Being a student or young driver does not mean car finance is out of reach. Check what you could be eligible for in minutes.
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Students and young drivers considered
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Representative 19.8% APR. No impact on your credit score. Our partner uses a soft search to give you a quote. If you proceed, a hard search will be conducted which may impact your credit score. ?We're partnered with Car Finance 24/7. As an Introducer Appointed Representative of Carfinance247 Limited (FCA FRN: 653019), we receive a commission if you purchase finance products through the link above. We do not provide advice or make recommendations.
*A soft search has no impact on your credit score. If you choose to proceed with a full application, a hard search will be carried out which may impact your credit score.
Yes, it may be possible. Being a student does not disqualify you from getting car finance. What lenders care about is whether you can afford the monthly repayments, not whether you are in full-time education.
If you have a part-time job, a regular income from work, or other reliable sources of income, some lenders may consider your application. The key is demonstrating that you have enough coming in each month to comfortably cover the repayments alongside your other living costs.
Using a broker means your application can be matched against a panel of lenders, including some who are more flexible about the types of income they accept. This is generally better than applying directly to individual lenders, as it avoids multiple hard searches on your credit file.
International students may face additional requirements, as some lenders require a UK address history or proof of residency. If you are studying in the UK on a visa, it is worth checking with a broker to see which lenders may consider your circumstances.
All applications are subject to status and affordability.
Yes, you can apply for car finance from the age of 18. There is no minimum age above 18 for most car finance products. However, being young often means you have a limited credit history, which can make it harder to get approved or may affect the rates you are offered.
Having little or no credit history is different from having bad credit. It simply means lenders have less information to assess your risk. Some lenders are comfortable with this, particularly if you can show a stable income and keep your borrowing amount realistic.
If you have never had any form of credit before, it can help to build a small credit history first. A basic credit card used for small purchases and paid off in full each month is one way to start, though this takes time and is not essential.
Different lenders accept different types of income. There is no universal rule. Income from part-time or full-time employment is the most straightforward for lenders to assess, but it is not the only option.
Student maintenance loans are generally not accepted as income by most car finance lenders, because they are a form of debt rather than earnings. However, policies vary and some lenders may take a different view. It is worth checking rather than assuming.
If you have a bursary, scholarship, regular parental support, or income from self-employment, some lenders may consider these. The more stable and regular the income, the more likely it is to be accepted.
If your own income is limited, having a guarantor could significantly strengthen your application. A parent or family member with a good credit history agrees to cover the repayments if you cannot, which gives the lender additional security.
When your income is lower, keeping the amount you borrow as small as possible is usually the smartest approach. A less expensive car means lower monthly payments and less interest paid over the term.
It is also worth thinking about the total cost of running the car, not just the monthly finance payment. Insurance is typically much more expensive for younger and less experienced drivers. Road tax, fuel, MOT, and maintenance all add up too.
Our cost of running a car guide can help you work out a realistic total. If you are a young driver, our young drivers car insurance page may help you find a more affordable insurance quote.
If this is your first time applying for any kind of credit, here are a few things that could help.
Make sure you are registered on the electoral roll at your current address. This is one of the simplest things you can do to improve your chances, as it helps lenders verify your identity and address.
Keep the borrowing amount realistic. Asking for a smaller amount that is clearly affordable on your income is better than stretching to the maximum. Lenders are more likely to approve an application that looks comfortable within your budget.
Avoid applying to multiple lenders directly. Each full application triggers a hard search on your credit file, and too many in a short period can make you look risky. A soft search through a broker lets you check your eligibility without any of that risk.
If you have bad credit or are receiving benefits, our dedicated pages have more specific guidance for those situations.
Wondering how much car finance you can get on your salary? Use our calculator to estimate monthly payments based on the car price, your credit grade and preferred term length.
Check your eligibility for both HP and PCP deals in minutes (Representative 19.8% APR) - with no impact on your credit score. Our partner uses a soft search to give you a quote. If you proceed, a hard search will be conducted which may impact your credit score.
Check Your EligibilityNot the right fit? Check out the other car finance options we cover.
If you are already paying for a car on finance, make sure you are not overpaying on your car insurance too. Comparing quotes from multiple insurers is the easiest way to check you are getting a competitive deal.
Thinking of selling your car? Get a free valuation via our partnership with Motorway.
Common questions about car finance for students & young drivers.
It may be possible, depending on how much you earn and the amount you want to borrow. Lenders look at whether you can afford the monthly repayments from your income. A soft search lets you check what you could be eligible for without any impact on your credit file. Subject to status and affordability.
Yes. You can apply for car finance from the age of 18. Being young is not a barrier in itself, though having a limited credit history may affect the rates you are offered. Some lenders are comfortable with applicants who have little credit history, particularly if the borrowing amount is realistic.
Most car finance lenders do not accept student maintenance loans as income, because they are a form of borrowing rather than earnings. However, policies vary between lenders. If you have other income alongside your maintenance loan, such as from part-time work, that is more likely to be accepted.
Yes, having a parent or family member as a guarantor could significantly improve your chances of being approved. A guarantor agrees to cover the repayments if you are unable to, which gives the lender additional security. Your guarantor would need to have a good credit history themselves.
Keeping the amount you borrow low is the most effective way to keep costs down. A less expensive, reliable car will cost less in monthly payments and interest. Also consider the full running costs including insurance, fuel, and maintenance. Insurance is often the biggest additional cost for younger drivers.
Having no credit history is different from having bad credit. It means lenders have less information to work with, which can make some more cautious. However, some lenders are comfortable with thin credit files, especially if you can show stable income and keep the borrowing amount reasonable.
A deposit is not required on many agreements. However, putting even a small deposit down could reduce your monthly payments and may improve the terms you are offered. If saving a deposit is difficult, no-deposit options are still available, subject to status.
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