Car Finance for young drivers

Once approved for finance, you’re free to choose a vehicle from any reputable UK dealership. This gives you plenty of choice and allows the freedom to find yourself the perfect vehicle.


Get your finance first with Young Car Driver in partnership with CarFinance247

Getting your finance in place – before contacting the dealer – can put you in a stronger position when you come to negotiate the purchase.

It also helps you avoid getting carried away in the heat of the moment at the dealership and ending up with a complicated finance deal that may not be right for you.

Get your car finance the easy way

Young Car Driver increases your chance of finding a great car finance deal by searching the market for you.

At what age can you get car finance?

You can get a car finance deal from 18, although it won’t necessarily be only in your name. Once you hit 21, it becomes significantly easier to be offered finance!

18yearsold v2

Car finance for a 17 year old

Sadly, getting car finance in your own name isn’t possible as a 17-year-old. This is because you’re not legally allowed to sign a credit agreement until you’re 18! You can drive a car, but you can’t finance one – go figure!

However, this doesn’t mean it’s impossible to get a car at 17, but you may need to lower your expectations. If you’re desperate to get yourself in a vehicle as soon as you pass, consider buying a used car with cash, either from your savings or from the good old bank of Mum and Dad!

Car finance for 18-year olds

You’re 18! Not only can you now have a guilt-free drink at the pub, but you can also be accepted for car finance. Be aware though, just because you’re 18 doesn’t guarantee that you will get accepted for finance.

To increase your chances, you need to have a solid credit rating. You can build this up by paying for your own mobile phone on a contract, taking out a credit card and clearing it every month. It’s also worth making sure you’re on the electoral roll.

Having no credit history is almost as bad as having a terrible one, so start building it ASAP and increase your chances of getting a good car finance deals.

You also have a better chance of getting a finance deal if you have been employed for a considerable amount of time, around 6-12 months. Having a job reassures the Lender that you can pay for the car and that you have a secure job.

If the Lender still isn’t convinced, all hope isn’t lost – it’s common for lenders to offer a joint application, where you take out the car in both your name and that of a parent/guardian name. Also, you can take out a Guarantor Car Finance agreement, where someone will act as the back-up if you can’t make the repayments.

credit score

Car finance for 19 year olds & 20 year olds

Car finance becomes a little bit easier to get accepted for once you get past 18. However, your credit history is still significant. If you’re 18 or 20 with a bad/non-existent credit history, you will struggle to get a deal without a guarantor.

However, if you’ve made an effort to build a credit rating, and have a stable job that provides a regular income, you could have a good chance of getting accepted for finance.

Car finance for 21 year olds and over

Once you hit 21, you’re far more likely to get car finance. At this age, you can apply for various types of finance, including a traditional Hire Purchase (HP) deal, where you pay the car over a certain amount of time. You can also apply for a Personal Contract Purchase (PCP), where you pay a smaller fee monthly but hand the car back at the end.

At 21, you’re more likely to be offered finance even with a poor credit rating. However, you will pay a fortune in interest, and it’s often not worth it -you should still focus on building a solid credit history to be offered the best rates.

interest rate

Keep in touch

Sign up to our newsletter to hear about our latest deals and offers

Sign Up
Sign up to Newsletter *