I Need A Car Loan for £3500. Will I Be Approved?
Hi, I want to take a £3500 car out on finance and pay it back over 24 months. I am currently working and earning £600 a month and living at home. I have never had a loan etc so I don't have credit. But my parents have good credit, could the finance be in my parents name but the money out of my bank account? Thanks
July 25, 2013
Hi Adam, with limited credit history, it may be beneficial to your application to have one of your parent's on the agreement as a guarantor. Is this an option? That way the finance and the car can be in your name and you can build up your credit profile. Please apply when you feel ready. Regards, Rachel