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Will I get car finance if my partner has a low / bad credit score

Hi, I am looking to get car finance of around £7000 I have an experian credit score of 982 but my partner (we have a joint bank account) has a very low score off 532. This is only because she paid for a course on a monthly payment scheme, cancelled it with 1 month left and thought that she wouldn't have to pay anymore because she wasnt attending the course. However a few months later a letter came through saying she had defaulted we paid this off straight away. Will this go against me I have also been out of work for 4 months but have recently found new employment. Regards Nick

Asked by Nick W

Hi Nick, thank you for your question and apologies for the delayed response.

Your partner's poor credit won't effect your chances of being approved for a car loan at all. You may need to provide proof of income from your new job (payslips or bank statements) but as long as you can do that we should be fine to secure you the £7000. Would you have a deposit at all? Just to be clear - the lenders that we deal with can look at just your credit without taking associates into account.

I hope this helps and i look forward to receiving your application. Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 11 People

5 Years
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Rates from 6.9% APR: the exact rate you will be offered will be based on your circumstances

Representative example: borrowing £6,500 over 5 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £188.74 per month, with a total cost of credit of £4,824.37 and a total amount payable of £11,324.37

Rates may differ as they are dependent on individual circumstances. Subject to status.

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