Looking for affordable car finance but unsure whether your income alone will cover the repayments?
Before we make our final lending decision, you can have the option to add a joint applicant so two people share the loan and its repayments — a simple way which may boost overall affordability and keep monthly costs manageable.
This guide explains how joint car finance works and why your credit files become linked.
Step 1: Calculate your monthly repayments
Step 2: Apply and track your application online, in real time (No login or app needed!)
Representative example – Total amount of credit £10,000, annual interest rate 18.25% (fixed), charge for credit £9,430 (£9,125 interest, £295 admin fee and £10 option to purchase fee), total amount payable £19,430. Loan term of 60 monthly instalments, 59 payments of £323.67 and 1 final instalment of £333.47. 36.1% Representative APR – Subject to status and affordability
When you take out joint car finance, both borrowers sign the same hire-purchase contract and agree to repay every instalment.
This is called “joint and several liability”, which means either borrower can be asked to pay 100 % of the instalments if the other stops paying.
After the balance is cleared, both names go on the V5C logbook, so you co-own the car.
Every payment (on time or late) appears on both credit reports.
Credit reference agencies create a “financial association” between you and the other borrower.
Future lenders will see the other person’s history until the loan is fully repaid and you request a disassociation.
This link can work in your favour if your co-borrower has stronger credit, but it can harm you if their score falls during the agreement.
Many drivers turn to a joint application after a single‑name application fails. If you have already been declined, visit our Refused Car Finance page for tips.
Adding a partner or family member with steady income could turn a “no” into a “yes”.
Go Car Credit specialises in helping people with bad credit to get car finance.
We consider low scores, CCJs, defaults, IVAs and even discharged bankruptcy.
A stronger co-borrower’s income and payment record can lift the combined profile and improve the offer.
You can also choose a £0 deposit option to keep your savings for insurance or running costs.
All joint applicants must:
Until the finance is fully repaid, the legal owner of the vehicle is the finance company. You (and anyone else involved) only have the right to use the car under the terms of the agreement. “Registered keeper” on the V5C logbook is not the same as legal ownership.
In short: Regardless of whether you’re a joint borrower, a guarantor, or just a named driver on the insurance, the finance company remains the legal owner until the finance is paid off in full.
You can settle your joint loan early at any time. We’ll provide a settlement figure that includes any interest saved. If the car’s value drops below the outstanding balance (negative equity), both borrowers remain responsible for paying the difference.
Does adding a joint applicant always help?
Usually, yes it could – but if their credit is weaker, it could lower the combined score. We show both outcomes before any hard search.
Can parents and adult children apply together?
Yes, as long as you live at the same address and everyone understands that the responsibility is shared equally.
Will a no-deposit loan cost more?
Monthly payments could be a little higher without a deposit, but the APR stays the same and you keep your cash for insurance and running costs.
What happens if we separate?
You must settle the loan or refinance into one name before either party can walk away. The car cannot be split.
Can benefits income replace employment income?
Yes. Regular benefits such as Universal Credit, PIP or Carer’s Allowance can count towards affordability.
Apply now in your own name. Once you pass our soft credit check, you can add a joint applicant before we give the final yes.
