Finance Q&A - Personal Circumstances

Can I make a joint finance application?

Can I make a joint finance application?

Karl Browne

Answer from the Stoneacre finance team:

Hi Karl, thanks for using our Q & A pages.

Yes you can indeed. However, before you decide to make a joint application for car finance there are a few important scenarios to consider.

Firstly, if you were to have joint car finance then both you and your co-signer would be held legally responsible for maintaining the repayment schedule. Essentially this means that if you are at some point in the future unable to fulfil your payment commitments due to unemployment, financial difficulty or any other reason, your co-signer would be expected to pick up the payments from where you left off.

It's also worth noting that if either of you already have bad credit, making a joint application will link your finances with the credit reference agencie(s) that the lender in question uses and could therefore effect both you and your co-signers ability to obtain further credit, either jointly or individually.

If you have taken this into consideration and would like to make an application, please submit one here or give our team a call on 01405 744186 and they will be happy to discuss your options in more detail.

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Related questions

Could I apply for joint finance?

<p>Could I apply for joint finance? I have a licence, am a carer for my sons and get a good income of £2,100 a month. However, I have bad credit, my son works full time and has better credit but doesn't have a licence.</p>


Answer from the Stoneacre finance team:

<p>Hi Kelly, that's not a problem! We have two options for you, your son could apply for the finance in his name, we have one lender available that will consider his application if he doesn't have a licence. Alternatively, we could do the finance in your name, we have two lenders available that would still consider your application even though you're unable to work. Unfortunately, we don't have any lenders that would consider yourself and your son together. Hopefully this information helps! Please do give us a call on 01405 744 186 if you wish to apply.</p>

Can I make a joint car finance application with my wife?

My credit isn't good, can I apply for credit with my wife on it? She doesn't have a driving licence but more for money as she has income.

Jason Bickley

Answer from the Stoneacre finance team:

Yes, this is definitely something we can look at for you, although we would need to know all details to give an exact decision.

Can I get a car on finance with mine and partner's wages together?

<p>Hello. I have a question about me and my partner, I earn around £800 a month and he earns around £1,400 a month but he doesn't drive. Am I able to get a finance out for myself using both wages which goes into my account? If my partner is present with me? Thanks.</p>

Natalie Lewis

Answer from the Stoneacre finance team:

<p>Thank you for your question, if the application is only in your name the lender will only take your income into account, some of our lenders will consider the £800 without any additional income depending on your credit. If you wanted your partner's income to be taken into consideration he would need to be on the application as well. Hope this information helps.</p>

Can I apply for finance with a family member?

Hello, I have a full driver's licence but a really bad credit score. I have a family member who has a fantastic credit rating but doesn't have a licence and is over the age of 70. What could I get as a solution? Thanks.


Answer from the Stoneacre finance team:

Thank you for the question, this could possibly be something we could help with but it does depend on who the family member is and their personal circumstances.Please do give us a call on 01405 744186 and we can see what we can do!