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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Car Finance On Jobseekers Allowance

I am 18 years old, on Jobseekers Allowance and have recently passed my driving test. Can you advise me if there any options for car finance?

I am on the electroral list, have a bank account, but I don't have any loans, or store cards.

Posted by Mark on

Answer.

Hi Mark, thank you for your question.

As you're 18, on the electoral roll and have some credit history (UK bank account) there is a possibility that we can help as we have lenders on our panel that approve people who are on JSA. However, due to your age and lack of credit history we may struggle a little. To give ourselves a better chance of obtaining an approval would you have a guarantor to add to the application at all (friend or family member)?

Either way 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, my mum and dad wouldn't be an option as they both have poor credit ratings. The only option would be my brother. He is 21, in employment, has a bank account and currently has a loan that has he has maintained payments on. I wouldn't be looking to take out anything more than £3000, but as I am unemployed I don't have a deposit.

Posted by Mark on

Answer.

Thanks for the feedback Mark. Adding your brother wouldn't strengthen the application if i'm honest. Please make an application and we'll try our best to secure you the funds required. Edwin

Posted by on

Question.

Hi Edwin Can I ask why?

Posted by Mark on

Answer.

Hi Mark, purely based on his age.

Posted by on

Question.

Hi, I am 27 and have just passed my test. I'm not in work at the moment and could really do with a car so i can go for jobs out of my travel distance. I do not have a chance of a guarantor for a loan as all my family have bad credit. Could you help please?

Posted by Pauk on

Answer.

Hi Paul, as you're unemployed and have no income we wouldn't have a lender that could help unfortunately. If your circumstances change in the near future please make an application. Have a good evening. Edwin

Posted by on

Question.

Hi Edwin, I am looking to borrow around £3000 and have around £500 available for a deposit. I do not have a job, I haven't been in employment for approximately a year, I receive JSA, I have been on the electoral roll for over 3 years and had my bank account for over 5 years.

I'm 22 with no credit agreements other than telephone and broadband bills and really need to buy a car to help me get in to employment. My father receives Pension Credit if that helps in terms of a guarantor. What are the chances of me getting approved and approximately how much would I be looking to pay monthly over the longest possible period on offer? Thanks

Posted by Billy on

Answer.

Hi Billy, thanks for your question.

As you have a deposit, are on the electoral roll, have a UK bank account and can use your father as a guarantor we do have a chance of getting you approved for £3000.

Please make a joint 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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