Skip to content

Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
image description

Edwin Miles. Underwriting Manager

Car Finance Calculator

Calculate your loan immediately

close

How can I help you?

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.

Car Finance for Young People

Hello, I have just graduated from university and currently work 30 hours a week at a phone store permanently. This is my 4th month at the job.

I live with my parents at our house for 12 years and am 22 and am on the voters register. Would i be able to get car finance for a decent hatchback? I'm currently earning £900 per month from work.

Posted by Charles Elijah on

Answer.

Hi Charles, thank you for your question. You've come to the right place and i'm confident we can help as you have a good monthly income.

It's important that you have your payslips to hand as the finance companies we work with will ask for proof of income. If you're accepted (dependent upon your credit history) we will be able to get you into a little hatchback with no problems at all. How much are you looking at spending and how long do you want the finance over?

Lastly, do you also have a full UK driving licence? If so, please make an application here and once approved we provide a no obligation quote and you can choose a car from any dealer. Kind Regards, Edwin

Posted by on
5/5

Rate Edwin’s advice.

image description

Question.

I am 18, been employed for 8 months. Currently earn £900-£1000 a month in my full time job, I live at home with parents. Really need a car on Finance, have tried one place but they refused me straight away. Do you think this is my age? How long ive been employed? Really need a car, credit would be best but could a loan from elsewhere be any good or would they say No straight away also? Thankyou

Posted by Me on

Answer.

Hello, your age may well be the only issue here and the fact that you may have no credit whatsoever. Is this the case or do you have any other loans or credit cards? The good news is that you're working and you can prove your income but it may be best to make a joint application with one of your parents acting as a guarantor. This would improve your chances of getting accepted greatly. How much were you looking to borrow? Kind Regards, Edwin

Posted by on

Question.

Hi Edwin, I will be 22 in Novemeber and i am looking to get finance for a car. I have a very good credit rating as i have never missed a payment. The only thing bringing me down is i have never been on the voting role (i am due to be put on in decemeber) and also i have had alot of checks recently due to tryng to get a loan....will i be able to get finance?

Posted by Alanna on

Answer.

Hi Alanna, as you're still quite young it may be best to try and get a guarantor to apply with you as this would strengthen your chances of being approved. Is this possible? It's great that you have a good credit score and history but getting on the electoral roll would prove a big boost if you can't get a guarantor now. It is possible to get you car finance but i can't guarantee an approval at this stage without seeing your credit report. Please apply when you feel ready :-)

Posted by on

Question.

Hi, i have been looking for ages now and have got nowhere. I was wondering if you could help me as i'm young with no credit history but my credit rating is good but still got nowhere in obtaing car finance. Thank you

Posted by Mason on

Answer.

Hi Mason, where have you applied for car finance in the last 3 months? If you can let me know it'd help me advise you on whether we can help or not. To build up your credit profile i'd advise to get a small limit credit card from your bank and a contract mobile phone. It's very important to set-up direct debits though to pay your payments each month. Edwin

Posted by on

Question.

Hi, I'm only 19 and will be turning 20 in 2 months. I have tried getting a loan but have been refused. I'm earning £1300-£1400 a month after tax and i have been working for a year now. Would i be able to take out a loan now even though i don't think i have any credit rating. Also i'm currently living with my parents.

Posted by Aaron on

Answer.

Hi Aaron, we may be able to secure you £4000 approximately as long as you're on the electoral roll, have a bank account and can prove your income. If this is the case please apply. Edwin

Posted by on

Question.

Hi, I'm a young driver (d.o.b. 26/04/1994) and I was wondering what the chances of me getting finance for car and what would I be able to get? I'm not to fussy if there's interest on top, I'm on electronic payroll and get about £900-1000 a month after tax. I have got a credit card and mobile on contract and currently my car insurance is paid each month too. If I was eligible for finance would I have to pay my credit card fully off first? Thanks, Paul

Posted by Paul Crombie on

Answer.

Hi Paul, thank you for your question. We have many lenders who help young drivers like yourself and it's great news that you current;y have some credit in the way of a credit card and contract mobile phone. This will help undoubtedly. The fact that you have a decent income works in our favour too. If approved you wouldn't have to clear off your credit card as this isn't a requirement. I'd also imagine that we could get you approved for circa £4000. Would this be ok and do you have a deposit? Kind Regards, Edwin

Posted by on

Question.

Hello, I am almost 20 years old and I have been working an apprenticeship for one year earning £300 per month. I have also been receiving an allowance of 250 per month form my parents.

I live in my parents house and do not have to pay any bills or rent to them. I have 2 top up credit cards and have always used them to the full. I did have one blip and whilst on holiday in Italy for the summer holidays during college & I let a payment on my mobile phone (7 weeks - 2 and a half years ago) bill go overdue and I believe my credit rating is poor.

I really want to buy a car on finance as my job has now changed and I will be earning £850 per month net. My mobile phone is paid by my mother through her account. Is there any chance of getting a loan for a car?

Posted by Leanne Summers on

Answer.

Hi Leanne, thank you for your question.

We do have lenders on our panel that help younger people obtain car finance and as you are employed, have a good income, have a stable residential history and some current credit i'm confident we could get you approved for car finance. To make your chances even stronger would you consider making a joint application with one of your parents? If so, you can do this on our website (please get your parents permission first).

Please make an application when you get a minute. Kind regards, Edwin

Posted by on

Question.

Hi, i am 18 and looking for a car. I work full time in a retail store and earn about £150/170 a week.

How much will it be if I got a decent small car just to get me to work and around town?

Posted by Thomas on

Answer.

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

As you are employed full time there is a good chance we can get you approved as long as you have a UK licence, 3 months payslips and some current clean credit history (bank account, contract mobile phone, credit/store card etc).

If this is the case please make an application here. The amount you repay depends upon the amount you wish to borrow and over what time period. Kind Regards, Edwin

Posted by on

Do you have a question on this topic?

Ask a question or leave a comment on this topic below

Back to Car Finance Expert Q&A

Back to top