Recommendations for companies offering student car loans ?

smallzoo2

Anyone recommend some good companies where my daughter can search for a car loan. She is a student but also works part-time

Thanks

GeordieGeorge

HSBC
Barclays
Lloyds
Natwest
Nationwide
Santander
Metrobank

jay1804

If she goes for car finance it should be easier to get, as secured on the car, instead of a tradition loan.

Edi81

Does your daughter work?
car finance may be easier to obtain - many years ago I had HP whilst I was a student but i also had a part time job. 

smallzoo2

Thanks but other than the first reply which names very bank in the uk..lol... I was looking for the best way to find out if she would be eligible. I've heard of companies like stoneacre etc but just not sure which route to take

jay1804

smallzoo2 said:

Thanks but other than the first reply which names very bank in the uk..lol... I was looking for the best way to find out if she would be eligible. I've heard of companies like stoneacre etc but just not sure which route to take

The best way is usual finding a dealer and letting them do an application.

smallzoo2

Dealer ? what do you mean 

[Deleted User]

Keep in mind finance will be offered based on what is affordable - a part time job as a student which had little guarantee and, depending on the job and location, may not even be all year round with holidays, is not the way to get a car finance package. She'd do better saving up and getting a cheap run around - term has almost certainly already ended and won't start again for 3-4 months , if she keeps working she could easily save up enough for a basic car with MOT that is cheap to insure

smallzoo2

Thanks for that. Its not about a cheap car its about a reliable one. She will be driving 60miles round trip 5 days a week and maybe another 60 miles at the weekend. She often drives on the motorway to work ( as a carer for brain damaged adults ) so looking for a mid performance  car that she ( within reason, we dont have a crystal ball ) can rely on. Hence the idea of a loan for a nearly new small car

Shakin_Steve

I don't think she'd have much chance of passing the affordability test, not without a guarantor.

yksi

Pretending that only near-new cars are reliable is a fallacy. I am driving a 13yo one-litre Peugeot 107 with 115k on the clock and it is bombproof. It's worth about £800 and runs on the smell of an oily rag. And I drive on a 70mph zone daily. She has fallen for a tall tale if she thinks she needs to finance a nearly-new car while she still only works part-time, because realistically, it is not affordable nor within her means. Don't take my word for it though, apply with dealers - but I do doubt she'll pass affordability. This is to protect her from entering a credit agreement she can't afford.

I would also question whether it's financially viable to be travelling so far for a part-time job which probably isn't very highly-paid - unless of course it is essential to her studies or the field she is studying (when it makes sense). This part isn't a dig, it's a pattern I have seen many times, as I was employed as a job coach for young people - there are so many young people out there who take it for granted that "working pays" despite travelling long distances and they routinely get a shock when the cost of their "real" take-home pay hits them. I have lost count of the number who subsequently threw it in to take a local job instead to save money. And if you live anywhere at all near tourism, accommodation sectors are screaming for staff right now.