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Am I eligible for car finance?



To make an application for car finance you must be at least 18 years old or over. This applies to all other types of credit applications. Age is an important factor in the finance agreement as lenders have to be responsible and ensure that their customer is of an age where they fully understand their responsibilities within the finance agreement.

Yes, to be eligible for car finance with us you must be under the age of 75 at the beginning of the finance agreement. This age limit is set to reduce the risk of the customer to the lender.

UK residents that have been living in the country for less than 3 years are unlikely to be accepted for car finance. Lenders place a high level of importance on the location that a consumer has been living in to ensure that they could trace the customer to a new location if anything were to go wrong with the payments of the finance agreement.

Unfortunately, no. To be accepted for car finance with Creditplus, you'll need to be a UK resident. If you've lived in the country for less than 3 years, we'll be unable to help you. However, if you're living in the UK, but have a European driver’s licence, then we may still be able to help you.

When making a decision on a finance application all lenders will want to ensure that the person they are lending the money to is able to repay the car loan as agreed in the finance schedule and having a regular income is a big part of this. If you're unemployed and have a good credit rating and you're able to get a Guarantor to make the application with you, then we may be able to help.

It's often wrongly assumed that if someone is on a form of benefits or tax credits, that they won't be accepted for car finance. However, as there is more of a risk for the lender, it's important that the customer can also prove that half of their income is from employment. If you're unable to prove this, then you're unlikely to be accepted for car finance.

Examples of benefits that can be used as part of your income are; Carer’s Allowance; Local Council Tax Support; Disability Living Allowance; Tax Credits; Incapacity Benefit (long term incapacity); Pension Credit; State Retirement Pension.

If you've been refused car finance it's always a useful idea to find out why your application has been declined and what credit agency the lender used. This is useful to know because it may identify the necessary actions you need to take to address the situation, such as simply registering on the Electoral Roll, or paying off any outstanding debt on your Credit File.

Once you've successfully identified the reasons for being refused car finance and rectified these, it's worth applying again. However, it's always advisable to wait 3-6 months before doing so.

You must have a valid, full UK driving licence in good condition (photocards expire after ten years) otherwise your finance application cannot be processed. There are some lenders on our panel who'll accept a provisional driving licence. In addition to this, it's worth noting that if you have 9 points on your licence, you may struggle to obtain a car loan, as you'll pose a higher risk to the lender if you lose your licence. 

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Back

Am I eligible for car finance?


To make an application for car finance you must be at least 18 years old or over. This applies to all other types of credit applications. Age is an important factor in the finance agreement as lenders have to be responsible and ensure that their customer is of an age where they fully understand their responsibilities within the finance agreement.

Yes, to be eligible for car finance with us you must be under the age of 75 at the beginning of the finance agreement. This age limit is set to reduce the risk of the customer to the lender.

UK residents that have been living in the country for less than 3 years are unlikely to be accepted for car finance. Lenders place a high level of importance on the location that a consumer has been living in to ensure that they could trace the customer to a new location if anything were to go wrong with the payments of the finance agreement.

Unfortunately, no. To be accepted for car finance with Creditplus, you'll need to be a UK resident. If you've lived in the country for less than 3 years, we'll be unable to help you. However, if you're living in the UK, but have a European driver’s licence, then we may still be able to help you.

When making a decision on a finance application all lenders will want to ensure that the person they are lending the money to is able to repay the car loan as agreed in the finance schedule and having a regular income is a big part of this. If you're unemployed and have a good credit rating and you're able to get a Guarantor to make the application with you, then we may be able to help.

It's often wrongly assumed that if someone is on a form of benefits or tax credits, that they won't be accepted for car finance. However, as there is more of a risk for the lender, it's important that the customer can also prove that half of their income is from employment. If you're unable to prove this, then you're unlikely to be accepted for car finance.

Examples of benefits that can be used as part of your income are; Carer’s Allowance; Local Council Tax Support; Disability Living Allowance; Tax Credits; Incapacity Benefit (long term incapacity); Pension Credit; State Retirement Pension.

If you've been refused car finance it's always a useful idea to find out why your application has been declined and what credit agency the lender used. This is useful to know because it may identify the necessary actions you need to take to address the situation, such as simply registering on the Electoral Roll, or paying off any outstanding debt on your Credit File.

Once you've successfully identified the reasons for being refused car finance and rectified these, it's worth applying again. However, it's always advisable to wait 3-6 months before doing so.

You must have a valid, full UK driving licence in good condition (photocards expire after ten years) otherwise your finance application cannot be processed. There are some lenders on our panel who'll accept a provisional driving licence. In addition to this, it's worth noting that if you have 9 points on your licence, you may struggle to obtain a car loan, as you'll pose a higher risk to the lender if you lose your licence. 

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CAR FINANCE
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Help and advice
Glossary
Blog
WHAT WE DO
Car finance
About us
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Contact us
YOUR VEHICLE
Car valuation
Find, fund and deliver
Used car search
Car deals
Protect your vehicle
LEGAL
Terms and conditions
Privacy policy
Cookies
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CAR FINANCE

Loan options

Vehicles we finance

Bad credit car finance

Help and advice

Glossary

Blog

WHAT WE DO

Car finance

About us

Careers

Contact us

YOUR VEHICLE

Car valuation

Find, fund and deliver

Used car search

Car deals

Protect your vehicle

LEGAL

Terms and conditions

Privacy policy

Cookies

Complaints

Copyright © 2021 Creditplus. All rights reserved. Apply Today

Copyright © 2021 Creditplus. All rights reserved.

Creditplus is a credit broker and not a lender. For our introduction to our panel of Finance Providers, we may receive a commission and/or fee.
Creditplus is a trading name of Whichdeal Limited, which is directly authorised and regulated by the Financial Conduct Authority, Registration number 456327.
The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
All finance is subject to status and income. Applicants must be 18 or over. Terms and conditions apply. Guarantees and indemnities may be required.
Whichdeal Limited trading as Creditplus. Registered in England | Registered number 04997789 | VAT number 851687202 | ICO registration number Z8890305 | Registered Office: 52 Willis Way, Poole, BH15 3SY.

Copyright © 2021 Creditplus. All rights reserved.

Copyright © 2021 Creditplus. All rights reserved.

Creditplus is a credit broker and not a lender. For our introduction to our panel of Finance Providers, we may receive a commission and/or fee.
Creditplus is a trading name of Whichdeal Limited, which is directly authorised and regulated by the Financial Conduct Authority, Registration number 456327.
The guidance provided within this website is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.
All finance is subject to status and income. Applicants must be 18 or over. Terms and conditions apply. Guarantees and indemnities may be required.
Whichdeal Limited trading as Creditplus. Registered in England | Registered number 04997789 | VAT number 851687202 | ICO registration number Z8890305 | Registered Office: 52 Willis Way, Poole, BH15 3SY.