Car Finance terms beginning with Y

Years at Current Address

The number of years that you have lived at your current address will be taken into consideration when you are applying for car finance. If you have lived at your current address for less than 3 years you will also need to provide any prior addresses to complete the 3 year period. This check is completed by lenders to ensure that you good traceability.

Year to Date Earnings

Some lenders might look at your year to date earnings to enure that you have the affordability needed to make regualar loan repayments. Year to date earning take the figure your have earnt over the course of the year and divide it by the number of months that have passed in that year.