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Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
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Edwin Miles. Underwriting Manager

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Do you have a question about Carfinance247 or its services? If so, please complete the form below for a response within 1 working hours. I have over 7 years experience working for Carfinance247 and have the responsibility to answer all questions asked.

Do you have to be on the Voters / Electoral Roll to get approved for car loans?

Hello, i would like to ask you a question.

I want to apply for car finance on your website but i'm afraid i'm not going to be accepted because i am self-employed and i'm not on electoral roll.

Posted by Andrei on

Answer.

Hi Andrei, In regards to your question, yes we do have car loan lenders that will accept customers that are self employed and not on the electoral roll.

However, when accepted the finance company may simply ask you to provide some sort of proof of income E.G. Bank statements. The finance companies may also ask you for proof of Self Employment in the form of a letter from the inland revenue or your accountant.

Finally, with you not being on the electoral roll this simply means that it is more difficult for lenders to trace you but it is still possible to get car credit.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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Question.

Hi Edwin, I have just very recently moved house. I am not on the current voters roll at my new address. I am still on the electoral roll at my old address. Does this matter or can i still apply for car finance? Thanks, Sheila

Posted by Sheila on

Answer.

Hi Sheila, thanks for your question. No - it doesn't matter that you have just moved address at all. Please just put your current and previous address on the car finance application form and we'll carry out searches to see your credit at both addresses to see which lender on our panel can get you approved. It is important that going forward you get yourself removed from the voters / electoral roll at your old address and get yourself on the voters roll at your new address. I hope this helps. Kind Regards, Edwin

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Question.

Do you have to be on voters roll before you can get finance for a car?

Posted by Margaret on

Answer.

Hi Margaret, as you can see from my answers to similar questions above it certainly helps if you're on the votors / electoral roll but you won't be declined just because you're not. It doesn't take long to get on the electoral roll - just ring your local council and ask them to send out an application form. Complete this and post it back and within 4 weeks you should be showing. If you're not in a major rush for a car i'd suggest waiting until you're on the electoral roll as it certainly improves your chances of being approved. Kind regards, Edwin

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Question.

Hi, i'm 22 and have worked full-time for a year now and earn about £15000 per annum. Does my age go against me when applying for car finance and the fact that i only have a years worth of employment? I'm not on the electrol roll but i also have a contract phone / had a good crdedit check from HSBC. I also have a large deposit of £2000. Will this help me? Many thanks

Posted by Ashley on

Answer.

Hi Ashley, lenders do indeed take into account an applicants age when assessing how much to lend or whether to approve a person. They are looking for a good, clean & active credit record so they have some history to base their decision on. This isn't however to say that they can't help you as you're 22. You have a better chance of being approved than someone who's 18 with not credit history whatsoever. The great news is that you have a good income and you have a contract mobile phone. Do you have any other forms of credit in your name? The fact that you also have a large deposit also helps massively so i'm confident we can do something for you. I would however advise for you to get on the electoral roll at your current address before applying. Kind Regards, Edwin

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Question.

Hi, When does the debt to income ratio become an issue? At present I still have around £27K unsecured debt against an income of around £58K - Would finance still be possible in this instance Alternatively, my wife earns approx. £9K p.a. part-time with no debts - would she be in a better position? Thanks.

Posted by Phil on

Answer.

Hi Phil, sometimes lenders do look at your current indebtedness and have to make a decision on whether they think you're over stretched or not. However, each lender that we deal with is different. As long as you're on top of your monthly payments i'd imagine we'd get you approved with no problems. It may be a good idea to add your wife onto the application as it may strengthen your case. Edwin

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Question.

Hi, I'm looking to get car finance but i have a very poor credit report. I have a few defaults which i am currently paying off it all totals up to £4000. I could put a deposit of £1000 down too. I have got a mobile phone contract which i pay on time and also on the electoral roll. What are my chances of obtaining finance? Thanks.

Posted by Sarah on

Answer.

Hi Sarah, as you now have some current active clean credit and a large deposit i'm pretty sure we'll get you approved for a car loan. Please apply when you get 2-3 minutes and we'll go from there. Have a good evening. Edwin

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Question.

Hi, I'm 26 years old. I have a credit rating of 950 (good) with Experian but I am not on the electoral. My take home after tax is £1850. I have a mobile contract and an overdraft which I rarely use. What finance amounts in your experience do you feel I would be able to receive depending on deposit amounts? Thanks in advance.

Posted by Bob on

Answer.

Hi Bob, as you have a good credit score we'll be able to get you approved even though you're not on the electoral roll. The amount you can borrow will depend on your income and deposit amount. Can you let me know what this is? Kind Regards, Edwin

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Question.

ive recently applied for finance for around 3,000 but got turned down, my credit expert account says my credit score is excellent but as ive moved 3 times in the last two years and not been on the electoral roll i feel this is going against me, is there ways i can still get finance without it looking bad on my credit score with all the rejections?

Posted by Nik on

Answer.

Hi Nik, You don't necessarily need to be registered on the electoral roll in order to gain finance. However it can go a long way in helping obtain an approval as it shows the lenders you are traceable. It will also help if you re register any active credit to your current address. There may be something we can do to help you. With regards to your credit profile we will run a shallow credit search (to see which woulod be the best lender for you) which should show as an enquiry on your credit profile but this is the only way to see if we could gain you an approval. Kind regards,Edwin

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Question.

