Is age a problem when applying for car finance?

My dad is 76 with limited income from his teachers pension. Could he get a 5 year finance deal on a new Peugeot 207 at £11,225 with a deposit of approx £750?

Hi Tommy, as long as your Dad has a good credit profile and a full UK driving licence we should be able to get him accepted for car finance as he has his pension income and a good sized deposit.

Please make an application with your fathers information and we'll take it from there. Once accepted we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Edwin

Rate Edwins Advice

This advice from Edwin is currently rated 4 out of 5 stars based on 7 votes. Use the stars below to cast your vote...

4 / 5

Further Questions & Answers

Hi Stephen, thank you for your question.

As you have a good income and have had some active credit in the past i'm confident we can get you approved for car finance. £8000 may be a stretch but £5 - £6k should be feasible. We'll try our best though.

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, Edwin

Hi, I'm in full time employment earning £18,000 per annum.

I'm 19 and have had finance on a car with a guarantor before but this agreement was paid off early. I also have credit card. Would I be able to get finance on an £8000 car? Thanks

Posted by Stephen Knox on

Hi Mitchell, thank you for your question.

In short as you are employed and have a decent budget there should be no reason why we can't get you car finance as long as you have a UK licence and some current clean credit (bank account, contract mobile phone etc). We can also beat bank and car dealership finance rates.

Please make an application when you're ready and when accepted we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Edwin

Hello. I'm currently deciding on whether to get a car finance when i hit 18 in May.

I don't know what my credit score is, but i'm in full time employment earning £10-11k a year. My budget would be around £250 each month.

Would you suggest i would be able to get car finance or would i be better off getting a loan from my bank? Thanks

Posted by Mitchell Haynes on

Hello K L Waters, as you have a good credit record and a large deposit we'll be able to secure you car finance and at a good rate too (7% - 9% approx). Your age doesn't effect the APR you receive. Edwin

I'm considering a car loan of £4000 over 5 years. I have a deposit of £2000 plus my present car in part exchange. As far as I know my credit rating is very good. I am now aged 68 - 69 in September 2013 when I am considering changing my car. Will my age go against me and if I am successful with an application for finance will my age attract a larger APR than if I was much younger ??

Posted by K L Waters on

Hi Umar, due to your age and bad credit profile you'd need a guarantor to get approved. Would this be possible? If so, please make a joint application.

Hello, i,m 21 and in a part time job and studying. I've just passed my driving test and have a weak credit score. Will I be able to take out a car loan?

Posted by Umar Yousaf on

Hi Shannen. Hope you are well. In answer to your question it is possible to gain vehicle finance at 18 however you would need to meet lenders criteria. Due to your age there are only a small number of lenders that would be willing to finance you. For the chance of an approval you would need to be registered on the electoral roll at your current address and have some form of credit such as a credit card, overdraft etc. However most 18-21 yr olds will not be approved for much more than £5k. With regards to a guarantor this can usually increase your chances of an approval. I would advise that you make a joint application so we can see what the best option for you would be. Thanks, Edwin

Hi, I'm looking at trying to get finance on a fiat 500 as my car is costing me too much. I am a full time student at the age of 18 and only earn about £400 per month. However my parents said they would be a guarantor for me. Is this possible?

Posted by Shannen on

Hi Carol. Thank you for using Q&A. This should be no problem especially if your mother has excellent credit. Please put an application through so we can take a closer look and place her with one of our lenders. Regards, Edwin

Hi my 85 year old mother wants to finance a car for me, its only for £4000 and she has an excellent crdit histoty unlike me, would this be possible? Regards carol

Posted by Carol on

Hi Declan. Unfortunately due to your age you would not be able to gain finance, with or without a guarantor or large deposit. The minimum age required to apply for credit is 18. You may want to see if your parents would be willing to take the finance out for you . However they would be solely liable for the vehicle and payments. Alternatively you can wait until you are 18. Additionally having a full driving licence will increase your chances of an approval once you are 18. Thanks, Edwin

Hi if I passed my test at 17 would I be able to get a car on finance if I done a large deposit of say £4000?

Posted by Declan on

Hi Rosie. From what you are telling me I see no reason why you wouldn't be able to gain vehicle finance. Are you registered on the electoral roll as this will strengthen your chances of gaining an approval as it shows the lenders your traceability. Please put an application through so we can work on getting you approved. Edwin :)

This comment is awaiting moderation.

