Help & Advice

Car Loans - Do i need a full UK licence?

Hi Rachel, do i need to have a full licence to apply for finance as i was applying for my brother in law as he was having problems? He has a full clean licence in our address. Many tahnks

Mr Robinson


Answer

Hi Mr Robinson, thank you for your question.

If we did the finance solely in your name we do have 1 lender that helps people without a driving licence get finance but you must have an excellent credit history.

If this is not the case do you have a provisional licence as we do have lenders on our panel that help people with provisional driving licences?

Also, we do have lenders that help people with bad credit get finance so there is a chance we can get your brother in law approved with yourself acting as a guarantor. Either way please make an application and once approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Rachel

Answer correct as of September 2016

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In this illustration your credit score is set to

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Best available rate

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We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

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More related questions

Hi, i have been told my credit is scored in the 800;s well i have a provisional licence only and am waitin to save some money for my test, my partner has a full uk driving licence but he has a low credit score, i want to get a car on finance but some companies have knocked me back as i dont have a full driving licence. Do you have any advice on what to do basically?

Answer

Hi Kirsty, if i'm completely honest i'd save up and get your test passed and then apply with us as we'd get you a better rate of finance than we could for your boyfriend. We only have one bad credit car loans lender who helps people with provisional licences but their rates are quite high. If you need a car now then get your boyfriend to apply and we'll see if we can get him approved for you. Kind Regards, Rachel

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Thanks for the reply. I understand that the apr will be higher than usual without a full uk licence but we are willing to pay for that as we need a car and my partners credit is really low ans he's been told he cant get finance. What's the company called u go with for provisonal licence holders my partner would be the driver till i save for my test.

Answer

Hi Kirsty, the finance company is called First Response Finance. They only deal direct with dealers so please make an application ith us and we'll see if we can get you approved. Kind Regards, Rachel

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Hi, my partner passed his test 3 months ago. Would he be able to get a car on finance or has he not had his licence for long enough?

Answer

Hi Lisa, thank you for your question.

As long as your partner is over 18 and has his licence he can indeed apply for a car loan.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

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My boyfriend has a full UK driving licence, works full-time but has only been in his new job 2 months.

I have a provisional but am in receipt of benefits can you help us?.

Answer

Hi Chantal, thank you for your question.

Your best bet would be to make a joint application for car finance. That way we can take both of your incomes into consideration. We would need one of you to have a full licence which your boyfriend has. Hopefully we won't need to provide 3 months proof of income however, if he/you has fair or poor credit this will be mandatory.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

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Rachel Wilson, Underwriting Manager

Set your budget

£
4 years

In this illustration your credit score is set to

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender