Students and young drivers may be able to get car finance if they meet the lender’s criteria.
At Go Car Credit, you must be aged between 21 and 70, have a full driving licence and have a total monthly income of at least £1,500. We also look at your credit history and whether the repayments are affordable.
We are a direct lender and offer Hire Purchase car finance.
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 £10,500, annual interest rate 18.25% (fixed), charge for credit £9,886.25 (£9,581.25 interest, £295 admin fee and £10 option to purchase fee), total amount payable £20,386.25. Loan term of 60 monthly instalments, 59 payments of £339.60 and 1 final instalment of £349.60. 34.5% Representative APR – Subject to status and affordability.
Yes, students can apply for car finance. Being a student does not stop you from applying.
You will still need to meet the lender’s normal checks. These can include your age, income, credit history and whether you can afford the repayments.
Go Car Credit considers student applications under the same lending criteria as other applications.
Our main rules are simple.
Our car finance eligibility checker can help you check whether you meet our main criteria before you apply.
Your income does not always have to come from a full-time job.
An NHS bursary could count as income. Some benefits may also count. In some cases, certain benefits may be used with earned income or other eligible benefits.
If you receive benefits, some types of income may be considered when you apply for car finance on benefits. The income we can accept will depend on your circumstances.
You may have little or no credit history if you are young or have not used much credit before.
This does not always mean you have bad credit. It can simply mean there is less information for a lender to review.
Go Car Credit looks at your credit profile as well as your income and affordability. Each application is considered on its own.
We also consider applications for car finance with bad credit, subject to our lending and affordability checks.
Some lenders may offer car finance to people aged 18 or over. Each lender sets its own age and lending criteria.
Go Car Credit has a minimum applicant age of 21. This means we cannot offer car finance to someone who is 18, 19 or 20.
Younger applicants may also have a shorter credit history. This can make it harder for a lender to see how they have managed credit in the past.
Car finance lenders normally need to check your credit history before they can make a lending decision.
Go Car Credit starts with a soft credit search. This does not affect your credit score.
A soft search is not the same as car finance with no credit check. Further credit checks may be needed before finance is provided.
If you are young or a student, you may have less credit history. Your income may also change from month to month.
This can affect a lender’s decision. The lender will also check that you can afford the monthly payments.
When we check car finance affordability, we look at your income and regular credit payments.
Go Car Credit offers Hire Purchase car finance.
With Hire Purchase, you make fixed monthly payments over an agreed term. The finance is secured against the vehicle until the agreement ends.
Once you have made all payments due under the agreement, including any final fee, you will own the vehicle.
The monthly finance payment is only one part of the cost of running a car.
You may also need to budget for:
Insurance can be expensive for younger drivers. The price can depend on factors such as your age, driving history, postcode and the car you choose.
A stronger credit history can help lenders see how you manage money.
You can:
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Go Car Credit is a direct lender. We offer Hire Purchase car finance.
We look at your credit record, income and affordability when you apply.
We will only offer finance if you meet our checks and can afford the payments.
We are regulated by the Financial Conduct Authority.
You can apply for car finance online if you meet our eligibility criteria.
We will ask for some personal, income and employment details. We will then use a soft credit search as part of our first checks.
If your application meets our criteria, we will explain the next steps and the information we need from you.
