Can you get finance while not on the electoral roll?

Hello, i have very recently just moved address and i'm not currently on the electoral register at my current address. I also have a feeling that i'm still on the electoral register at my old address. Can i still get approved for a car loan?

Asked by Graham S
October 18, 2011

Hi Graham, yes you'll still be able to get car finance even though you're not currently on the electoral roll at your new address. Please put in the last 3 years address history on the car finance application form and our lenders will understand that you've just moved so they won't expect you to be on the electoral register. As long as there's a clear residential history the lenders will be fine. How is your credit history and have you applied anywhere for car finance yet? 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

My monthly budget is

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Rates from 8.9% APR. Representative APR 19.9%

My monthly budget is

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Rates from 8.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £10,000 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £255.50 per month, with a total cost of credit of £5,329.80 and a total amount payable of £15,030.

We look to find the best rate from our panel of lenders and offer you the best deal that you're eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.

Amount to borrow

To pay over

5 years

Assuming your credit profile is:

Total cost of credit	£ 2000
Total repayment	£ 2000

48 monthly
payments of

£ 245 98

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Rates from 9.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £25,000 over 48 months, £3,750.00 deposit, on PCP, with annual mileage of 8,000pa, and a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed), the amount payable would be £394.51 per month, an optional final payment of £7,194.33, with a total cost of credit of £9,912.36 and a total amount payable of £28,444.33.

We look to find the best product from our panel of lenders and will offer you the best deal that you’re eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.

Documentation related questions

I would like to apply jointly with my wife for car finance.

The thing is I do not hold a full driving licence but my wife does. My wife is a housewife and I am in full time employment. Can you help?

Asked by Stephen Edwards
October 18, 2011

Hi Stephen, thank you for your question.

We can indeed help you and your wife get car finance even though you have no licence. Please make an application with your wife as the main hirer as i assume the car is for her and you as the second hirer. This way your wife can get the car as she has the licence but we can use your income to prove that you can both afford the loan.

Once approved we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Rachel

Hello,

I have just got my drivers licence and i turned 24 yesterday. I don't think my credit rating is great to be honest and i would like to know more on how to get car finance. I am employed too.

Asked by Moyosore Bolaji
October 18, 2011

Hi Moyosore, thank you for your question.

Firstly, congratulations on passing your driving test and Happy Birthday for yesterday! Moving on - we do have lenders that help people with fair/poor credit scores so as you're 24, have a licence and are employed i'm confident we can help.

To get the deal funded we'd need to see a copy of your driving licence, proof of address (utility bill) and proof of income (payslips). A deposit would also help your chances if possible.

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

What does being ‘provisionally approved’ for car finance mean?

October 18, 2011

Congratulations - you’ve been provisionally approved for car finance!

But now you’re probably wondering what that means.

A provisional approval – or approval in principle - doesn’t mean it’s guaranteed that we’ll be able to help but it’s a good start.

It means that, based on your application and a soft credit check, one of the lenders on our panel has indicated that they may be able to offer you car finance.

Once you’ve been approved in principle, there are a few different factors that can affect whether you’ll be eligible to secure finance or not. The lender will have their own criteria and will look at your individual circumstances, the vehicle you choose, and further documentation.

Don’t worry; your dedicated account manager will guide you through the process and let you know if any restrictions apply.

Will I be approved for car finance?

If you’ve found it tough to find car finance in the past, it’s understandable that you might be anxious about being approved.

But there’s no need to be nervous; once you’ve completed our online application form, we’ll look to find you the best deal from our panel of lenders and get you a decision in minutes! That way, you can get your finance sorted first and choose a car with confidence from any reputable dealership.

And if you’re looking for bad credit car finance, we could help! Here at CarFinance 247, we work with a panel of lenders so we can look to find finance approvals for people with a wide variety of different credit circumstances.

Not been approved this time? Find out more about being refused car finance here

Hi there, i am sitting my test in mid January. I am 21 years old but my credit rating is fair, not too good but not awfully bad. Anyway, i am hoping to apply for finance the day i pass but was wondering how long the whole process will take? I live in Sco

Asked by Kat
October 18, 2011

Hi Kat, thank you for your question. As you have fair credit and a large deposit i'm confident we can get you approved for finance. We may struggle to get you £10,000 but £7000 - £8000 would be possible depending upon how much income you have. You can get your Mini from any dealer in the UK and we do help people who live in Scotland get car finance. Please apply when you get a moment and we do provide a no obligation quote. Kind Regards, Rachel

Hi, my credit score at experian is 999 (excellent) so was wondering what other documents will be required for car finance. Do I need to show my wage slips and bank statements? ( Finance needed 38k putting down 20% deposit)... Thanks

Asked by Kham
October 18, 2011

Hi Kham, if your credit rating is excellent all we'll need to get a deal funded is your driving licence and possibly a proof of address. We wouldn't need anything else.

