If you are hoping to finance a car in the UK with a European driving license then you shouldn’t have too many problems as long as you fulfil other criteria.

If you go to a car credit showroom such as the Concept Car Credit showroom you will find hundreds and hundreds of cars available. You should know your credit history before you go though as this can mean the difference between getting a great deal and having to accept a less than perfect finance package. It can also mean the difference between getting the car you really want and getting a car that you have been offered.

When you go to the car credit showroom you will talk to an advisor initially to work out just how much you can borrow. These types of car credit showrooms are used to helping people finance their car purchase who have a less than ideal credit history.  This can be quite a nervous time for people while they wait for the amount they can borrow to come back. Once they have a figure though they will be shown all of the cars that they will be able to afford.

Some proof of identity will be required such as a UK or European driving licence.  People who come from outside the UK but who have a European driving licence will be able to get finance as long as they have been resident in the UK for over three years, have a permanent position of employment, a bank account and preferably are home owners.

People from Europe have the right to apply for car credit and won’t usually have any more difficulty than a UK resident if they have built up some form of credit history.  This might be a credit card or mortgage, a loan or catalogue account. The same criteria apply for UK residents and non UK residents regarding credit scores. Previous defaults on payments, CCJs, mortgage arrears and other credit agreements will go against the potential borrower.

One thing to remember though is that the car doesn’t belong to you until you have made the final payment. You have to keep up the repayments or you will risk losing your car.  This is one of the negative aspects of a car credit showroom as they will use the car as security.

To summarise, a car credit showroom can help people, from outside the UK as well as UK residents, finance a car even if they have a poor credit history. If you have a great credit score then other options might suit you better. However, it might still be worth a trip to the showroom to have a look and compare the cars and their prices to other showrooms.

By Tobias

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