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Do I need a full driving licence for car finance?

While it can be easier to secure a car finance agreement if you have a full UK driving licence, it is possible to get a loan if you have a provisional licence, an EU driving licence, or no licence at all. However, many lenders will ask you to upload a copy of your driving licence to serve as proof of identity.

Is it easier to get car finance with a full driving licence?

One of the requirements many lenders have when assessing your car finance eligibility is whether you have a full UK driving licence. Not only does it reassure them that you’ll likely be the car’s main driver (and you’re not trying to get finance on behalf of someone else), but it can also serve as proof of identity.

Before you apply, make sure your driving licence is in date and the portrait photograph still looks like you. It should also have the same address as your current home. In some cases, if you’ve changed your hair dramatically or altered your physical appearance in another way, the lender might ask you to send a photo of you holding your driving licence for additional verification.

If you’ve lost your licence or can’t provide a copy for any other reason, the lender may be happy to accept a copy of your passport as proof of ID. However, they will also need to request a DVLA mandate to confirm you have a valid driving licence.

Can I get car finance without a driving licence?

If you’ve not yet passed your test or want to buy a car to learn to drive in, you might be looking for a car loan without a driving licence.

While it’s not impossible, it can be more challenging to get approved for a loan as many lenders require borrowers to have a full UK driving licence in place. Others may only approve your application if you agree to pay a higher rate of interest to offset the additional risk.

 

H2: Can I get car finance with a provisional licence?

 

Still learning? Unfortunately, most lenders won’t accept car finance with a provisional driving licence. You still may be able to qualify for a loan, but it can be harder to find a lender willing to approve your application and offer a low APR.

 

 

Related FAQs

If I finance a car, can someone else be the registered keeper?

Most lenders won’t let you finance a car if someone else is going to be the registered keeper. That’s because car loans are tailored to an individual and based on their personal financial circumstances. If you try to take out a loan for someone else and don’t tell the lender, you could be guilty of fronting, which is a type of fraud.

Can I buy a car on finance for someone else?

It’s not usually possible to buy a car on finance for someone else. In fact, most lenders will ask that the person who signs on the dotted line is also your new wheels registered keeper and main driver. Every car finance agreement is tailored to an individual and suited to your personal circumstances.

Am I Eligible for Car Finance

Your car finance eligibility will depend on the lender that you apply with. Each lender has different eligibility criteria that they consider.

However, you must be over 18 years old and have been a UK resident for at least three years to qualify for a loan.

What Documents Do You Need for Car Finance

When you apply for car finance, the lender will ask you to supply documentation to verify who you are, where you live, and how much you earn. Paperwork needed can include bank statements, payslips, utility bills, and a copy of your passport or driving licence. They use this information to protect you from potential identity theft and confirm that the loan they’re offering is right for you.

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