Help & Advice

How do i apply for car finance with less than 3 years address history?

Hi, I would like to apply with you. But it requires i put three years worth of address history into the application.

I have only lived in the UK for 18 months. I do have a fair credit history and do have a credit profile and one or two other things in my name. How can i proceed?

Gareth


Answer

Hi Gareth, thank you for your question.

We may be able to get you approved if you have had some active credit whilst you were out of the UK (bank account, credit card etc) or are you not a UK citizen?

If you have literally only been in the UK for 18 months there's no way of us getting you approved as lenders require 3 years address history to be able to offer a car loan. This purely prevents people from coming to the UK, getting a loan for a car and then deciding they want to go back home again leaving the lender with the only choice of collecting the car and selling it for a loss at auction.

If the first instance is the case then please make an application with your previous UK address history and once approved we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Rachel

Answer correct as of September 2016

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Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

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More related questions

Hi Rachel . I use to live in Southafrica but me and my wife imigrated here 18 months ago . This is the first time we have come to the UK. Would this be a problem?

Answer

Hi Gareth - shouldn't be a major issue as long as you're on the electoral roll at your current address. Please make an application and we'll go from there. Rachel

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Rachel Wilson, Underwriting manager

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Rachel Wilson, Underwriting Manager

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Hitatchi

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender