CAR FINANCE with part exchange

Apply for car finance without an upfront deposit and see if we can match you with a trusted UK lender.

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Car Loans UK is a credit broker, not a lender. Rates from 10.9% APR. Representative 21.6% APR (fixed).

Representative Example (Hire Purchase): Borrow £6,000 with £0 deposit over 60 months with a representative 21.6% APR (fixed). 60 monthly payments of £157.92. Final Option to Purchase Fee: £10. Total cost of credit: £3,485.20. Total amount payable: £9,485.20. Car Loans UK is a credit broker, not a lender. This is an example only; all finance is subject to status. Lender fees may apply.

Car Finance

Change your car even if you still have finance to pay

Want to change your car but still have finance outstanding on your current vehicle? That doesn’t necessarily mean you have to wait until your agreement ends.

Regardless of outstanding finance, with Car Loans UK you can apply for finance on your next vehicle while using your current car as a part exchange. If you do have outstanding payments to make on your existing vehicle, we can help account for that as part of the changeover, subject to your vehicle valuation, lender criteria and affordability.

Whether you’re looking for something newer, need a different type of car or simply want to explore your options, our straightforward application makes it easy to get started.

Apply online in around 60 seconds and see what options may be available.

QUICK AND SIMPLE FINANCE TOOL

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CALCULATOR

Discover how much you could borrow
before you apply

Car Loans UK is a credit broker, not a lender. Rates from 10.9% APR. Representative 21.6% APR (fixed).

Representative Example (Hire Purchase): Borrow £6,000 with £0 deposit over 60 months with a representative 21.6% APR (fixed). 60 monthly payments of £157.92. Final Option to Purchase Fee: £10. Total cost of credit: £3,485.20. Total amount payable: £9,485.20. Car Loans UK is a credit broker, not a lender. This is an example only; all finance is subject to status. Lender fees may apply.

CAR LOANS UK: HOW IT WORKS

A step by step guide:

Our aim at Car Loans UK is to find you the perfect vehicle and finance plan. Our experienced consultants do the hard work,
saving you the time and effort. We will actively source you the ideal used car and finance package from our panel of lenders.

STEP 01 ⸺

FILL IN
DETAILS

Fill in your details using the form above or click here to begin the process.

STEP 02 ⸺

WE SORT YOUR
PART EXCHANGE

We'll value your existing car and any outstanding finance. Once the old finance is settled you can take out a new agreement for your part exchange vehicle.

Step by step 3. New

STEP 03 ⸺

SOURCE
FINANCE

We work with a panel of UK lenders to try and find you a finance agreement and payment plan that suits your budget. We carry out the relevant checks and keep you informed every step of the way.

So, let Car Loans UK take the strain of searching for a new car and finance plan away, and begin your journey today.

Representative 21.6% APR (fixed)

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Part Exchange Car Finance

Can I part exchange a car with outstanding finance?

Yes, it may be possible to part exchange your car before you’ve finished paying for it.

The key figures are your finance settlement amount and the current value of your car. Comparing the two shows whether you have positive equity, no significant equity, or a shortfall.

Your situation
What it could mean
Your car is worth more than you owe
The existing finance can be settled and the remaining value could contribute towards your next car.
Your car is worth roughly what you owe
The vehicle value may broadly cover the settlement of your existing agreement.
You owe more than the car is worth
There is a shortfall to consider when arranging your next vehicle finance.

Having a shortfall doesn’t automatically mean you can’t change your car. Depending on the amount involved and your individual circumstances, we can explore whether this can be accommodated within your next finance arrangement, subject to lender approval and affordability.

PCP Part Exchange

Can you part exchange a car on PCP?

You may be able to part exchange a car that is currently on Personal Contract Purchase (PCP), including before the agreement reaches its scheduled end date.

Your existing lender can provide a settlement figure showing what is required to clear the agreement. This can then be compared with the current value of the vehicle.

Towards the end of a PCP agreement, your options can include paying the final balloon payment to keep the car, returning it in line with the agreement terms, or changing to another vehicle.

If you’re ready for something different, part exchanging can give you another route without having to pay the balloon payment simply to own the existing car first.

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Change Your Vehicle

Can I downgrade or swap my car on finance?

Your circumstances can change during a finance agreement. Maybe you no longer need such a large vehicle, your running costs have increased, or you simply want to move into something more suitable.

01

You generally can’t just transfer an existing finance agreement from one vehicle to another.

02

The current agreement normally needs to be settled and new finance arranged for the replacement vehicle.

03

Car Loans UK can help you explore the process whether you’re looking to downgrade your car, upgrade it or simply swap to something different.

Will a cheaper car lower my payments?

Remember that changing to a cheaper vehicle doesn’t necessarily guarantee lower monthly repayments. Your new payment will depend on factors including the amount financed, your existing finance position, agreement term and the finance offer available to you.

READY FOR CAR
FINANCE with part exchange?

Apply online today and see your finance options in minutes

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Negative Equity

What happens if I owe more than my car is worth?

This is known as negative equity.

For example, if your settlement figure is £10,000 but your car is valued at £8,500, there is a £1,500 shortfall.

Example
Amount
Current finance settlement
£10,000
Part-exchange value
£8,500
Finance shortfall
£1,500

Negative equity does not necessarily prevent you from changing your vehicle. Depending on your circumstances, there may be options for dealing with the shortfall as part of arranging your next finance agreement.

Any new finance remains subject to affordability checks, lender criteria and approval.

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Car Finance Agreement
01

Can you change name on a car finance agreement?

Car finance agreements are normally taken out in the name of the person who applied for and was approved for the credit.

You generally can’t simply change the borrower’s name and transfer responsibility for an existing PCP or Hire Purchase agreement to somebody else.

If the current agreement no longer suits your circumstances, another option may be to settle the existing finance and arrange a different vehicle and finance agreement instead, subject to approval.

02

Can you scrap a car on finance?

If a vehicle still has outstanding PCP or Hire Purchase finance, you shouldn’t simply arrange for it to be scrapped without dealing with the finance provider first.

The lender still has a financial interest in the vehicle while the agreement remains outstanding, so the agreement will normally need to be addressed before the vehicle can be disposed of.

If the vehicle is no longer suitable and you’re looking to replace it, speak to us about your circumstances and we can explore the finance options that may be available for your next car.

Compare Your Options

Keep your car or part exchange it?

Not sure whether changing your vehicle is the right move?

Keep your current car
Part exchange your car
Continue with your existing finance agreement
Change to another vehicle
Keep your existing monthly repayments
Arrange a new finance agreement
Suitable if the vehicle still meets your needs
Useful if your circumstances or vehicle needs have changed
No changeover required
Existing finance can be dealt with as part of the transaction

Before changing your vehicle, it’s worth considering the total cost of the new finance as well as the monthly repayment.

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Why Car Loans UK

Why choose Car Loans UK for car finance with part exchange?

Having existing finance doesn’t have to make changing your car complicated.

Car Loans UK gives you access to a panel of UK lenders through one straightforward application, while helping you account for your existing vehicle and finance agreement as part of the process.

01

Apply online in around 60 seconds

02

Access to a panel of UK lenders

03

Part exchange even when finance is outstanding, subject to circumstances

04

Finance options for a range of credit profiles

05

UK-based support throughout your application

06

A straightforward way to change your current vehicle

All applications are subject to status, affordability and lender criteria.

Start Your Application

Ready to change your car?

Still paying finance on your current vehicle? You could still be able to part exchange it and move into your next car.

Apply with Car Loans UK and we’ll help you explore your finance options while taking your existing vehicle and outstanding finance into consideration.

Start your application today

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