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Car Finance for 18 Year Olds

Financing a car at 18

  • Competitive PCP & Hire Purchase quotes from an extensive panel of lenders
  • Get the best available rates on cars from £15,000 – £250,000
  • Use a Trustpilot 5-Star rated team with expert knowledge
  • Rates start from 8.9% APR with a representative APR of 8.9%*

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Car Finance for 18 Year Olds

Get cheap car finance for 18 year olds by comparing quotes from a wide range of UK providers

When you’re 18, car finance deals can be hard to come by. With Quotezone.co.uk, you can compare a range of offers from our panel of UK lenders. Our easy-to-use form will help take the stress out of shopping around for your first set of wheels, as you’ll be able to compare deals in a matter of minutes. Find out more about financing your car when you’re 18 below.


Can I get finance on a car at 18?

If you’re an 18-year-old with good credit, you can get a car loan as long as you’ve done enough to be considered a “low-risk” applicant. While “good credit” can mean different things to different lenders, a score of 720 or higher is generally considered excellent. If your score is lower than that, you may still be able to get a loan, but you’ll likely have to pay a higher interest rate.


Can I get finance on a car at 18 with no guarantor?

Although it is possible to get 18 year old car finance without a guarantor, some lenders may be hesitant due to your limited credit history. You are more likely to be approved if you can show stability and have enough income coming in regularly to cover the payments.


Can I finance a car as a student?

You can still get a car loan as long as you have some credit history, reliable income, and in some cases, a guarantor or co-applicant if you’re currently enrolled in school.


Can first-time drivers get a car on finance?

Unfortunately, 17-year-olds may face a few roadblocks when trying to finance a car. Most lenders don’t consider lending money to anyone under 18 for various reasons. If you’re 17 and want to finance a car, you’re much more likely to get a car by saving up or through the kindness of others, such as receiving it as a gift or loan from a parent.


Can I finance a car for my son or daughter?

Some lenders enable parents to help finance a car for their child, but the car must typically be registered under the borrower’s name. The parent may also need to be included as the principal driver for the vehicle.


How can I get a car loan at 18?

There are a few things you can do to increase your chances of getting approved for a car loan fast at 18.

  • Build up your credit score by using credit cards responsibly, paying your bills on time, and getting on the electoral roll.
  • Get a co-signer or guarantor with good credit who is willing to sign on the loan with you.
  • Have a down payment saved up to show that you’re serious about the purchase.
  • Use Quotezone.co.uk to find a lender that specialises in loans for young adults or first-time buyers.

*Representative Example – Personal Contract Purchase: Cash Price £15,000.00, Deposit £500.00, borrowing £14,500.00 over 4 years at 8.9% Representative APR (fixed). 47 monthly payments of £228.99 followed by a final payment of £7,560.00. Total cost of credit of £3,832.53 and total amount payable of £18,832.53. Based on 8,000 miles per annum, excess mileage charges will apply if this is exceeded. Finance subject to status 18+ only. We are a credit broker and not a lender. Magnitude Finance is a trading style of DSG Financial Services Ltd. DSG Financial Services Ltd is a company registered in England & Wales with a company number 02313903. Our VAT registration number is 511678843. DSG Financial Services Ltd is authorised and regulated by the Financial Conduct Authority under firm reference number 649675

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