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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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I have a provisional driving licence - can i get a car loan?

Hi, I have quite a bad credit rating, is it possible for my girlfriend who has a excellent credit rating but only a provisional license to apply? Many thanks

Posted by Glenn Brayshay on

Answer.

Hi Glenn, thanks for using the Q&A.

I would advise to make a joint application and we'll see where we can get you both approved. I assume the car is for you - if so, you'd have to be on the agreement as the main hirer. We do have lenders that help people with past credit issues and provisional licences so it makes sense to have you both on the application assuming your girlfriend is happy with this. If she is not then we may still be able to help you on your own. Obviously we can't guarantee an approval but we'll certainly try our best to get you approved at one of our large panel of lenders.

I think it'd be best if your girlfriend acts as a guarantor and we tried to get you approved as the main hirer. She would have to be made aware that if you missed any payments it would effect her credit rating so please get her permission before applying for car finance. When is your girlfriend due to take her driving test? Either way i think we can help. How bad is your credit rating - can you expand a little as we have many lenders who help people with bad credit histories?

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

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Question.

Hi, I've got a poor credit score (Equifax 364) due to one default from Oct 2006 and not being on Electoral roll.

All my other credit agreements are up to date and i have no missed payments in the last 4-5 years. I am looking to buy a car for my wife as I only have provisional licence.

She has a good credit score but unemployed. I am a private tenant and in full time employment and looking to buy new car (£10-15k) and can put in up to £2500-£3000 as a deposit. Can I get bad credit car loan?

Posted by Vic on

Answer.

(Updated 14/03/2015) Hi Vic, thank you for your question. My advice would be to make a joint application for car finance on our website.

We now have lenders on our panel that help people with provisional licences, but as your wife has good credit adding her on to the application (with her permission obviously) will strengthen your chances of getting approved.

As your wife is unemployed you can add her occupation as "Housewife" on the employment stage of the application process. The fact that you have a large deposit will also help matters. As you'll understand we can't guarantee an approval at this stage but please make an application when you're ready and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

Edwin thank you for looking into this. Can you explain what you mean by "your wife's name and create a job for her."?

Posted by Vic on

Answer.

Hi Vic, yes - when your wife makes an application on the employment status page place down housewife as her occupation. If she has good credit we should be able to get her approved.

Posted by on

Question.

Thank you Edwin, great help

Posted by Vic on

Question.

Hi, i only have a provisional license at the moment but i'm looking to get car finance for a car. I also have bad credit too!

Are there any lenders that will give me finance and ask for a reasonable deposit? Thanks

Posted by Craig Cantlon on

Answer.

Hi Craig, we do have a lender that helps people with bad credit and provisional licences. Are you on the electoral roll and can you prove your income? If so, this will aid our chances of an approval.

You also mentioned a deposit - how much could you stretch too? Lastly, if we do get you approved the maximum realistically that you'll be able to borrow is circa £5000 (maybe more depending upon your income & expenditure). 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

Posted by on

Question.

hi edwin, no im not on the electoral roll and im only looking for around £3000 and i can stretch to around a 10% deposit! Thanks

Posted by Craig Cantlon on

Question.

I also meant to add: I'm self employed and i have bank statements and hand written payslips with a stamp date. Thanks

Posted by Craig Cantlon on

Answer.

Thanks for the feedback Craig - i'd advise you to get on the electoral roll for a month and then apply with us as our lenders like to see traceability.

As you're self-employed we'd also need to see 3 months bank statements to prove your income. Kind Regards, Edwin

Posted by on

Question.

I have a provisional licence and would like to get finance for a car. I have a poor credit rating but i am in full time employment earning £1000 a month. Is there a lender who would accept me that do not charge extreme interest rates? I'm not expecting the best rates but dont want to pay huge rates either. I need help!

Posted by Lisa on

Answer.

Hi Lisa, i have a handful of lenders in mind that hopefully will be able to help. The lenders decision will be based solely on your credit history and employment status. They will also determine the rate you receive. Please apply and we'll see what we can do. Good luck. Regards, Edwin

Posted by on

Question.

