Car Credible has Launched its New Website and Rebranded

Our new website and rebranding are now live!

Car Credible is delighted to announce that our new website and rebranding are live. We've been working on this for the past few months and are delighted to finally showcase it to you.

Car Credible aims to make car finance simple. We believe that our new site and everything that comes with it will allow our users to better understand their car finance deals and make more informed decisions about their options.

Car Credible was founded and launched in 2020 by Jae Chalfin and Niall Hughes. It is a fintech company on a mission to help people get into better, more cost-efficient car finance deals.

Do you have a car on finance and would like to reduce your monthly repayments? Sign up with Car Credible today; we could help you save money on your deal.

Check your deal now

Whether you require a car for the school run, to get to and from work, or just to show off, we understand that car finance can be overcomplicated, and many people are unsure if they are in a good deal or not.

Car Credible's proprietary platform enables users to refinance existing car finance deals to lower monthly repayments and reduce their APR, take out new finance to get into their dream car or renew an existing finance deal to switch from one car and finance deal into a better one.

Car Finance Deal Checker

Car Credible's Car Finance Deal Checker works to help us understand your car finance deal so we can create your personalised dashboard and give you all the information you need to help you switch to a newer car or save money on your deal.

All you need to do is enter your car and finance details, alongside your name and email, to allow us to create your dashboard. We will then show you all the information you need to know about your deal and allow you to make an informed decision about your car and money-saving options.

Signing up is a great way to get a full overview of your current finance deal and all the help required to get into a newer car or better deal.

How do I Use the Car Finance Deal Checker?

  1. Sign up to Car Credible - Sign up to Car Credible by providing your car, finance and personal details.
  2. Access your Dashboard - Access your personalised dashboard and discover the equity in your car, your early settlement figure, your remaining balance on your car, and much more!
  3. Monitor your Car Finance Deal - Monitor your car finance deal over time, and come back every month to see how your deal has changed. Don't forget to update your mileage regularly to allow us to provide you with the most accurate information.
  4. Change your Car Finance Deal - When you decide to get into a newer car or want to see if you can change your finance deal, hit the 'Get my quote' button within your dashboard.

Get Car Finance with Car Credible

Whether you wish to upgrade, downsize or just fancy a change, a newer car and finance deal could be available. You can discover the finance options handpicked for you and choose the car you want based on your affordability.

How Does Car Finance Work?

Car finance works by applying for a loan from a lender to purchase a new or used vehicle which you repay in affordable, manageable chunks each month. Before applying for a loan, you should have an idea of how much you wish to borrow and the length of time you want to pay back the loan.

You can also put a deposit down to help reduce the loan and the amount required to pay monthly. Alongside the amount you borrow, you should expect to be charged interest on top of that.


What Types of Car Finance are Available?

Car finance is the broad term to describe the variety of loans available. The three most popular loan types are Personal Contract Purchase (PCP), Hire Purchase (HP), and Personal Loan.

Hire Purchase (HP)

HP loans are secured against the car, but you will own the car outright once you have made the agreed number of payments. The monthly payments are typically higher than on a PCP deal because there is no optional final balloon payment left at the end.

Personal Contract Purchase (PCP)

PCP loans are also secured against the vehicle but you won't have the option to own it outright unless you pay the balloon payment. If you decide that you don't want to own the car, you can hand it back to the lender or use any positive equity you have in the vehicle to use as a deposit on something new. You will pay fixed monthly payments throughout the agreement.

Personal Loan

Personal loans are when you borrow the full amount of money to pay for the vehicle and own it outright from the start. Then like PCP and HP, you will make fixed monthly payments to repay the loan borrowed. As you own the car, you can sell it at any time you like while making the repayments.

Refinance with Car Credible

Refinancing is a great way to reduce your monthly outgoings and get into a better car finance deal to suit your circumstance. You could refinance your deal and save money on your existing deal.

What is Car Refinancing?

Car refinancing is the process of taking out a new finance agreement to pay off your existing car finance deal.

When you refinance, your new lender will settle your outstanding payments with your current lender, with any positive equity in your previous deal going towards the deposit of your next vehicle.

If you are in negative equity, you may have to settle the difference yourself before getting into a new finance deal.

Why Would I Want to Refinance my Car?

Refinancing aims to help you get into a better financial position. Circumstances change over time, and when you got into your current deal, you may have had a poor credit score and were offered a high APR.

  • You may have since improved your credit score and thus could be eligible to reduce the interest rate.
  • You may no longer be able to make your existing repayments, so you want to reduce your monthly outgoings.
  • If you were in a joint car finance deal, your situation may have changed and you now just need one for yourself.
  • Your PCP may be coming to an end and you want to keep your car but can't afford the balloon payment.

No matter what your situation, refinancing can be a great option.

Check your deal now

Car Finance Calculator

The car finance calculator works to help you discover your affordability when it comes to taking out a car finance deal. To start, you will need to enter how much you wish to borrow, how much deposit you would like to put down and if you wanted to have a final balloon payment and be on a PCP deal. 

We then ask for you to enter how long you'd like to take to pay back what you'd be borrowing and the interest rate you'd ideally like to pay back. From here, we will calculate what you should expect to pay each month and help you identify your affordability.

How Do I Use the Car Finance Calculator?

To use the car finance calculator, follow these five simple steps:

  1. Enter the amount you wish to borrow, the amount of deposit you wish to put down and the final balloon payment you'd want to pay if you know you want a PCP finance deal.
  2. Decide how many months you wish to make your repayments and the interest rate you'd prefer to pay back.
  3. We will show you your estimated payments and you can decide if they work for you. If they don't, you can go back and adjust the figures you had previously inputted into the car finance calculator.
  4. You can view our advice based on the information you have submitted which we have calculated for you. Here, you may be able to discover how you could save money now and in the future.
  5. Once you are happy with the calculation we've provided for you, go ahead and apply for finance and get the car of your dreams.


Can Car Credible help me get out of my existing car finance deal?

If you have an existing car finance deal, Car Credible could help you get into a new vehicle with a new loan, or refinance your existing deal and get into an agreement with more favourable terms. We identify the optimal time to sell, renew and refinance your car and finance deal.

Does Car Credible help people with bad credit?

While it can be more challenging to help those with poorer credit, Car Credible works with finance partners who have a panel of lenders that can help people no matter what their credit score. We can't guarantee we'll be able to help but will do all we can to find a lender suitable for you.