Joint car finance

Can I make a joint car finance application?

You can apply for joint car finance if both applicants are over 18, live in the UK, and can afford the repayments. Most lenders also require you to live at the same address.

It is common to apply for joint car finance for married couples or family members. A joint car finance loan allows both individuals to share responsibility for the repayments and the finance agreement. Some lenders may require that both parties live at the same address. It means in some cases, it can be hard for you to get approved. You should consider who you will apply with before going for joint car finance.

At Carplus, we guide you through the process and help match your application to a lender that fits your situation, including if one of you has a poor credit score.

What is a joint car finance agreement?

A joint car finance agreement lets you apply for car finance with another person, usually your partner or a family member. This type of arrangement allows both applicants to combine their income and credit histories (financial records showing how you’ve managed credit in the past), which may increase your chances of approval.

Lenders assess both applicants when you make a joint application. If one of you has a better credit score (a number used by lenders to measure your reliability), it can help support the application. For example, if you have a poor credit score but your partner has a higher credit score and stable income, a joint car finance agreement could help you get a better rate or access finance you might not qualify for alone.

Both applicants take equal responsibility for repaying the loan. You’ll share the monthly payments, and the lender will expect you to keep up with repayments throughout the term. Most lenders require both applicants to live at the same address and agree on who owns the car (known as the registered keeper). You’ll agree who drives the car (the registered keeper) and most lenders require you to live at the same address. This shared approach may increase your chances of approval—especially if you’ve had financial difficulties before.

At Carplus, we know it’s not always easy to get approved on your own. That’s why many applicants choose to apply with someone they trust. A joint car finance agreement can help if one of you has a stronger credit score or higher income, as lenders look at both credit histories when reviewing the application.

How does a joint application work?

At Carplus, we make the joint application for car finance simple, fast, and clear. You and your joint applicant—usually your partner or family member, can apply together by following a few key steps.

Here’s how joint car finance works:

1. Start your application
   Complete our quick online form with your personal details, income, and affordability (your ability to make payments based on income and expenses).
2. We contact you
   One of our car finance specialists will call you to go over your application and answer any questions.
3. Add someone to a car finance application
   You provide details for the second applicant. This person must share the responsibility for repaying the loan and would usually need to live at the same address.
4. We match you with lenders
   We work with a wide panel of lenders who accept joint applications. We’ll find the most suitable options based on both credit files and combined income.
5. Credit checks
   Our lenders use a soft credit check first (a check that doesn’t affect your credit score). If you proceed, the lender will carry out a hard search, but only with your permission.

When you apply for a joint application for car finance, lenders review both applicants. If one of you has a lower credit score, the other’s profile may improve your chances of being approved for car finance. The application may succeed based on your shared affordability and credit histories.

A joint agreement means both of you must make payments on time. Missed payments can affect your credit score over time, including the score if the other person defaults. That’s why we make the ins and outs of the agreement clear from the start.

Joint application vs guarantor finance – which is better?

If you're comparing options, both joint car finance and guarantor finance involve more than one person supporting the application for car finance. But how each option works—and who is responsible—differs significantly.

When you apply for a joint car finance agreement, both applicants share equal responsibility for repayments. You take out car finance together, and lenders assess both credit profiles and income to decide if you qualify for a loan. This option works well if both of you have steady income and want to split the cost equally.

In a guarantor finance agreement, only one person applies for the loan. The guarantor agrees to step in if the applicant cannot make payments. This option might be a good fit if you have financial difficulties and are unable to qualify for joint car finance based on your own credit history. The guarantor must usually have a stronger credit file and meet the lender’s affordability checks.

Each finance option may suit different situations. If you're applying with your partner or family member and want to share ownership and repayments, joint car finance might be the right choice. If your credit score is too low to qualify, using a guarantor could improve your chances of approval.

