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Car finance ›
Can I get car finance with a provisional licence?
Updated: Thursday, 8 February 2024
If you’re a provisional licence holder in the UK and are looking to buy a vehicle whilst learning to drive, you may want to consider applying for a car finance agreement. While it might be more challenging compared to applying with a full UK driving licence, there are options available.
This guide will help you understand how to get car finance with a provisional licence and explain how you can improve your chances of approval.
Getting car finance with a provisional licence
When it comes to obtaining car finance with a provisional driving licence, the rules vary depending on which lender you choose and whether you are applying as a single or joint applicant.
Many lenders also set minimum age requirements for applicants with provisional driving licences. We can’t speak for other lenders, so this article outlines our application criteria.
It is important to note that, when applying with us, applicants must be a minimum of 20 years old to be eligible to apply for car finance with a provisional licence. You must also provide a valid pass certificate.
Applying for car finance as a single applicant
Single applicants may provide one of the following as proof of identity:
- A full UK driving licence
- A provisional licence accompanied by a valid pass certificate
- If you haven’t yet passed your practical driving test and don’t have a full UK licence, you can provide a DVLA check code (or a DVA check code if you’re a resident of Northern Ireland) along with a valid UK/EU passport.
Applying for car finance with a joint application
For joint applicants, the requirements will vary depending on whether you are an existing Moneybarn customer or not.
If both applicants are new customers, at least one of them must have a full UK driving licence. If both applicants are existing customers, they must provide full UK driving licences.
How to apply for car finance with a provisional licence
It’s important to fully understand how car finance works before making an application. We offer a Conditional Sale agreement which means you’ll make monthly payments and fully own the car when you make your final payment.
1. Research car finance providers
Start your journey by researching car finance providers that accept provisional licences. Not all lenders will have the same eligibility criteria, so it’s crucial to find those specialising in providing car finance to provisional license holders.
2. Check your credit file
Your credit history plays an important role in the approval process. Even if you’re a young driver with limited credit history, having a good credit score can help improve your chances of approval.
3. Consider a specialist lender
If your credit history is less than perfect or if you have no credit history at all, you may need to apply for car finance with a specialist lender. We specialise in providing car finance for people with bad credit or who have had applications refused in the past.
4. Decide if you’ll put down a deposit
Saving for a deposit can help reduce the overall cost of your car finance agreement. However, if you’re unable to save for a deposit, don’t worry. Some lenders can offer car finance agreements without requiring them to pay a deposit.
5. Make an application
Once you fully understand the finance you’re applying for, you could get a quote. This gives you an instant decision as to whether we could help. Better yet, we only use a soft search at the point of application, which doesn’t affect your credit score. We only use a hard search once you’ve found the right car and contracts are drawn up for you to sign.
Improve your chances of getting car finance with a provisional licence
There are some things you could do that may increase your chances of getting car finance:
- Limit applications: multiple applications for car finance can negatively impact your credit rating, as some lenders use a hard search when you apply. Only make an application once you understand the terms and conditions and know what type of search is being made.
- Check your credit file: checking your credit file can help you understand if there’s anything that may affect your chances of getting approved. You can also check that all the information is correct, and if there are any mistakes, you can get them corrected. Read our blog to discover how to improve your credit score.
- Try to make payments on time: missed or late payments will negatively affect your credit score and may leave a lasting mark on your credit file. This can affect your ability to get approved in the future, so be mindful of how much you are borrowing and try to ensure your debts get paid in full and on time.
For further information, take a look at our guide: how to increase your chances of getting finance.
Car finance for provisional license holders from Moneybarn
Whilst it is possible to get car finance with a provisional licence, not all lenders will accept applications from people who do not have a full driving licence. If you’re looking to get a car on finance with a provisional licence, you may need to use a specialist lender.
We have over 30 years of experience helping people up and down the UK onto a better road ahead. We could help even if you’ve been refused by mainstream lenders. Better yet, we accept applications from provisional licence holders, so long as you are over the age of 20 and can provide a valid pass certificate.
It takes less than 5 minutes to get a quote. We use an initial soft search to give you an instant decision, which doesn’t affect your credit score
FAQs about getting car finance with a provisional licence
What ID is required when applying for car finance with a provisional licence?
A lender will use a soft check to confirm your identity, as well as ask for documents such a provisional licence or full driving licence. If any additional information is needed, an expert from our team will be in touch to help.
Do you need to have a full UK driving licence to apply for car finance?
Not all lenders are able to accept a provisional licence. We can accept provisional licence holders, but we can’t speak for other lenders as their eligibility criteria will be different.
Who is eligible for car finance with a provisional driving licence?
Eligibility criteria differ from lender to lender, so it’s important to check the specific terms and conditions of the provider you’re applying with. Under UK law, you can’t apply for any financial product (such as car finance or a personal loan) until you are 18 years old. If you’d like to apply with us, you must be at least 20 years old at the point of application.
