CarFinance247 Review

What CarFinance247 actually is

They're a broker, not a lender. You apply through them, they search a panel of 19+ lenders to find someone willing to fund your car. The panel includes Advantage Finance, Alphera, BNP Paribas, Close Brothers, and Moneybarn.

That last one matters. Moneybarn's representative APR is 30.7%. If CF247's panel matches you with Moneybarn, you could end up paying nearly the car's value again in interest alone. More on that in our Moneybarn review.

CF247 don't charge you a brokerage fee directly. They earn a commission from whichever lender approves you - either a fixed fee or a percentage of the loan. You won't see this as a separate line item, but it's baked into the APR you're offered.

The application process

First step is a soft search. Checks your eligibility without leaving a mark on your credit file. So far, reasonable.

The hard search comes when you accept a specific offer and formally apply with that lender. Standard for any finance application. But here's where it gets contentious.

The phone calls

This is the thing. The moment you submit details for a quote, an "account manager" calls you. Sometimes within minutes. Sometimes on a Saturday. The Financial Ombudsman dealt with a specific complaint (case DRN-4195551) about CF247 calling a customer outside requested hours.

Reddit's r/UKPersonalFinance is consistent on this point. People expecting a digital self-service experience, getting a sales call instead. If you want to compare numbers in peace and make a decision without pressure, this will annoy you.

To be fair, plenty of the 49,500 Trustpilot reviews praise exactly this. "My account manager was brilliant." "They sorted everything." Some people want the hand-holding. But you should know it's coming before you enter your phone number.

Who it's actually for

CF247 exists for people the high street has turned down. Bad credit. CCJs. Thin files. If Barclays won't lend to you at 4.1%, and you need a car, CF247 will probably find someone who will.

That's a real service. Not everyone has a 750 credit score. But the cost is significant - 19.9% representative APR means roughly half the people who apply get that rate or worse.

The numbers on a £12,000 car

£75 more per month and £5,800 more in total. Same car.

Car restrictions

The panel lenders typically won't finance cars older than 10-12 years or with more than 100,000-120,000 miles on the clock. This isn't always clear upfront - users on MoneySavingExpert forums report finding out after their application was already processed. Check before you apply if you're looking at an older car.

The verdict

CarFinance247 does what it says. Poor credit and need a car? They'll find a lender. The Trustpilot score is strong and the account managers get genuine praise.

But check a bank loan first. Even with imperfect credit, you might qualify for a personal loan at 6-8% APR. Half the cost. And nobody rings you on a Saturday morning to talk about it.

Before you apply anywhere

• Check your credit score for free (ClearScore, Credit Karma, MSE Credit Club)
• Try your own bank's personal loan calculator
• Run the numbers in our car finance calculator to see the total cost
• If you do use CF247, know that the phone will ring