrade or save money on your car. Here are some possible options available to you: get out of your current car deal now, get a new, better car for the same price you're paying per month now, or get a new, better car with different terms than what you're paying now. You should visit your dashboard to see the offers available to you.
Check your deal now

This service is absolutely free to use and we take no money from you whatsoever. 

When you are in a position to upgrade or save money on your car, you can click through to see the car finance offers available to you. Once you click on your preferred offer, you will be directed to the relevant finance company's website where you can continue your application directly with them.

We work with a panel of lenders and you can have confidence that you will have been offered a wide range of the best options to suit your needs and budget.

Your preferred finance company can help you find your new car if you don’t already have one in mind. You should contact your current car finance company to receive your early settlement figure and once that’s paid off and you are happy with the new offer you have selected, you can sign the deal and drive away with your new car.


Who founded Car Credible?

Car Credible was founded by Jae Chalfin and Niall Hughes in 2020. The company is based in London, UK.

Can Car Credible help me with my car finance?

If you have an existing car finance agreement or you want to get into a new car finance deal, Car Credible can help you. All you need to do is either sign up and create an account if you already have finance, or apply for finance if you don't currently have a deal.