Finance Q&A - Change/Amend Finance

Can I swap my car if it's on finance?

I am struggling to understand my finance agreement with regards to what options I may have. I do believe that I am paying a ridiculous amount of money for my car. Do I have the option of trading in and getting something with a monthly rate that is cheaper? My finance is a fixed term loan, and I would have had the car for a year this coming April, can you offer my any advice?

Jayne Travis

Answer from the Stoneacre finance team:

Thank you for your question Jayne, I'm sorry to hear you are unhappy with your current agreement you have in place. The good news is you definitely have the option to trade in your car and look to get something cheaper!

In regards to your rate this based on your personal circumstances, at Stoneacre we use a large panel of lenders which I'm confident can help you get a better deal.

Another bit of good news for yourself is it doesn't matter that you have only had your car just under a year, we have lenders that would look to cover any difference between your car's valuation and what you have outstanding with your finance company if there was any.

All we'd need to get the ball rolling for you is a settlement figure from your current lender and 5 minutes of your time to run through an application. Please call our in-house team on 01405 744186 if you have any further questions.

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Related questions

Can I change my current car on finance for a smaller car?

Hi, I've had a car on finance for 5 years. I was wondering if I can get a different car as the car I have now is too big and I am half way through my 5 years finance. Thanks.

David Kerman

Answer from the Stoneacre finance team:

Hi David, we can definitely help you with this! You can part-exchange your vehicle at any point and get a new agreement. If you would like to make an application we can get you a new line of credit in place and then book you an appointment to see our specialists in branch with your pre approval, which gives you the reassurance you have your new line of credit ready.From here, the specialists in our branch can help you to find a new car that suits your needs better

Change to a bigger car?

I've had my car on finance for 11 months, however my partner is pregnant so I ideally need a 4/5 door car. My current car is a 3 door, is this something that can be done?

Will Gray

Answer from the Stoneacre finance team:

Hi Will, thank you for the question and congratulations on your exciting news!I completely understand your need for changing and this is definitely something we can help you with. You have the option to get a new car with ourselves that suits your needs better, and part exchange your current car with us.I'm confident we can help even though you haven't had your car long as some of our lenders are able to cover any outstanding finance you have left in your new agreement.If this is something you are interested in please give us a call on 01405 744186.

Can I change to a different car?

<p>How long do you have to be through your 5 year car finance, if you feel you would like a different car? Even if that's possible?</p>


Answer from the Stoneacre finance team:

<p>Hi Josh, you can look to change your finance agreement at any time at all. All you need to be aware of is that the earlier you change the more likely you are to have negative equity but with our panel of lenders we have specialists that can help in these situations.</p>

Can I change my current car once I am more than halfway through my current agreement?

Is car finance transferable? I'm 2.5 years into a 36 month finance plan with another sales room & was wondering if I could px my car & upgrade early with yourselves?

Lesley Wild

Answer from the Stoneacre finance team:

Hi Lesley, we can happily take your current car in on a part-exchange basis and start up a fresh finance agreement for you if you are looking to upgrade your car.Technically you can't transfer it, but we can always settle it for you and arrange another that suits you (this is in fact one of the most common finance arrangements we do).

Looking to change car early?

I've had my car just over 6 moths and have it for the next 5 years, I really hate the car and have had nothing but trouble with it, are you able to change the car or not?

Michael Robinson

Answer from the Stoneacre finance team:

Thank you for the question, you can part-exchange the vehicle if you're not happy with it, what we can do is look at what the outstanding finance is on your current vehicle and your vehicle's value and see if we can structure you a new finance deal on a vehicle you are happy with.