Posted by Rosie on

Hi Rosie. We have been able to gain finance for customers aged 19 however you would need to have some form of credit and be registered on the electoral roll. Unfortunately your insurance doesn't count as credit and therefore doesn't show on your credit profile. Do you have any credit? Such as an overdraft on a current account/ small credit card/ mobile phone contract? If you do then we may be able to help however you would need to be keeping up to date on your payments. Unfortunately without making an application it is hard to say whether you would be approved. Please make an application when you are ready and we will see how we can help. Thanks, Edwin

Hello I'm currently studying my accounting course which is only one day a week and I am employed but only have an income of about £600 a month whilst I'm studying, I have been declined for a credit card before which was over a year ago and since then I don't think my credit has ever been touched and I pay for my contract insurance etc out of my own account. I am just wondering what the chances are of me getting a car on finance without a guarantor? I'm 19 Years old, I don't want to apply and be declined as I don't want my credit to be touched! Need some advise! X

Posted by Rosie on

Hi Karoline, Unfortunately you cannot finance insurance costs. I am familiar with what you are referring to and this is classed as a lease offer (with main dealers such as peurgot). This is different to financing a vehicle as you will not own the vehicle at the end of the agreement whereas you will if you finance it. However with most of these leasing offers you need to be over 21 and driving with no claims for at least 2 years. Thus leasing is not an option for your son at the moment (until the end of Jan). Similarly it tends to be harder to gain approval for lease offers as the companies which offer this tend to want you to have very good comparable credit. In comparison it is much easier to finance a vehicle. If you apply for a lease offer and your son is declined, I would recommend that he look at financing a vehicle and possibly taking out a bank loan for the insurance. I hope this all makes sense. Cheers, Edwin :)

Hello Edwin. My son is in full time employment and will be 22 at the end of February. By the 25th of January he will have held his full license for 2 years. His present car insurance ends on 9th February and he's thinking of applyin for 'finance with insurance'. He has a mobile phone contract. I pressume we're showing on the full voting register though we may have opted out of the edited register. My son would be looking for 'finance with insurance' on a lower priced 1 litre engine new or used vehicle. His existing car is a VW Polo. I don't think he wants to pay more than a £100/month though for 'finance with insurance' over however many years it worked out to. The only thing i could guarantee is that he'd definately be able to pay the £100/month for however many years. What do you think, is it worth him applying?

Posted by Karoline A Bobrowski on

Hi Pete. It is hard to say without looking at an application. I would suggest that you apply with your father as a guarantor. Our underwriters can then have a look at both your credit profiles and come back to you with the best options for you. I hope this helps. Edwin :)

Hi, thank you for your reply, my credit is not very good and I don't think It would be possible to get me approved on my own. But with my deposit I would only be financing 4000. I have a permanent job with a steady salary and my dad would be on the application. Do you think this would be okay. Thanks. Pete

Posted by Pete on

Hi Pete, Your age does limit the number of lenders we can try and get you approved with on your own. These lenders also require you to be registered on the electoral roll and have good credit. It will definitely strengthen the application if you put your father on the application. It is worth applying so we can see how we can help. Edwin

hi, i am 20 nearly 21 and have been driving sinse i was 17, i dont have very good credit but is it possible to get finance on a audi worth £6000, i have a deposit off £2000, my dad has financed many cars and has really good credit, he has agreed to be a guarantor, do you think i could get finance with this? thanks.. pete

Posted by Pete on

Hi John, good news. £9000 over 5 years would be £220 approx per month. Please apply when you feel ready. Edwin

Yeah I am on the roll, I've had a phone contract for 2 years and got insurance but not for a full year yet, but would I need a credit card as currently on debit card, how much would I be looking at monthly for a £9,000 car ?

Posted by John Cunliffe on

Hi John, we can certainly try for you as you have a good stable job and income. Are you on the electoral roll and do you have any current active credit at all (bank account, contract mobile phone, credit card, loan etc)?

Hi, I am 20 years old and currently in the army , would I be able to get finance without knowing what my credit history is? It's probably zero ?

Posted by John Cunliffe on

Hi Najmul, one of your parents could act as a guarantor if possible (you'd need their permission though). Please apply on our site when you're ready.

Hi, I've lived at my current address since i was born and i haven't had any contracts before but i earn £13k a year and have had this job for over 6 months and it is now permanent. Would it improve my chances with that? and who is eligable to be my gaurantor? and i have a debit card, no credit cards or contracts. Thanks edwin

Posted by Najmul on

Hi Najmul, as you're employed, have a decent deposit and a good income we should be able to help. Having a guarantor would obviously improve your chances but as long as you're on the electoral roll at your current address and have some form of current credit we should be ok.

