Overview: CarFinance 247 Reviews
Determining the best way to finance a new car is arguably just as important as deciding on a car that is right for you. In this article, we will take a closer look at CarFinance 247 reviews to learn how they help their customers secure cost-effective car loans that will set them well on their way to getting behind the wheel of the car they need.
About CarFinance 247 (Reviews & Overview)
Founded in 2006, CarFinance 247 is the brainchild of Reg & Louis Hix — two brothers with a family background that prepared them for the task of starting a business with automobiles as the focal point.
With roots in the industry hailing back to their father and grandfather, the brothers found their niche in helping UK residents gain access to multiple financing options to achieve their car-buying goals.
They secured their spot in the market, honing their business via the internet, and seek to provide their customers with a level of service that surpasses that of their competitors.
Additionally, they have built their business around making car financing accessible to those who may have been denied in the past. The combination of their broad industry knowledge as well as their commitment to their clients has made them strong competitors in their field.
How Do I Secure a Car Loan Through CarFinance 247?
Many who have never received a car loan ask the question, “How does car finance work in the UK?”. This can indeed vary, depending on which company you’re dealing with.
The advantage of CarFinance 247 is that they are a broker rather than a direct lender. They operate by matching their customers with the car loan that is most compatible with their needs. This essentially allows car buyers to “shop around” and compare pricing with over 100 products that various companies may have to offer.
They also offer multiple insurance products that can benefit and protect their customers in ways that other companies may not. You can watch a video here explaining the options they offer to those who may be looking for additional coverage.
Those interested in securing a loan must complete a short application process in order to be considered. The application asks for details pertaining to the vehicle purchase, including the amount to be borrowed, the type of vehicle, and personal information such as residence and employment history. Once submitted, customers are notified by email or text message whether their application has been approved or declined.
Image Source: Secure a Car Loan
When an application is approved, a personal advisor from CarFinance 247 will follow up with further details concerning your pending loan as well as the next steps toward successful vehicle financing. Your advisor will discuss your monthly payments and any other requirements that will take effect once the agreement has been made. Your advisor serves as a resource to address any concerns you may have on the road to paying off your loan and is available to answer any questions pertaining to your payments.
After the preliminary discussion has taken place with the assigned advisor, clients can move forward in choosing a vehicle, if they have not done so already. This will prompt the necessary documentation to be sent for your signature. Once the fully executed documents have been received, the funds will be released to the dealership of the client’s choosing, and they are free to obtain their financed vehicle at any time.
What if I am Self-Employed or Have Sustained a Poor Credit History?
CarFinance 247 provides options for those who have a poor credit history or irregular employment history. Their advisors work closely with applicants who may not have qualified for previous loans, whatever the cause might be. Although loan approval is not guaranteed, they are willing to seek out options for those with a history of financial difficulty.
They also are willing to work with students or those with little to no credit history to find suitable options. That being said, these applicants must possess a valid UK licence as well as a bank account and up-to-date employment information.
Does CarFinance 247 Offer Financing for Other Vehicles?
Even though the name may suggest otherwise, CarFinance 247 reviews indicate that they offer financing for a number of other vehicles, including:
Financing for these vehicles is, of course, subject to approval, as is the case for car financing, although the initial deposit may change dependent upon vehicle pricing.
What Do Consumers Have to Say? CarFinance 247 Reviews
As most of us know, consumer reviews are key in comparing the quality and dependability of a product or service. CarFinance 247 reviews abound and include a wealth of information.
The Pros (Positive CarFinance 247 Reviews)
“Simply great service, a dedicated advisor who not only helped but went extra miles to make sure that I got the car I wanted and at a competitive rate and who made the entire process easy pleasurable and faultless. I would recommend these guys to anyone.”
Another consumer seemed to be in agreement when he said, “A most helpful and dedicated organisation which meets its aim of making the process as simple for the customer as possible.”
“The service was superb and took little over a week to complete. My case was quite different as I'm self employed, however M.G was very professional in his manner and kept daily contact with me liaising with the lenders. I'm now the [p]roud owner of my favourite convertible car.”
Overall, many consumers extol the level of service as well as the efficiency that CarFinance 247 offers its clients. Reviews of CarFinance 247 provide those looking for vehicle financing options with solid and encouraging feedback about the company and its services.
The Cons (Negative CarFinance 247 Reviews)
While many consumers have given their CarFinance 247 experience many accolades, a few have voiced their concerns about the company’s wait times and some of the more administrative aspects of the business.
One consumer vocalized her disappointment with a 4-day delayed response from one of their customer service representatives (though CarFinance 247 promptly responded to this reviewer, assuring her that they would further investigate the issue she raised).
Additionally, a review at ww2.feefo.com stated that communication via email and phone was excessive and that there was a delay in a payment to the client’s chosen dealership.
In reading through several reviews, much of the disappointment with the company from customers has been due to either over-communication or a lack thereof. Still, when taking into consideration the majority of the reviews, there are far fewer complaints than praise in regards to how they conduct their business.
Industry Praise for CarFinance 247 (CarFinance 247 Reviews)
It’s worth mentioning that CarFinance 247 has garnered nationwide attention in the United Kingdom. According to Manchester Evening News, they have been recognized by the Northern Tech awards for being a “leading powerhouse in the region’s technology sector” as well as “Northern England’s second fastest growing tech company.”
Other awards include 2015’s “Digital Team of the Year” from the UK’s Digital Entrepreneur Awards, “Best Online Broker” from The Money Awards, and the “Lead Generation” award at the Finance & Insurance Awards and Conference.
This is just a sampling of the numerous accolades the company has received from several well-respected organizations.
One press release indicated that at the Made in Manchester awards, the team at Carfinance247 was given the “Entrepreneur of the Year” award in recognition of their “huge success in defining the market plus an impressive growth story and fantastic financial success.”
Summary: CarFinance 247 Reviews
For those on the hunt for an affordable way to purchase the car they have been waiting for, CarFinance 247 has earned many favourable remarks and continues to grow at a pace that surpasses that of their counterparts. They have also gained industry-wide recognition that seems to have gained them that much more attention from consumers nationwide.
That being said, many are uncomfortable with the prospect of obtaining financing online, as it means they are unable to connect with a representative in person. The virtual world is widely navigated, but it can also be daunting where money is concerned. Those willing to venture into the realm of virtual car financing will very likely be satisfied, if consumer CarFinance 247 reviews have anything to say about it.
We hope this article has been informative in regards to your financing options with Carfinance247 and will aid in your quest to find the right fit for you. Best of luck with your search!
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