Can A 21 Year Old Get Car Finance?
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 which is in my dad's name but I pay the money.
I was wondering if I would be approved finance of around £5000 over 36-48 months and how much my payments would be a month. Many thanks, Connor
January 17, 2014
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