Hello, i have just passed my test and was woundering how long is it before i can apply for car finance?

Posted by Victoria on

Answer.

Hi Victoria, congratulations! Please send off for your licence asap. As soon as you have it in your possession you can apply. How much finance are you looking for and do you have a deposit? Also, do you have any finance agreements in your name currently? Edwin

Posted by on

Question.

Hi there, i'm a learner driver and looking for a first time car. My husband has a full licence and i have a provisional just now. We were wanting to get a car on finance but in my name. Is there any way of doing it in my name instead of his?

Posted by Emma on

Answer.

Hi Emma, yes - we have a few lenders that approve people with provisional licences. How is your credit history? If you and your husband both have a fair/good credit history and you need a car now i'd advise you to make a joint application for finance. Adding your husband onto the application may well strengthen our chances too.

If you can wait it may be best to get your test passed first so that you have more options when it comes to getting approved with more lenders offering more choice but i'll leave the decision down to you. I hope that helps and i look forward to receiving your application in due course. Kind Regards, Edwin

Posted by on

Question.

Hi Edwin, i have a provisional licence and am looking for car finance. I'm on the electoral roll and have a fair credit score of 791. Can you help? I would have £500 deposit. Thanks

Posted by Chris on

Question.

I hold a provisional licence and work as a self employed carpenter. My work partner holds a licence but doesn't want to get involved in another vehicle. At present i own my vehicle but need to upgrade because of the London emission zone but am struggling to get finance. What can i do?

Posted by David on

Answer.

Hi Chris, as you have fair credit and a provisional licence i do have a lender in mind that will be able to help. Please apply and we'll try our best to get you approved for finance. Edwin

Posted by on

Answer.

Hi David, we do have one lender that will be able to help as long as you can prove your income and have a 10% deposit. Also are you on the voters roll at your current address? Edwin

Posted by on

Question.

Hi there, my partner has a really good credit score of 889 with experian. There's no late payments or anything etc. However he only has a provisional licence. Will he be able to get finance with that licence? And if so what sort of budget would he get and what would payments be on that budget? Also how does it work - does he choose car and then you cover the finance? Thanks nicole

Posted by Nicole on

Answer.

Hi Nicole, thank you for your question. If your partner has a good credit score then we do have a few lenders on our panel that help people with provisional driving licences get car finance. The amount he'd pay depends upon the term of the loan and if approved your partner can choose a car from any local reputable dealership. Kind Regards, Edwin

Posted by on

Question.

hi there, can i get car finance i have a good credit rating , employed and own my home with no mortgage. thanks

Posted by Jackie on

Answer.

Hi Jackie, yes this is possible. We may need you to prove your income and obviously supply a copy of your driving licence.

After you apply we'll search the market to get the best rate for your circumstances. Kind Regards, Edwin

Posted by on

Question.

I should have said i only have a provsional licence does that make a difference. thanks

Posted by Iackie on

Answer.

Hi Jackie, we can still help even though you have a provisional. Kind Regards, Edwin

Posted by on

Question.

Hi, i asked this question in August about my husband with his provisional and you said no he would need to have a full uk licence. However i'm confused as every single person on here has been told they can still apply is this not the case im confused ???? thanks

Posted by Nicole on

Answer.

Hi Nicole, we now have a larger lending panel which enables us to help people who have provisional licences get car finance even though they have a good/fair or poor credit history. Sorry for the confusion.

Posted by on

Question.

Hi, I've got very good credit rating, but have only provisional drivers license, also I can deposit up to £10000 pounds, looking for Range Rover Vogue 09 or 10 reg, can you help?

Posted by Sogi on

Answer.

Hi Sogi, as you have a large deposit and a good credit history we do have a few lenders that we can get you approved with even though you just have a provisional licence. Please make an application when you're ready. Have a good weekend.

Posted by on

Question.

Hi there, Is there a certain amount of credit you can borrow agains a provisional. Even with excellent credit?

Posted by Lewis on

Answer.

