Help & Advice

Joint application for a car loan

Hi, i'm in need of a car on finance. I have a full uk driving licence, but do not work, although my partner works full time but does not have a driving licence.

My credit score is quite good but my partner's is poor. We have a deposit of £800. Would we stand a good chance of being approved for car finance with a joint application?

Tasha


Answer

Hi Tasha, thank you for your question.

Making a joint application could potentially help your cause as your partners income could be taken into account depending upon which lender we can get you both accepted with (you'd need your partners permission obviously to add them onto the app). The issue is that your partner doesn't have a good credit history or a driving licence so that does limit us somewhat with our options. We do have the possibility of getting you approved on your own but only if you have a good credit history and some form of income - are you on benefits at all? If not, a joint application is the best way to go.

The fact that you have a deposit will help our chances as it shows commitment to the deal from your side and that you have a good credit history.

Please think it over and when you're ready please make an application here. If approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Regards, Rachel

Answer correct as of September 2016

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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 am looking to buy a second hand car but my credit rating is very poor as I have a defaulted account that is still outstanding. But my fiancé has an excellent credit score. Would I be able to get a loan of £8000 over 3 years on a joint application?

Answer

Hi Douglas, thank you for your question.

Making a joint application is the best way for you to get approved especially as your fiancée has an excellent credit record. Obviously, please obtain her permission first.

We do also have lenders on our panel that help people with past credit issues get car finance so, £8000 is achievable as long as you have the income to support this level of borrowing.

Please make an application when you're ready and if 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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I have a bad credit rating, with several defaults and one ccj worth approx £2500. All due to redundancy. I earn £2700 a month, and i am looking for about £6500. My wife has similar credit file but with no ccj. Would it be better if she applies? Thanks.

Answer

Hi Darren, it'd make sense if you made a joint application with your wife if i'm honest as you'll have a better chance of being approved - you can then also take both sets of income into consideration (if your wife works). I'm reasonably confident we can do something for you though. Would you have a deposit / part exchange at all?

You seem to have a good income so if approved £6500 shouldn't be a problem. As the car is for you you'd have to be in the finance application anyway. Please make an application when you're ready and if 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 wife has good credit history but i'm affraid mine isn't great. I haven't got a CCJ but have missed many payments but i'm now paying ontime! Could my wife apply for a car loan even though she doesn't have a driving license or would it be worth us applying together? We are looking to borrow £12,500. Regards Steve

Answer

Hi Steve, it'd make sense to make a joint application with your wife as this would strengthen your application.

We do have lenders that help people with past credit issues so please make an application when you're ready and if 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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Hi, My credit score is poor but my partners is good. She has no license though but i do. Would you be able to do anything for us?

Answer

Hi Jake, thanks for your question.

As the vehicle is for you you'd have to make a joint application on our website with your partners permission of course.

If your partner agrees it'll strengthen your chances as they have a good credit history. We can't guarantee an approval at this stage though and the amount you can borrow if approved will be dependant upon your financial circumstances and income.

Please make a joint application when you're ready and if 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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Hi, I have poor credit (506) but earn £42000 a year, my partner has good credit (886) but a low income. He applied for a loan so we could buy a new car but was turned down. We are looking for around £6000 plus have a car to part ex worth around £900. Do you think it would be worth making a joint application, or would my poor credit stop this from going through? And would sort of APR do you think we could expect? We were looking at paying around £125 a month? Thanks.

Answer

Hi Stacey, there's no harm in making a joint application with your partner as long as you have their permission. Having a joint applicant can strengthen your chances as it gives added security for the lender.

As you're not after a large amount and have a decent size deposit i'm reasonably confident we can help. We also have lenders on our panel that help people with past credit issues. The rate you receive will be dependant upon your financial circumstances. Please make a joint application when you're ready and if 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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Hi, We are needing a new car but my credit is bad due to mistakes in my youth. (i do have a mobile phone contract though) My other half has very good credit but doesn't have a driving licence, could we apply jointly? We would be looking for 2,500 - 3,000 Max. We have a car to part ex and poss £300 as a deposit aswell. Do you think we could get the finance.Regards,Simon

Answer

Hi Simon. Firstly thank you for your question. The answer is yes you can apply as a joint application as long as at least one of you has a licence and at least one is in full time employment. You would need to put an application through so our underwriters can assess what the best options for you would be. We may even be able to get you approved on your own as we deal with lenders who can help customers who have experienced credit issues. In any case it is important that you are showing that you are trying to improve your credit score through keeping up to date on any active credit accounts. It will also help if you are registered on the electoral roll. Thanks again, Rachel

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hi, I'm looking into getting a second hand car on finance but my credit rating is terrible due to unforeseen circumstances. my mother is more than happy to go as a guarantor for me will she have to have good credit?