If you’re a provisional licence holder in the UK and are looking to buy a vehicle whilst learning to drive, you may want to consider applying for a car finance agreement. While it might be more challenging compared to applying with a full UK driving licence, there are options available.
This guide will help you understand how to get car finance with a provisional licence and explain how you can improve your chances of approval.
Getting car finance with a provisional licence
When it comes to obtaining car finance with a provisional driving licence, the rules vary depending on which lender you choose and whether you are applying as a single or joint applicant.
Many lenders also set minimum age requirements for applicants with provisional driving licences. We can’t speak for other lenders, so this article outlines our application criteria.
It is important to note that, when applying with us, applicants must be a minimum of 20 years old to be eligible to apply for car finance with a provisional licence. You must also provide a valid pass certificate.
Applying for car finance as a single applicant
Single applicants may provide one of the following as proof of identity:
- A full UK driving licence
- A provisional licence accompanied by a valid pass certificate
- If you haven’t yet passed your practical driving test and don’t have a full UK licence, you can provide a DVLA check code (or a DVA check code if you’re a resident of Northern Ireland) along with a valid UK/EU passport.
Applying for car finance with a joint application
For joint applicants, the requirements will vary depending on whether you are an existing Moneybarn customer or not.
If both applicants are new customers, at least one of them must have a full UK driving licence. If both applicants are existing customers, they must provide full UK driving licences.
How to apply for car finance with a provisional licence
It’s important to fully understand how car finance works before making an application. We offer a Conditional Sale agreement which means you’ll make monthly payments and fully own the car when you make your final payment.
1. Research car finance providers
Start your journey by researching car finance providers that accept provisional licences. Not all lenders will have the same eligibility criteria, so it’s crucial to find those specialising in providing car finance to provisional license holders.
2. Check your credit file
Your credit history plays an important role in the approval process. Even if you’re a young driver with limited credit history, having a good credit score can help improve your chances of approval.
3. Consider a specialist lender
If your credit history is less than perfect or if you have no credit history at all, you may need to apply for car finance with a specialist lender. We specialise in providing car finance for people with bad credit or who have had applications refused in the past.
4. Decide if you’ll put down a deposit
Saving for a deposit can help reduce the overall cost of your car finance agreement. However, if you’re unable to save for a deposit, don’t worry. Some lenders can offer car finance agreements without requiring them to pay a deposit.
5. Make an application
Once you fully understand the finance you’re applying for, you could get a quote. This gives you an instant decision as to whether we could help. Better yet, we only use a soft search at the point of application, which doesn’t affect your credit score. We only use a hard search once you’ve found the right car and contracts are drawn up for you to sign.
Improve your chances of getting car finance with a provisional licence
There are some things you could do that may increase your chances of getting car finance:
- Limit applications: multiple applications for car finance can negatively impact your credit rating, as some lenders use a hard search when you apply. Only make an application once you understand the terms and conditions and know what type of search is being made.
- Check your credit file: checking your credit file can help you understand if there’s anything that may affect your chances of getting approved. You can also check that all the information is correct, and if there are any mistakes, you can get them corrected. Read our blog to discover how to improve your credit score.
- Try to make payments on time: missed or late payments will negatively affect your credit score and may leave a lasting mark on your credit file. This can affect your ability to get approved in the future, so be mindful of how much you are borrowing and try to ensure your debts get paid in full and on time.
For further information, take a look at our guide: how to increase your chances of getting finance.
Car finance for provisional license holders from Moneybarn
Whilst it is possible to get car finance with a provisional licence, not all lenders will accept applications from people who do not have a full driving licence. If you’re looking to get a car on finance with a provisional licence, you may need to use a specialist lender.
We have over 30 years of experience helping people up and down the UK onto a better road ahead. We could help even if you’ve been refused by mainstream lenders. Better yet, we accept applications from provisional licence holders, so long as you are over the age of 20 and can provide a valid pass certificate.
It takes less than 5 minutes to get a quote. We use an initial soft search to give you an instant decision, which doesn’t affect your credit score
FAQs about getting car finance with a provisional licence
What ID is required when applying for car finance with a provisional licence?
A lender will use a soft check to confirm your identity, as well as ask for documents such a provisional licence or full driving licence. If any additional information is needed, an expert from our team will be in touch to help.
Do you need to have a full UK driving licence to apply for car finance?
Not all lenders are able to accept a provisional licence. We can accept provisional licence holders, but we can’t speak for other lenders as their eligibility criteria will be different.
Who is eligible for car finance with a provisional driving licence?
Eligibility criteria differ from lender to lender, so it’s important to check the specific terms and conditions of the provider you’re applying with. Under UK law, you can’t apply for any financial product (such as car finance or a personal loan) until you are 18 years old. If you’d like to apply with us, you must be at least 20 years old at the point of application.
For a better road ahead
Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses.
Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573, and Moneybarn Limited, a company registered in England and Wales with company number 02766324. The registered address for these companies is: Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.
Moneybarn’s VAT registration number is 180 5559 52.
Moneybarn Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702781)
Moneybarn No. 1 Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702780)
