Different car finance providers will have different maximum age limits for their loans, so it’s worth shopping around to find one that will work with your needs and within your life circumstances. The main things that any potential lender will scrutinise are your credit history, your income, and the status of your licence – however, there are still ways of securing car finance even with a poor credit score.

This article details the minimum and maximum age limit for car finance, laying out factors to consider before applying, so that you can go into your car finance search as informed as you can be.

Is there a minimum age limit for car finance?

In order to secure car finance, you need to be a minimum of eighteen years old. It might seem strange that you can pass your driving test and hit the roads at the age of seventeen yet be unable to take out car finance, but there’s a reason for this.

Car finance is a credit agreement – also known as a loan agreement. This is a legally binding contract established and agreed upon by a borrower and a lender. It’s an official document that typically lays out the terms of the loan, as well as details such as the total amount due, your rights as a borrower, any conditions surrounding early repayment, a timetable of expected repayments, and repayment terms.

Credit agreements can only be entered into by those over the age of eighteen. As car finance is a credit agreement, this means that you can only secure it once you hit that age.

At the age of eighteen, you’re unlikely to have built up a substantial credit history. Depending on the car finance provider you’re looking to enter into an agreement with, you may be able to apply for a guarantor loan. This is essentially where someone else with a good credit history – for example, a family member – agrees to pay off your debt in the instance of you being unable to. Be aware, however, that guarantor loans may have a maximum age limit.

Is there a maximum age limit for car finance?

Whether or not you have car finance eligibility varies between providers. Some providers will take retirees and pensioners, as they’ll scrutinise your credit score and history. It really depends on the provider that you’re seeking a car finance deal from.

However, in most cases, the maximum age for car finance eligibility is seventy-five. That said, if you are retired, we will work with you in order to help you find car finance. It’s your credit history that really matters, as well as proof of income. This can come from either a pension, investment or property rental income.

If you are either retired or a pensioner, it’s also worth being aware that any lender with whom you enter into an agreement will likely look to minimise the term of the loan, so as to share any associated risks.

What to consider when applying for car finance

There are ways to make yourself a more appealing candidate for car finance, even if you are close to a provider’s maximum age limit.

Checking your credit report before applying for financing can help you gauge what kind of candidate you might be, which will put you in the driving seat (so to speak) during your search for car finance. Although there are ways to secure car finance with a poor credit rating, you’ll get a better deal if you’re a low-risk borrower.

Having money to put towards a deposit on the car can also make you a more attractive candidate, as it will reduce the total amount that you’re borrowing. It will therefore be more affordable overall, and your monthly repayments will be more manageable. You’re also likely to pay lower overall interest, too.

You’ll experience similar benefits if you opt for a shorter-term car finance contract, too. You may end up paying more with every monthly instalment, but you’ll save on overall interest rates.

See how My Car Credit can help you

We’re happy to work with drivers in different age groups to help you secure your dream car finance. Find out how we can kickstart your car finance journey by emailing our friendly team on enquiries@mycarcredit.co.uk.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating


  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed


  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs


  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit


  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past


  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan

X monthly repayments of

Typical rate

Loan amount

Total payable




*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!