Answer

Hi Thomas. I would advise that you put a joint application through as usually this can strengthen the application. Your mother doesn't need to have very good credit but obviously the better it is the more chance you have of gaining an approval. We can then assess what the best option for you would be. Keep in mind though that having a guarantor doesn't guarantee an approval. Please make an application when you are free and we can see what we can do. Thanks, Rachel

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Hi, I am looking to get car finance, my partner works part time with not to bad credit, where I work full time, on a good figure with really bad credit, what are our options?

Answer

Hi Mary, It is hard to say too much without seeing an application. However I would advise that you put a joint application through. We can then look to see what your best option would be. Thanks Rachel

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I have a poor credit score of 331 (but with no missed payments in my recent history, 2 years+). I've got a deposit of £2,000, and would be looking to borrow £8,000. Would it be possible to get a finance deal with my poor score? and just how high is the APR likely to be?

Answer

Hi Louise, i'm reasonably confident we could get you approved as you have a clean recent credit history and a large deposit.

The APR you receive will be determined by the lender you're approved with and ultimately will be based upon your financial circumstances.

Please make an application when you're ready and if 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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Hi, my partner and I are looking for some finance for a car, we are both in full time employment, I am on 30k per year, she is on about 26k per year, her credit is good, as I am only recently back in the country after 20 years in Australia, I do not yet have any credit history here, what are our chances of being approved jointly for 3000-4000 pounds

Answer

Hi Chris, as you've only just returned from travelling i'd advise for you to apply alongside your partner with their permission obviously. You can make a joint application on our website. Once approved the £3000 - £4000 shouldn't be an issue due to your income. Kind Regards, Rachel

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Hi, I have recently been rejected car finance for the first time. I've had 3 cars on finance all which were paid off but i think a couple late payments due to a mix up with direct debits with car insurance has knocked my score down to 623 at present. I'm looking to take finance of £22k over 4 years. Would a joint application with either of my parents help my chances of securing the finance as both have a good history of credit? I'm currently on a yearly salary of £60k and am 24 years of age. Look forward to a reply, thanks :-)

Answer

Hi Dwayne, thank you for your question. As you're after a large amount i'd advise making a joint application with one of your parents as your credit score isn't that strong. This will obviously improve your chances of being approved. You have a large income which is great but do you have a deposit at all? Kind Regards, Rachel

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Hi, I have really bad credit and i'm in a debt management scheme.

However, my partner has good credit, owns 2 pubs and several houses and were looking to go for a brand new car. Would we get finance?

Answer

Hi Octavia, thank you for your question and apologies for the delay in responding.

We could indeed help you and your partner secure car finance but if you wanted a better interest rate it'd be best to make a joint application. If the car is for your partner they could just apply on their own but, if the car is for you you'd need to be on the agreement.

If this isn't the case we do indeed have lenders that help people with poor credit and adding your partner as a joint applicant would increase your chances of being approved.

The choice is yours but i'd chat it through with your partner and see which avenue you wish to pursue. Please make an application when you're ready and remember that if approved with us we provide a no obligation quote and you can get a car from any dealer nationwide. Kind Regards, Rachel

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Hello, Is there a minimum income required to be accepted for finance? Also I have no real credit history but have never missed a payment of any kind.

I'm 25 and work part time. I could also part exchange my current car. Is it worth me applying as I have been turned down for loans because of not having credit history. Henry

Answer

Hi Henry, thank you for your question.

In response the minimum income you need to prove is circa £750 per month to obtain car finance. Some lenders we deal with though do take benefits into account so this can be added to your monthly wage.

As long as you meet the above criteria please make an application asap. We'll have a decision within minutes and if approved we provide a no obligation quote and you can buy a car from any dealer in the UK. The supplying dealership will obviously take your part exchange as a deposit too. Kind Regards, Rachel

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I have a really bad score of 233. Would applying with my partner help as she has an average credit score?

Answer

Hi Paul, thank you for your question.

Adding your partner (with her permission) would strengthen your chances of being approved.

Chat it through with her and please make an application when you're ready. If 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

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Rachel Wilson, Underwriting Manager

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