Am I eligible for a car loan?
Get your free quote now

To be eligible for a car loan, you must be at least 18 and have lived in the UK for 3+ years.

Get approved now
Approval in 2 mins

Our Trusted partners

Our partner lenders

Transunion Bank Logo
Paragon Bank Logo
Advantage Finance Limited Logo
PCF Bank Logo
RateSetter Logo
Moneybarn Logо

Am I eligible for car finance?

At CarFinance Plan, 85% of customers who apply for finance are accepted by the finance company. If you’re over 18 and know that you can afford monthly repayments, there is a great chance that your application will be accepted.

Who can apply for car finance?

All lenders have different criteria, but in most cases, if you are between the ages of 18 and 75, you can apply for a car loan. Getting a quote right here and checking your eligibility will reduce the chances of your application being refused – and that is something that makes sense in terms of keeping such refusals off of your credit history records.

Do I have to have a full UK driving licence to apply for a car loan?

You need a full UK licence if you intend to drive the car on your own, however you do not need one to apply for a car loan.

Do I need to be working to be eligible for car finance?

You may be successful in applying for car finance if you are a student, self-employed, in salaried employment, in a regular part-time occupation or if you are retired. In all such cases, you will need to provide some evidence of reliable regular income through earnings or pensions etc. It can be more difficult to find finance in situations where you are unemployed or have highly unpredictable income.

I do not have a British passport, can I apply for car finance?

Customers of any nationality can apply for a car loan or car finance if they have a credit history in the UK.

What proof of identity will I need to apply for car finance?

Normally you will be required to prove that you are who you say you are. That may involve the forms of identification such as a passport, driving licence or similar form of irrefutable evidence.

I’ve got bad credit, can I apply?

Potential lenders will expect you to give them enough information so that they can check your financial behaviours over recent years. Contrary to some myths, you will not require a perfect credit score to secure a loan under normal circumstances.

Of course, if you have a very problematic credit history including things such as loan defaults and CCJs, it can be more difficult to find financing and any lender will reserve the right to decline your application if your history is particularly poor.

We, however, do work with a number of specialist lenders who may be able to provide bad credit car finance.

If I get car finance, how much can I afford?

You will need to check your finances and other household expenses to make sure you can afford the monthly payments for your new car. The finance company will also check how much they believe you can afford to pay monthly when deciding on how much to lend. Once you have figured out what repayments you can afford, you can search for cars within your budget. If you’re stuck for working out what you can and can’t afford monthly, take a look at our handy finance calculator.

Rated 'Excellent' on Trustpilot

Get your free quote

Free, no obligation quote. Any credit score. No deposit. Buy from any reputable dealer. Rates from 5.9% APR‎. Same day payout.

Apply now