Can I Get Car Finance If I Don't Yet Have My Licence?

If you’re thinking of applying for car finance but you don’t yet have a driving licence, you may find it harder to get accepted.

However, that doesn’t necessarily mean you won’t be able to get the cover you need 😊

Whether you’re planning ahead or you want to learn to drive in your own car, it may be possible to secure a car loan.

Here, we’ll reveal whether you can get car finance without a driving licence, and how to prepare for the application 👍

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Can you get car finance without a driving licence?

Securing car finance loans without a driving licence is possible, but it can be more challenging.

While a driving licence is often used as a form of identification in the finance application process, it's not always a mandatory requirement.

Lenders typically focus more on your ability to repay the loan, which includes factors like your credit score, employment status, and income.

If you can provide alternative forms of identification and meet the lender’s other criteria, obtaining car finance without a licence may be achievable.

However, it’s important to note that not having a driving licence may limit your options. You’ll need to explore different lenders who are more flexible with their requirements.

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How to prepare for your car finance application

When you're getting ready to apply for car finance without a licence, there are things you can do to increase your chances of acceptance.

Here’s some of the things that could get you accepted for the finance you need:

Check your credit score

Your credit score influences the terms and cost of the finance you can secure. A higher credit score typically leads to better interest rates and terms.

Before applying, it’s worth checking your credit report for any errors and taking steps to improve your score if needed.

Gather necessary documentation

Having all the necessary documentation ready can help speed up your application. You’ll need proof of income, employment details, identification documents, and proof of address.

Make sure all your documents are up-to-date and accurately reflect your current situation.

Determine your budget

Decide on a realistic budget for the car you want to buy, considering both the upfront costs and ongoing expenses like maintenance and fuel.

You can also use useful car finance budget calculators before applying for finance, to determine how much it will cost each month.

Consider a co-signer

If you’re concerned about your eligibility for finance, especially without a driving licence, consider applying with a co-signer.

A co-signer with a good credit history and stable income can increase your chances of approval and potentially secure better terms.

Do I need a driver’s licence to apply with Carmoola?

At Carmoola, we make it easy to get the car finance you need. While we don’t need you to fill in paperwork or call us, we do need your full driver’s licence number as a key part of our application process.

After downloading the app, you’ll be prompted to enter the licence number for verification. If you don’t have one, unfortunately you’ll be unable to complete the application.

If you can wait until after you have your licence, then by applying with the Carmoola app you can benefit from low, competitive interest rates, and some of the most competitive hire purchase plans on the market.

We’re revolutionising how car finance works in the UK, making it easier and faster than ever before to get behind the wheel of your dream car 😍🚗

FAQs About Applying For Car Finance

Can I secure car finance without a full driving licence?

Yes, you can secure car finance without a full licence, but options may be limited.

Is it possible to buy a car without a licence or with a provisional licence?

Yes, you can buy a car without a full license or with a provisional, but financing could be trickier.

What are my options for car finance if I only have a provisional licence?

With a provisional licence, you may face higher interest rates or need a guarantor for finance.

What happens after I've secured car finance without a driving licence?

After securing finance without a full licence, you'll proceed as normal but may face driving restrictions until you get a full licence.