Hi Edwin, i'm 17 years old and my birthday is coming up in November. Would i be able to apply for a car finance? I'm in full time employment and need to know what requirements are needed. I would be grateful if you could help and im willing to give £1000 deposit and pay upto £250 a month for a Corsa or a Polo

Posted by Najmul on

Hi Nicola, your age may well cause an issue. Do you have any other form of active credit currently and are you on the electoral roll? How much are you looking to finance and what is your monthly budget? The minimum deposit you'd need is £200. Edwin

Hi, i am 18 years old and have recently passed my test. I am in full time employment and have 3 jobs. Due to my age would that be an issue with getting a car on finance? What would be the lowest deposit i can put on a Polo VW. I have good credit rating.

Posted by Nicola on

Hi Ross, with a large deposit and the fact that you're employed we should be able to help. What is a concern is your lack of credit history but we'll try and get round that. As you're only 19 you'll have to place your Dad on the application as a joint hirer. Edwin

Hi, I am 19 and self employed to a work place and have been there for 1 year and have a regular income each week! Would I be able to get finance on a second hand Nissan navara as I'm able to put £4000 as a deposit and finance around £5000 over 2/3 years? I have no credit cards and my phone contract is in my dads name but I have a direct debit going into his bank, he is also in a full time job earning £40000+ a year will this help me atall, many thanks Ross

Posted by Ross on

Hi Maleha, you'd need to pass your driving test before we could get you car finance. When you do please apply on our site and we'll try and get you approved for car finance. You would also have to be able to prove your income with bank statements so make sure you bank your weekly wages to prove your income when required. Kind Regards, Edwin

Hi, I am 19 years old. I am in full time employment earning £14000 a year. I get paid cash in hand weekly and I currently hold a provisional licence. I have store cards and a contract Phone on my name. Do you think I would be able to get car finance? Thanks

Posted by Maleha on

Hi Jordan, yes you can as long as you're on the electoral roll and can prove your income with payslips etc. Also if you have a cash deposit or part exchange that'd help too. Finally do you have any existing finance (loans, credit cards, contract mobile phone etc) and are the repayments being made on time each month? If so, this will also help your cause. Kind Regards, Edwin

I'm 18 and in full time employment. Am i able to get a car on finance?

Posted by Jordan on

Hi Chris, with an excellent credit score we should be able to get you approved on your own with no problems at all. As long as you have a full UK licence, a 10% deposit, some form of active credit and electoral roll history then we should be rocking :-)

Hi, i was looking to get finance for my next car, i'm 20 and have an excellent credit rating. Could i finance myself or would i need a guarantor? Thanks :)

Posted by Chris on

Hi Lydia, yes - that wouldn't be a problem at all. Please pass our congratulations on to your daughter too :-)

Hi, my daughter is 18 and has just passed her driving test, she has a full time job. Would she be able to get car finance if one of her parents were to be a guarantor. Thanks

Posted by Lydia on

Hi Lukas, with such a large deposit i'm confident we should be able to help you. We do have one lender that i have in mind that helps customers with bad credit who have a big deposit. Please apply and we'll see if we can get you approved. Thank you, Edwin

Hello, I would like to buy a car for £15,000 and I have a £5,000 deposit. My credit history is poor so my question is would it be possible to get a car on finance with you?

Posted by Lukas on

Hi Jessica, i totally understand your situation. All i can say is please make an application and we'll see if we can get you approved. If we can't help my advice would be to talk to your bank and get a small credit card to get you on the financial ladder. It's silly really because lenders want to see credit history before lending but for people in your situation it's crazy as no-one likes taking that first risk. Good luck and i'll look out for your application. Kind Regards, Edwin

Thanks for your reply Edwin. In answer to your questions i am on the electoral roll at my new home, i do have a bank account and i do have a full UK driving license. However i do not have a credit card and my mobile phone is on pay as you go. The problem i am finding is due to my mum being a full time carer of my younger disabled brother she cannot work. A number of companies wont have her as my guarantor even though she has had car finance in the past and paid this all off in full and has 100% credit rating.

Posted by Jessica on

Hi Jessica, your age may be an issue here however, i have a few questions for you. Are you on the electoral roll at your current address? Do you have a bank account and a full UK driving licence? Lastly do you have any form of credit at all (credit card or mobile phone) as this would help masively? Edwin

Hi, I am 19 years old with a full time job but i have no previous credit history, Would i still be able to get car finance? Other places have declined me due to not having a guarantor as my parents are unemployed at the momenet

Posted by Jessica on

Hi Paul, our car finance lenders help people between the ages of 18 and 80. As you're in full time employment we should be able to help get you approved. How's your credit profile? Do you have any credit history and are you on the electoral roll? It may strengthen your application if you get a guarantor. Kind Regards, Edwin

Hello, I'm 20 yrs old and in full time employment, could you advise if you would consider me for finance and are there any age restrictions?

Posted by Paul Cairns on

Ask a further question or make a comment on this topic...