Getting A Car on Finance for the First Time - A Guide for Young Drivers

Have you just passed your driving test? Are you buying a car for the first time? Getting a car on finance can present a huge financial challenge for many people, proving to be quite a daunting experience. However, at Get Car Finance Here we can help the best cars for new drivers. Whether you are a 17-year-old driver who has recently passed their test and are looking to purchase your first car, or a more mature adult professional looking to improve their mobility, our cheap car finance deal providers can help you get your first car on finance, hassle free.

Young Driver Car Finance Advantages

There are a number of advantages of purchasing your car on finance. First of all, you do not need to pay a huge lump sum of money and, instead, can pay for your car in manageable monthly instalments. This can be particularly useful for first-time car buyers who will most likely be paying premium insurance and are not yet accustomed to the financial expectations involved with owning a car.

Should I Buy Or Finance My First Car?

In addition, getting a car on finance from Get Car Finance Here means that you could get a vehicle that exceeds the expectations that you initially had for your first car. Ultimately, you can get a car that is higher in value because you do not need to pay a lump sum. Furthermore, we also have a range of second hand cars available on finance, if you would like a more budget option for your first car.

Which car is best for a first-time driver?

Small, efficient hatchbacks are usually the best route to go down when choosing your first car. This is because not only will your car be cheaper to run, but the cost of your insurance will also be relatively low when compared to other vehicles.

At GCFH we can help you secure car finance for a wide range of models that are ideal for first time drivers, such as the Volkswagen up!, the Skoda Citigo, the Ford Fiesta and the Kia Picanto.

How Can I Finance A Car At 17?

At 17 the idea of your very first car is exciting, but often young people can fall short when it comes to the cost of a car. At Get Finance Here, you don’t need to worry about that with our first-time car finance packages tailored to you, no matter whether this is your first car or your fifth! We have over three hundred different loan products that you can chose from.

Using A Cosigner Guarantor Lets Young Drivers Buy Their First Car 

If you don’t have any past credit history, such as a mobile phone contract, this can affect your ability to get car finance. However, if you have a guarantor to vouch for you in many cases we will still be able to help you finance your dream car. You don’t need to worry about being eligible: we provide finance based on your current financial situation, not your credit history. There are also great car deals we can provide where you can have a guarantor co-sign, giving you the security you need for your first car.  

Can A Student Purchase A Car On Finance?

You don’t have to break the bank leasing a car from us, as we understand that student life is accompanied with the new experience of juggling your money. However, for many students a car is a necessity for travelling to and from campus, as well as making journeys back home. You don’t have to compromise on choosing your car with brand new models available and using our online calculator you can work out the best car finance option for you, to get you driving your brand-new car in no time.

8 Tips For Students & Young Professionals Looking To Finance Their First Car

Here's a quick run down of the best bits of advice for students which will help you get the best auto finance package possible:

Use A Guarantor To Cosign

If you don’t have any past credit history, such as a mobile phone contract, this can affect your ability to get car finance. However, if you have a guarantor to vouch for you, in many cases Get Car Finance Here will still be able to help you finance your dream car.

Build A Good Credit Rating & Refinance With GCFH

By getting your car on finance, you will build up your credit score thanks to the regular out payments that you will incur. On top of this, with Get Car finance Here you can refinance your car using terms that are specific to your current financial circumstances further down the line!

Develop A Stable, Regular Income

A bad credit rating (anything below Fair) may impact your ability to get car finance at 18, however we work with lenders that specialise in bad credit car finance. As soon as your income is steady, you can easily build your credit from poor to great.

Get Black Box Car Insurance & Pay Annually

Getting black box car insurance has become a massively popular option for many young drivers who are looking to get their first car. The ‘black box’ device monitors numerous aspects of your driving performance, such as speed, distance travelled, breaking and more. Implementing a black box can reduce the price of your insurance, which subsequently means that the prospect of getting your ideal car on finance will become much easier. 

Often overlooked, buying a car without first checking the cost of insuring could cause financial difficulties. As of 2018, annual premiums for 18-20 year old drivers have risen to an average of £973 - costing just as much as paying off the motor over the year! Checking insurance quotes to help you choose the right model can result in huge savings. Help drive quotes down by taking advantage of the leading comparison sites, adding named drivers and reducing annual mileage when filling in details. Another tip for wrangling lowest young driver car insurance is to pay it annually as opposed to monthly - in fact you can save up to 20%.

If you want a complete list of all the tips and tricks to help you negotiate lowest interest rates, check out our helpful low rate car finance guide. 

Save For A Deposit

A lack of deposit may unfortunately affect your ability to get car finance but our partnership with a wide variety of lenders will give you the best possible chance of getting a finance deal. Any deposit you can put down improves your chances of being approved for car finance at 18.

Be Flexible On What Model You Want

When selecting a car as a first time driver, it is easy to be spoilt for choice. There are thousands of vehicles out there for you to choose from, but it is important to be realistic. You have your whole driving life ahead of you! At Get Car Finance Here we have a wide selection of cars that are ideal for young drivers, and finance packages that can be tailored specifically to your budget. 

Consider A Depreciated Used Motor

If you apply for a car loan that hugely exceeds your income or payments you may be refused and jeopardise your ability to get car finance in the future. Use our car finance calculator to work out your weekly or monthly payments in accordance with the amount you borrow.

Choose The Best Deal

Finding an affordable deal couldn't be easier with GetCarFinanceHere, we've just updated our stock with 2018 in mind, so whether you are considering a brand new A3 or a modest runner, pick your favourite from the best new and used car deals available online.

Car finance Options for young drivers

At Get Car Finance Here, we thrive on providing the best possible car leasing options for people who are purchasing their first car. We have a massive range of car brands available, and will help you find your perfect first car. 

Young Drivers With Bad Credit - But Don't Worry!

Are you looking to purchase your first car but are worried about having a poor credit rating? Don’t worry! Get Car Finance Here are confident that we can offer affordable car finance solutions to clients with bad credit, with payment plans tailored to suit your exact circumstances, no matter what your credit history. Whether its a poor credit rating, or your first time taking out a loan or finance, find out how our expert brokers could provide guaranteed car finance to suit your budget.

Apply For Your First Car Finance Package Online

If you are interested in buying your first car with Get Car Finance Here, or want any more information about our affordable car finance packages, simply get in touch with our friendly team. Give us a call direct on 0800 042 0204  or  01282 544532,

Leave your details on our contact us page and await a quick reply.