How Does Car Giant Finance Work?

Do you want to finance your car but is wondering how Car Giant Finance works? Well, that’s understandable and it’s good you are here as I explain how Car Giant Finance work.

You are not the first to finance your car and won’t be the last as well. But what is expected of you before financing your car is to understand what you’re really going into in order not to find yourself in a messy situation later on. And for that I commend you for taking the step to understand how Car Giant Finance work.

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About Car Giant 

Car Giant is a used car dealership in London, England. It was established in 1979 by Geoffrey Warren and today is regarded as the largest car dealership in the world due to its magnificent showroom space covering an area of over 35,708m2.

Car Giant has always been on a mission to help customers to find the best of cars at affordable prices without much struggle and you can also do same. With their easy financing processes, you can also apply online and later walk in to their showroom and drive away with your desired car without wasting much time.

They are not lenders but has a number of partnered lenders they work with to help applicants secure financing to purchase their cars.

How Car Giant Finance Works 

Car Giant has mastered the art of car finance hence with little stress, you can drive home with your car. You can apply for financing even before selecting your car from their wide range of used cars in their showroom. This helps to give you an idea of your budget in order not to go for cars that are way beyond your budget.

At Car Giant, there is virtually something for everyone hence no need to worry if you have a not so good credit score or credit history. This is because Car Giant treats every customer separately and tries to come up with the best solution for each customer at very competitive rates.

The Annual Percentage Rate (APR) you’ll get is based on a number of factors such as age of the vehicle, loan amount, loan term, etc.

They offer Hire Purchase (HP) and Personal Contract Plan (PCP) that allows you to decide on which type of financing you prefer. Payment terms for cars financed with Car Giant is usually between 3 to 5 years for Hire Purchase. Whereas the loan term for Personal Contract Plan (PCP) is between 36 to 48 months.

Because they are not lenders themselves, what Car Giant does is to sort of act as a broker between you and the lender. They have a number of lenders they are in partnership with hence the moment you apply, they forward your applications to them to help you get financing easily.

Their list of lenders include Blackhorse, Motonovo, BNP Paribas, and a lot more which Car Giant deals with to help find financing for their customers.

As brokers, Car Giant receives commission from these lenders. However, it doesn’t affect how much your loan will cost in anyway.

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How To Apply 

Securing financing at Car Giant basically involves four (4) steps and you’re good to go. They are;

  • Apply Onlineyou can easily apply online at your own convenience and your application will be received. You can also contact 02089647509 or send a mail to in case you have any questions regarding your application.
  • Car Giant then does a soft credit check on you which does not affect your credit score in order for them to find the best lender for you.
  • Car Giant will then forward your application to a number of lenders they have partnered with in order to help you get a lender that is ready to offer you a good deal. At this stage, a hard credit search may be done.
  • Lastly, you can then schedule a date to visit Car Giant to complete the necessary paperworks and drive home with your car.

Documents Required 

To apply for financing at Car Giant, you’ll need the following documents:

  • Applicant’s UK/EU driving licence
  • Applicant’s using EU driving licence must provide EU Passport as well
  • Proof of residence e.g. utility bill, bank statements, etc.

READ ALSO: What Is Personal Finance Loan? Here Is All You Need To Know

Frequently Asked Questions (FAQ) 

Q1. What type of finance does Car Giant offer?

Car Giant basically offers two types of financing. They are Hire Purchase (HP) and Personal Contract Plan (PCP) that comes with flexible loan terms and a fixed monthly payment amount.

Loan terms for PCP is between 36 to 48 months whereas loan term for Hire Purchase is 36 to 60 months.

Q2. What is the minimum credit score requirement at Car Giant Finance?

Car Giant Finance does not have a specific credit score requirement borrowers must meet. They look beyond just the credit score of applicants fir financing. As a result are able to offer financing to customers with a not so good credit score and history.

Q3. Can I use my own lender not part of your partnered lenders? 

Yes! Although Car Giant has a number of lenders they work with, you can also use your own lender to finance your car. However, you will be required to pay an external finance admin fee of £399 for administration cost due to the extra paper works that comes with using your own lender.

Q4. How much will I pay as down-payment to finance at Car Giant?

The amount you pay as down-payment is not for Car Giant to decide as it depends on the lender. There are also instances where yoh can secure financing without making any down payment although a down-payment helps to reduce your monthly payment amount.

Q5. What is Car Giant’s APR? 

The APR customers get at Car Giant is not fixed. Certain factors such as loan amount, loan term, age of vehicle, credit worthiness, etc are all considered when determining APR for a customer.

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