Employment criteria for car finance
When trying to borrow money from a finance provider, you need to be able to show them that you are able to repay whatever amount they lend you.
At Socialmotors, we require you to show you have permanent employment or show you have a regular income.
We need this for us to be able to submit your application, to be considered by a loan provider. Socialmotors obtain loans for people looking for cars, bikes, vans and motorhomes.
Employment status’ considered
Car finance from lenders is subject to status and your current income..
- College student
- Disability benefits
- Self employment
- Part time workers
- Taxi drivers
- Retired people
- NHS staff/ nurses
- About to start a new job (must have employment contract)
- Stay at home Mum/Dad
- British Army – (UK resident)
Obviously, a successful application for car finance is never guaranteed. Being able to show you are in full time employment or have a guaranteed regular income would be a great start. To prove this, the documents expected would be either wage slips or bank statements.
Our panel of lenders provide finance options to suit all credit histories and profiles. We offer low rate loan options for those with excellent credit, to options for people with extremely bad credit. Even if you have been refused everywhere else, we may still be able to help.
Car finance types available:
Get in touch to see how we can help you.