Car Finance

halkineso

Hello, is it possible to get a loan or car finance if you're uk resident only for 2 years?

bengalknights

Its usually difficult but not impossible your current bank is the best bet to provide

SeanG79

Do you have any other form of credit in the UK, credit card or bank loan?

Are you from an EU country? Most vehicle finance companies want to see 3 years UK address history with other active credit, but do look on EU residency more favourably in my experience.

halkineso

Yes i'm from EU. I have o2 contract, credit card, everything is paid on time in full. Everything is okay except i'm resident only for 2 years. Actually i'm looking for small amount finance, just for 3000-5000 quid. I earned last tax year 30k, this year 34k.

halkineso

By the way LLoydsbank no longer asking for 3 years uk resident status?

Because I was looking at personal loan calculator and there is eligibility requirements:

To apply for a Flexible Loan, you need to be:

a Lloyds Bank Current Account holder who has had an account for at least three months (okey)
over 18 years of age (okey)
a UK resident (okey)

SeanG79

I would think that Lloyds will still look for minimum 3 years, but you can call them and enquire?

With a credit card, and no adverse credit, I would expect a car finance lender would assist with Hire Purchase/Conditional Sale. Their rates are higher than a personal loan with Lloyds, so maybe try there first

fresvinog

I think it would be possible. Here in Australia, you have to be a citizen first to acquire loans