I'm 19 and Looking for Car Finance. What are my Chances of Getting Accepted?

Hi, I am 18 nearly 19 (will be when applying), and am currently looking into car finance but do not know if I'd get approved. I am registered on the electoral role and had a phone contract out on a month to month contract for about 4 months previously. I have never gone into overdraft, nor do I have a credit card. I will have a deposit of around £3000, and am looking at cars with a value of around £5500. I would like to be able to get finance over a 12 months and have the car paid off within this time. I have worked full time for over 2 years, and earn just over £1200 a month after tax. Would this sort of finance be possible without a guarantor?

Asked by Claire
October 2, 2015

Hi Claire, thank you for your question.

The fact that you are on the electoral roll, and have a phone contract that you pay on time is a really good step in establishing your credit history. You have a solid regular income, and a good deposit, all of which will help in your application.

It would benefit you to have a guarantor due to the fact that your phone contract is the only credit that you have really established. This is not to say however, that you can't apply on your own merit, because we do have a large panel of lenders, some of which have helped people in a similar situation to yourself in the past.

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, I have a credit expert score of 706 over bank problems when I was younger. I have £2500 to pay of my last car finance which was £14000 all my monthly payments have always been in-time with the car finance. I have never missed a payment. I am self empl

Asked by Carl
October 2, 2015

Hi Carl, i'm confident we can get you approved with your current credit score. You also have a large income which is great. Please apply when you feel ready. Rachel

Tim Carpenter
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Hi, I am looking into buying a Citroen C2 for around £3,500. I am a student getting around £7k a year from student finance and £5k from a part time job. My credit rating is listed as 'poor' because I haven't had any credit before and i've been turned down

Asked by Georgia
October 2, 2015

Hi Georgia, as you have no credit i'd advise you to add one of your parents to the application to give yourself a better chance of being approved. Who has the better credit history - your Mum or Dad? It won't matter that your Mum has a provisional if she's acting as a guarantor. I take it you have a full UK licence? When you apply place your part time job in the employment section and after the application is complete come back to me with the unique reference number so that i can guide you through the process. Kind Regards, Rachel

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Hi, I am 19 years old an I am on a guaranteed 3 year apprenticeship scheme with a guaranteed job after the 3 years. I have substantial pay increases year on year for the apprentice scheme. I have been working for the scheme for 5 months now and I am on ro

Asked by David
October 2, 2015

Hi David, we should be able to help you. Your income is more than the minimum any of our lenders require so that is not an issue.You would need to make an application so we can take a closer look at your credit profile but from what you have told me I am confident we will be able to help. Thanks Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

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Hi, after carrying out research online, it looks like car finance will be ideal for me, considering I want to pay off my 1st year insurance upfront (£1500), leaving me short on funds to buy the car. My credit is poor i presume. I have 2 d

Asked by Kobi
October 2, 2015

Hi Kobi, thank you for your in-depth question.

Firstly, adding a guarantor with a good credit history to your application will improve your chances of being approved but this isn't mandatory. Next, as you have a decent monthly income, are on the electoral roll and due to the fact that we have lenders who help people with past credit problems i'm confident we can get you accepted for circa £4000 - £5000.

Please make an application and once approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Rachel

Tim Carpenter
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Hi, As a student from 05-09 I took out too much credit as overdrafts and defaulted on two accounts to the value of £900 and £1600. Since graduating, i have secured a job in government and have all paid off in full and satisfied the accounts. Would I be in

Asked by Guy
October 2, 2015

Hi Guy, as you have settled your old debts and have a good secure job now we should be able to secure you the finance you need to re-build your credit history. Please apply when you get 3 minutes on our site and we'll aim to have you approved when the office is back open tomorrow (Sunday today). Rachel

Tim Carpenter
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Hi, I'm currently working 15 hours a week, receive additional benefits, such as child tax credits, and in total I receive around £1750 a month. I'm currently waiting for my electoral role application to be updated, and I'm 20 points away from a "f

Asked by Jamie
October 2, 2015

Hi Jamie, thank you for your question,

Your credit isn't too bad, and you have a good regular income and decent deposit. We do have lenders who can help people receiving benefits, so we can try our best to help you!

Please make an application when you're ready and if approved we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Rachel

Tim Carpenter
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Hi, I have a question and am wondering where we stand. Is it true my husband needs a full license to finance a car for us? They won't let me as I don't work and even as a joint claim its looking unlikely as he doesn't have the license - I do! We both have

Asked by Victoria
October 2, 2015

Hi Victoria, we do have a few lenders who help people with no licences however as you both have average credit scores we won't be able to help on this occasion. As soon as he has passed his test he could apply with no problems. Rachel

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Hi, my partner and i both have poor credit. He is self employed, has a driving licence and a mortgage. I work part time and have a provisional. We hire a car that costs £400 a month. What are the chances of us being approved for finance and can you recomm

Asked by Vicki
October 2, 2015

Hi Vicki, please make a joint application on our website - that'd be your best chance of being approved. As long as your partner can prove his income we may be ok. Please apply when you get a few spare minutes. Kind Regards, Rachel

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Hi, my name is Connor and I have recently turned 20. I have been driving for 2 years now but want to change my car.

I don't really have amazing credit history because all I have is a phone contract which is £40, car insurance and my car whi

Asked by Connor Macaulay
October 2, 2015

Hi Connor, thank you for your question.

As you have some current credit history and a UK licence i'm confident we could get you £5000 for car finance. I take it that you are employed and can prove your income? A small cash or part exchange deposit would help your chances to but this isn't mandatory.

£5000 over 36 months would be approx £170 - £175 per month but over 48 months the payments would drop to approx £135 to £140 per month. Please make an application and once accepted you can get a car from any dealer. Kind Regards, Rachel

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