Hi there, Is it possible to gain car finance if i'm not on the voters roll? Thanks

Posted by Don on

Answer.

Hi Don, It is not necessarily essential that you are registered on the voters roll however it can go a long way in helping secure an approval as it shows lenders your traceability. Approvals are largely dependant upon your credit profile. Do you have any idea what your credit is like? poor? fair? good? excellent? Whatever the answer is we may be able to help you. We deal with most of the lenders currently on the market and manage to secure 90% of our customers and approval including those not registered on the electoral roll. I would advise however that you get yourself registered on the electoral roll anyway, its really simple just contact your local authority. I am fairly certain you can even do it online now. Thanks Edwin

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Question.

Hi Edwin, I live with my parents and don't seem to be registered on the electoral role. I have applied for a loan and been declined. I have a credit rating of 531 and have managed to get a phone and credit card that is registered to my address. Is it going to be possible at all to get a loan. I have a car for part exchange probably worth 2000-2500. Please help! Thanks Tracey

Posted by Tracey on

Answer.

Hi Tracey, Thank you for using our Q&A. The good news is we should be able to help you. We work with most lenders on the market and do manage to secure most of our customers an approval. Being registered on the electoral roll does increase your chances of an approval as it shows the lenders traceability. I would advise that you contact your local council and get yourself registered as the longer you are on it the higher your chances of an approval. However it may be worth applying with us now anyway so we can see if we can do something. It may be worth putting a parent on the application if you have this option as this may strengthen your chances. I hope I have answered your question. Edwin

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Question.

Hi Edwin. I need car finance but i'm not on the electoral roll at my home. I am on the roll at my sisters house where I used to live. I have no mortgage, I have a 15,000 loan with my bank never missed a payment.my basic wage is 37,000. is there anything your company can do for me. I dont want to keep applying to other companys damaging my credit rating

Posted by David on

Answer.

Hi David. We may be able to help you. The fact that you are registered on the electoral roll at a different address does make things slightly more difficult however it doesn't mean we won't be able to get you approved. Please make an application when you are ready and I would advise that you get yourself registered at your current address as soon as you can. Thanks Edwin

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Question.

Hi, i'm currently on disability living allowance due to injury. Can i still obtain finace with a second driver in mind till im better, with decent deposit? I'm on the electoral roll ect what are my chances with very poor credit history ?? Thanks mark

Posted by Mark, on

Answer.

Hi Mark, We may be able to do something for you as long as you have a net monthly income of over £800 (excluding benefits apart from dla). Your DLA would also need to be permenant. I hope this helps. Edwin

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Question.

I have credit score of about 750 but I'm not on the electoral Roll and I don't have a deposit either but I do have a contract phone in my name. What do you think my chances are of getting car finance?

Posted by Vince on

Answer.

Hi Vince, it's really hard to say without seeing an application and taking a closer look at your credit profile. However we deal with many lenders who will finance customers in your situation. I would advise however that you get yourself registered at your current address on the electoral roll as soon as this shows the lenders your traceability.Please make an application so we can see what we can do. I hope this helps. Edwin

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Question.

Hi, I wonder if it would be possible for me to get a £6000 car loan? I am not on the voters roll at the moment but I have a full time well paid job for over 5 years and have been at my address for the same time. Thanks

Posted by Lauren on

Answer.

Hi Lauren, I hope you are well. It really depends on your credit profile. Do you have any idea what your credit profile is like? Being registered on the electroral roll isn't essential but it can definitely help as it shows the lenders your traceability. I hope this helps. Edwnin

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Question.

Hi there, I have a mixed result on credit files even though all are up to date, experian is 961 but equifax is 371. I have just put my name down on electoral role but waiting for that to be updated. I'm looking to borrow £12k with a £3k deposit. I earn £35k salary. Any advise greatly appreciated. Martin

Posted by Martin L on

Answer.

Hi Martin, as you have a good salary and a large deposit i'm confident we could help. The fact that you have just placed yourself on the electoral roll will help too. Where is all of your current credit registered too? Your current or old address?

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Question.

Hi Edwin, my current credit is at my current address. I don't have much only bank phone and a credit card that I fully pay each month. I do however have 3 defaults at an old address left to pay which I'm looking to do before applying. They are 5 years old now, but of small amounts so with my salary situation an easy fix

Posted by Martin L on

Answer.

Thanks for the response Martin. It's good news that your current credit is in your new address and the fact you'll be settling your old debt before applying will certainly help too. Please make an application when you feel ready. Regards, Edwin

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Question.

Hi, I've recently been refused credit for £7500 over 60 months by a few people just because i'm not on the electoral roll, even though i've been at the same address for around 10 years and used to be on the register a while ago (I'm only 20).

I have 100% payments on time and work 48 hours + a week, currently only have 1 finance from Hitachi of £39 a month. Is there any chance of being approved here as i am in need of a new car?

Posted by Thomas Bennett on

Answer.

Hi Thomas, thank you for your question.

As you are employed with some current clean credit history i'm confident we could get you approved for finance. A deposit would help your chances and a guarantor too (due to your age) but this isn't mandatory.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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