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.

What is the minimum age to apply for car finance?

Hello Edwin, what is the minimum age to apply for car finance?

Posted by Geraldine Kennedy on

Answer.

Hi Geraldine, the age you have to be to apply for car finance can vary from lender to lender as they all have different criteria.

However, in the main most lenders can potentially help people that are 18 and over. How old are you and what is your credit history like? To get approved (if you are under 21) you'd have a greater chance if you added a co-hirer such as a parent.

Please make an application when you've considered your options 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
4/5

Rate Edwin’s advice.

image description

Question.

I was wondering if I'm eligible to get an Audi a1 1.2 5 door car on finance? I'm 18 years old and live in the UK with a full UK licence.

Posted by Fayaz Hanif Gani on

Answer.

Hi Fayaz, thank you for your question.

Due to your age you may well struggle to secure finance for an Audi A1 without a co-hirer on the agreement. Would it be possible to add a parent to the agreement with their permission obviously?

The amount you'll be able to borrow will also depend upon your current credit history and income. Are you employed, can you prove your income and do you have any current clean credit history? All of this would aid our chances. A deposit would also help greatly.

Please carefully consider your options and 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

Question.

Hi, I have very recently turned 18 years old and have a full UK licence and have only had my current bank account for 2 months.

I have no negative credit history so i guess that's classed as fair and am unable too add a co-hirer due too personal issues. I am employed full time making about £12-14k a year being paid every 2 weeks.

I want to finance one of the 2015 plate Volkswagen Polos with a 1.2L engine. So, i want to borrow/spend around £10-12k on the car and then pay it back over the next 60 months.

Will i still be able to manage this in my current situation? If you could help me out it would be very much appreciated. Thanks!

Posted by Ashley Baldwin on

Answer.

Hi Ashley, thank you for your question.

Due to your age, income and lack of credit history it'll be very unlikely that we'll be able to get you accepted for £10,000. As you don't have a co-hirer that also doesn't help our chances.

We could get you accepted as we do have lenders that help young people secure finance but the amount you can borrow will depend upon your income. Earning £1000 per month you could potentially borrow £5k-£6k if approved but this will be determined by the lender we get you accepted with.

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

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