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As a student you will be able to get financed through Budget Auto Finance although there are certain things that you will need to do to satisfy the criteria set out by us.
We will not be put off by the fact that you do not have a credit history and are only concerned about trying to find a solution for you. The most important specification you will need to show is that you will make your payments when they are due. Everyone needs to start a credit history and this will be your first step towards doing that so you need to be aware of the importance of not paying late. Tutors may give extensions for assignments but we like to see the payments come in on time.
You will need to have employment of some sort as you have to demonstrate that you have an income and can make your payments. It does not have to be many hours or make things difficult at college but we will clear you as not suitable if there is not an income coming in.
It will go in your favour if you have a savings account and can demonstrate that you have been saving for a number of months. There are a couple of reasons why that is important.
Once you have applied you need to think about the extra money that will be taken up when running a car. As well as petrol and insurance you need to consider tax and repairs that may be needed. We will give you a warranty but they rarely last the length of the finance deal. Again savings will be important as it will reassure us that you will have money to deal with issues in the future.
It may seem obvious but you are going to have to prove that you are a student. At Budget Auto Finance we want to make sure we are dealing with a genuine student and not someone claiming to be a student to cover for a lack of income and credit history.
