Skip Content
Sign in to the member area
Coronavirus Update + Support >

Can A 21 Year Old Get Car Finance?

Hi, I'm 21 but work abroad. I rent a house (shared) in the UK but i'm not on the electoral register, I earn a good wage but have it paid into a Dutch account, so my English account doesn't look too good because there is no funds going into it on a regular basis.

I have a credit card and catalogue that are paid on-time each month and a mobile phone contract which gets paid but not always on-time. I'm wanting to finance a new car valued at around £14,000 and I have a deposit of £2,000.

I have been refused finance already and do not have a guarantor. What are my chances of getting finance with your company? Also what APR will it be? Many thanks

Asked by Stef

Hi Stef, being on the electoral roll isn't a deciding factor - it does help but if you're not registered don't worry. We can indeed help 21 year olds get car finance.

Anyway, how often do you come to the UK and will the car remain in the UK? The good news is that you have a UK bank account and a little bit of credit. It's also good news that you have a deposit as that shows commitment from the lenders perspective.

However, i can't tell you what the APR will be until we get you approved as all our lenders that we deal with offer different APR's and we haven't seen your credit history in full yet.

There is a good chance we can help though so please make an application and once approved we provide a no obligation quote and you can choose a car from any dealer in the UK. Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 87 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.

Can't find the right answer?

Our Manchester based team are ready to help you.