Joint car finance with a bad credit score

You can still apply for joint car finance with bad credit. At Carplus, we understand that poor credit shouldn’t stop you from financing a car. Many lenders in the UK accept joint applicants where one person has a stronger credit history. Applying with someone who has better credit and a stable income can increase your chances of being approved for a car finance agreement.

When you apply for a joint finance loan, lenders assess both applicants’ credit scores, incomes, and affordability. A good credit profile from one applicant may offset a lower score from the other. This approach helps you qualify for a loan, even if you've faced financial difficulties and are unable to apply alone.

At Carplus, we work with authorised lenders who look at the full picture—including credit checks, monthly payments, and repayment history. We help you find a joint car finance agreement that suits your budget and financial goals. Your application is subject to status, but joint car finance can help you get approved on terms that work for both applicants.

You might face a higher interest rate if one applicant has bad credit. But by choosing the right joint applicant and finance option, it's possible to get accepted and improve your credit score over time through consistent repayments. Talk to Carplus today to explore which joint finance option is right for you.

Advantages and disadvantages of a joint car finance

If you’re thinking about applying for joint car finance, it’s important to understand how it affects both applicants. We help you weigh the benefits and risks, so you can make an informed decision based on your credit history, income, and financial goals.

Advantages:

Stronger application profile
If your credit score or income isn’t strong enough on its own, applying with a joint applicant may increase your chances of being approved for a finance loan.

Balance credit and income
One applicant may have a lower credit score but higher income, while the other has better credit but lower income. Combined, this may help meet the lender’s criteria for affordability and credit risk.

Shared responsibility
You can share monthly payments and repayment responsibility with someone you trust—usually a partner or family member.

Better interest rates
A joint application with a strong credit profile may help you access lower interest rates or more flexible repayment terms.

Disadvantages:

Shared liability
Both applicants are equally responsible for repaying the loan. If payments are missed, both credit files will be affected.

Financial risk if circumstances change
If one applicant can’t keep up with repayments due to financial difficulties, the other must cover the full amount. This can put strain on the agreement and relationship.

Long-term impact
The finance agreement links both applicants’ credit histories for the duration of the loan. Future applications may be affected by each other’s credit behaviour.

When should you make a car finance joint application?

A joint application can help you get car finance in the UK if your own credit score or income isn’t strong enough to qualify alone. Lenders assess both applicants’ credit histories, incomes, and financial commitments, so applying with someone who has better credit and a steady income may increase your chances of approval.

You should consider a joint car finance agreement if:

• You have a poor credit history and need support from a joint applicant with better credit.
• Your income alone doesn’t meet the lender’s affordability criteria.
• You want to share a vehicle and make repayments together with your partner or family member.
• You’ve been declined for finance in the past and need a stronger application profile.

A joint application may also help you access lower interest rates and more flexible repayment terms, depending on your combined financial profile.

At Carplus, we help you choose the right option based on your circumstances. If joint car finance suits your needs, we’ll guide you through the process and match your application with trusted UK lenders.

Should I get joint car finance or a guarantor?

Generally speaking, a joint application is an excellent option for a wide range of people who require car finance. A joint car loan can benefit individuals with varying incomes and credit histories, detailing the responsibilities involved, such as the designation of a primary user and the implications for credit scores, repayments, and ownership. For instance, if you happen to have fairly low income yet good credit and your partner has higher earnings, joint car finance is definitely something to consider. It is also a great opportunity for those who have bad credit or are receiving benefits. A co-signer with a better record is likely to improve your application’s chances of success significantly.

Are we eligible for joint finance?

You can apply for joint finance if you meet a few basic checks. We make the process simple and explain every step along the way.

To get started, you’ll need:

• A monthly income of at least £1,200
• Your full name and date of birth (you must be 18 years old or over)
• A UK driving licence
• A mobile number and email address
• Your residential address (you must have lived in the UK for 12 months or more)
• Details of your employment or income source
• Confirmation of your residency status