How do I know if I can afford the car I want on finance?
Finance Guides March 18, 2025 Understanding your budget and the total cost of financing is essential to making a responsible decision. We explain more here...
Roadwise Finance
FAQ
Answers to common car finance questions.
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Am I eligible for car finance if I have a CCJ?
Credit Advice March 18, 2025 Yes, you can still be eligible for car finance if you have a CCJ, but your options may be more limited.
Is a credit check mandatory for car finance?
Credit Advice March 18, 2025 Yes, a credit check is typically mandatory for car finance in the UK. Lenders use credit checks to assess your financial history and determine your ability to repay the loan.
Can I get car finance if I have been declared bankrupt?
Credit Advice March 18, 2025 There are specialist car finance lenders who cater to people with poor credit histories, including those who have been declared bankrupt.
Do I need a UK driving licence to qualify for car finance?
Credit Advice March 18, 2025 Most lenders require you to have a valid UK driving licence to qualify for car finance but at Roadwise Finance we also have options for those with European or International licences.
What are the basic eligibility criteria for car finance in the UK?
Credit Advice March 18, 2025 Most lenders will consider someone eligible if they're over 18 years old, a UK resident with 3 years address history and 12 months employment history. They must usually hold a full UK driving licence.
Do I need to be employed to get car finance?
Credit Advice March 18, 2025 Being employed is not an absolute requirement to obtain car finance in the UK, but having a regular source of income is essential.
Is car finance available for students in the UK?
Credit Advice March 18, 2025 Car finance is available to students in the UK, but it can be more challenging to secure due to limited or irregular income.
What is car finance income verification?
March 18, 2025 Some car finance lenders may require proof of income in the form of payslips or bank statements in order to verify your income.
Can I apply for car finance jointly with another person?
Credit Advice March 18, 2025 Joint applications can be beneficial, especially if one applicant has a weaker credit profile or lower income. By combining financial profiles, you may increase your chances of approval.