Are you on the voters roll at your current address as that's the only small stumbling block i can see? If you are then we can get you into a new car in no time and the fact that you have a 20% deposit is a massive help also. We offer some great rates from high street names including Barclays, Hitachi & Santander.

Please apply when you are ready and once approved we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Rachel

Hi Rachel. I moved to the UK in Jan 2011. I have been in full time employment since I arrived. I earn £50k (before bonus), rent a flat and have never missed a direct debit payment since I've lived here. I have a clear balance on my credit card (only 2 mon

Asked by Dave
October 18, 2011

Hi Dave, firstly welcome to the UK. I hope you're enjoying it so far. Thank you for using our Q&A and from what you've said we should be able to beat the 20% APR you have been offered already. If you don't mind me asking - which company/lender offered you that rate? Also how long are you planning on staying in the UK? Most lenders like to see 3 years address history before giving out loans but hopefully we can get a lender to help. What gives me a good feeling we'll be able to help is that you have a very good wage and that the credit you do have is clean so far. Also you've just got yourself on the electoral roll. You have done all the right things and there's nothing more you can do to be honest. It's down to our lenders as to whether they can help which i hope they can. Please make an application and we'll go from there. Kind Regards, Rachel

you dont have the car i want how long will it take for you to try and get it for me?

Asked by Rhian
October 18, 2011

Hi Rhian, we have hundreds of cars in stock to source from so i'm confident that whatever car you want we'll have it for you. What is it you're looking for? Kind Regards, Rachel

HI Rachel, I HAVE APPLIED FOR FINANCE, WHAT HAPPENSNEXT, IF APPROVED WILL YOU FIND THE CAR I WANT OR CAN I FIND ONE AND YOU ARRANGE THE FINANCE WITH THE GARAGE? THANKS

Asked by PAUL ROBINSON
October 18, 2011

Hi Paul, thanks for getting in touch. Your application will be processed and if provisionally approved it will be passed over to the sales team. Their job is to obtain all the relevant proofs from you (address, income etc) and then discuss the amount you can finance with our underwriters. As a business we supply the car and the finance as a package but we can get you any make and model of car as long as your income shows you can afford the vehicle. Please take a look at the testimonials we have on our website and you'll see the wide variety of cars we sell. We can also deliver vehicles nationwide and even take your old car off you as full deposit. Kind Regards, Rachel

Hi, I would like to apply with you. But it requires i put three years worth of address history into the application. I have only lived in the UK for 18 months. I do have a fair credit history and do have a credit profile and one or two other things in my

October 18, 2011

Unfortunately, the lenders we work with ask that you have at least three years’ address history in the UK. This is needed so that lenders can determine how much of a risk it might be to lend to you. If you’ve lived in lots of different places in a short time, this could be cause for concern.

However, you don’t need to be a homeowner to apply for car finance with CarFinance 247. Our panel of lenders includes those who can help people who rent their own place, share with housemates, live in work accommodation, or are live with their family or partner.

You must be aged 18 or over to apply for car finance and most lenders will also ask you to supply proof of address, such as a recent utility bill, before issuing a loan.

Hi Rachel . I use to live in Southafrica but me and my wife imigrated here 18 months ago . This is the first time we have come to the UK. Would this be a problem?

Asked by Gareth
October 18, 2011

Hi Gareth - shouldn't be a major issue as long as you're on the electoral roll at your current address. Please make an application and we'll go from there. Rachel

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CarFinance 247 Ltd.,
Universal Square,
Devonshire Street North,
Manchester,
M12 6JH,

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CarFinance 247 is a trading name of CarFinance 247 Limited. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. (Registration Number 06035525).

CarFinance 247 is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 653019). CarFinance 247 is registered with the ICO (Registration Number Z1897658).

Finance is subject to status and is only available to UK residents aged 18 and over. Written quotations are available on request.

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