Hi Lewis, Not necessarily. It will depend on your credit history, your income and your age. Lenders tend to base the amount they will be willing to lend on both your age, income and level of active credit. Generally those younger than 21 will struggle to get any more than £5000 as generally such customers don't have a lot of credit. If you are over 21 and earn £1250+ per month then you have a better chance of securing a larger advance. However similarly you will need to have some comparable credit such as a credit card/loan/ mortgage. It will also help if you are registered on the electoral roll. I hope this makes sense. Kind regards, Edwin.

Posted by on

Question.

Hi, my boyfriend is wanting to buy me a car on finance but he has a provisional licence is this ok? Will he still be accepted for finance?

Posted by Tabitha on

Answer.

Hi Tabitha, unfortunately our lenders won't allow your boyfriend to buy you a car on finance in his name. If teh car is for you you'd have to make the application for credit. If your boyfriend is willing to do so he can act as a co-hirer to help strengthen the application for finance.

We do also have lenders that help people with provisional licences get car finance. 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, Edwin

Posted by on

Answer.

Hi Larna, It is possible to gain vehicle finance when in possession of a provisional licence. Currently we have a few lenders on our panel who will finance customers with a provisional licence. They sometimes require you to have some form of comparable credit such as a loan, credit card or previous hire purchase agreement and also that you're employed.

Does this sound like you? If yes then great, if not then don't worry, we still may be able to do something if you have someone who could go on the application with you with a full driving licence, I hope this helps. Kind regards Edwin

Posted by on

Question.

My mum has bad credit and a part time job and we are in desperate need of a car.

My question is as i'm 19 and never had any trouble with my credit rating (but do not work as I get disability) do you think we can get finance if we apply for a joint application.

Posted by Lauren on

Answer.

Hi Lauren, thank you for your question.

Making a joint application would indeed help your chances of being approved for car finance as you have some clean credit history and we'll be able to take both sets of income into account. We do have lenders that help people with poor credit so there is a possibility we can get you approved.

Please make an application when you get chance. Kind Regards, Edwin

Posted by on

Question.

Hi, I have got a fair credit history, no missed payments or any defaults. I hold a provisional license.

I would like to get a loan for £3000 for my first car with no deposit. Is there any chance to get me a car finance? Thanks in advance.

Posted by Klaudia on

Question.

Hi, I'm currently a provisional licence holder but I am due to take my test in 8 weeks. Would I be able to get a used car on finance (to the value of £4000) with a reasonable rate?

I am in full time employment and my credit rating is 746 on experian which is fair. Is it worth applying?

Posted by Louise on

Answer.

Hi Louise, thank you for your question.

As you have a provisional licence and fair credit you'd need a joint applicant to add onto the application for us to realistically get you accepted. I'm confident we can do something if this is possible as you are employed with a fair credit score.

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

Posted by on

Question.

Hi, I have a provisional license but I'm wanting to get my first car on finance.

I have good credit and I'm employed. I'm 19 years old. Is it possible for me to be able to get a car on finance? Thanks

Posted by Keely Newell on

Answer.

Hi Keely, thank you for using our Q&A

It is possible for us to secure car finance for those with a provisional licence. To improve our chances of getting you accepted you could always add a guarantor to the application (with their permission of course).

As you're employed and have good credit that will obviously go in your favour. Please make an application when you're ready to do so and if approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

I am looking for a very small loan for a car i have seen. I am a full time carer for my son who is getting DLA and i am currently on a provisional license but due to take my driving test within the next month.

I am getting confused with what income i need to put in the boxes for my application, my credit is fair rating, how can i go about this? I would like to get a car to improve my confidence when my family are with me, so i know i am ready for the open road once i pass my test. Please note i don't get motability for my son as he is not on the higher rates of dla.

Posted by Sally on

Answer.

Hi Sally, thank you for your question and apologies for the delayed response.

The good news is that we do have lenders on our panel that help people on DLA and who have provisional driving licences get car finance. On the application form please just place in the income you receive from benefits.

We can't guarantee an acceptance at this stage but 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, Edwin

Posted by on

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