Car Finance

lori84

Hi

Im just wondering if anyone has heard of this before...My husband tried to buy a car from Arnold Clark for us and because he does not have a full driving licence they said it would be hard for him to get credit because there is only a couple of companies who accept this. Also we paid off a car last year and never missed a payment so it proves we can afford to. We know his credit history is fine as he has never been refused credit in the past.

fivetide

Sounds like Arnold Shark's rule more than anyone elses. I can see the idea that you'll be more likely to damage goods you haven't paid for but I am guessing you'll be the main driver?

Can you not apply as a couple? Also, have you considered speaking to your bank? They might be more than happy to sort a loan out for you.

5t.

forgotmyname

Is it just proof of identity? Can he not use anything else instead?

Use the same company you got credit from last time?

jwruk

1 - Don't purchase from Arnold Clark as they're obviously unhelpful from what you've posted.

2 - Consider a loan rather than finance as you might be able to get a better rate.

10JH

Can you not buy it for him instead? Didn't realise you had to own a driving liscence to buy a car!

Flyboy152

fivetide wrote: »

Sounds like Arnold Shark's rule more than anyone elses. I can see the idea that you'll be more likely to damage goods you haven't paid for but I am guessing you'll be the main driver?

Can you not apply as a couple? Also, have you considered speaking to your bank? They might be more than happy to sort a loan out for you.

5t.

The dealers do not make the rules, the finance companies do. There are no finance companies, that I am aware of, who do "joint" hire purchase agreements.

Flyboy152

forgotmyname wrote: »

Is it just proof of identity? Can he not use anything else instead?

Use the same company you got credit from last time?

Unlikely. It is more probable that the finance companies don't like funding cars for people who may not be the driver, or owner, of the car.

Flyboy152

jwruk wrote: »

1 - Don't purchase from Arnold Clark as they're obviously unhelpful from what you've posted.

This is nothing to do with them being "unhelpful." They are just following the rules laid down by the finance company.

2 - Consider a loan rather than finance as you might be able to get a better rate.

Not always the wisest move. Hire purchase comes with a number of protections and termination advantages that a personal loan doesn't.

Flyboy152

10JH wrote: »

Can you not buy it for him instead? Didn't realise you had to own a driving liscence to buy a car!

There are not many finance companies who will fund a car in one person's name and be owned, kept or mainly driven by someone else.

You don't have to "own" a driving licence to buy a car. It just makes it easier to get finance on one.

Kilty_2

Arnold Clark insisted I show them both parts of my driving licence as proof of ID and no other alternative was possible (if you had a paper driving licence you needed another piece of ID along with it)

That was finance via Kia Finance / Santander and not AC's own so I assume it's a rule imposed by them.

Flyboy152

Kilty wrote: »

Arnold Clark insisted I show them both parts of my driving licence as proof of ID and no other alternative was possible (if you had a paper driving licence you needed another piece of ID along with it)

That was finance via Kia Finance / Santander and not AC's own so I assume it's a rule imposed by them.

Arnold Clark do not lend money; they have finance companies available who do. It would be the finance companies' rules that insist on the criteria for lending the money.