Can You Get a Car Loan With No Licence?
Can you get car finance with no licence?
There may be many reasons why you’re in a position of wanting to get car finance without having a licence. These can vary from; people wanting to buy a car with the intention of getting a licence in the near future, to those who are buying a car using finance for someone else who has a licence to drive it.
Whatever the reasons, it’s good to have an understanding of how to get a car loan with no licence before you begin the application. Always be honest with lenders and remember: never drive a car without a licence!
At Positive Lending Solutions, we’ve got decades of experience helping people in all situations to find the right car finance for them. Speak to us today for help getting a car loan with no licence.
How do you get a car loan with no licence?
If you’re paying for a car with cash, you won’t need a driver’s licence to buy it. If you’re buying a car using car finance with no licence, you’ll need at least some form of photo ID.
If you don’t have a driver’s licence and you’re looking for car finance, you should consider your other forms of ID and use one of these instead. You can also insure your vehicle without a driver’s licence, although there are some variations between different states in Australia and with different insurance companies.
The process of getting a car on the road is often much easier with a driver’s licence – especially when it comes to registering the vehicle. When it comes to financing your vehicle, the lender will usually ask for your name as the one that is on the title. However, you can’t register the vehicle or drive it on public roads without a valid driver’s licence.
Possible issues when getting a car loan with no licence
So it’s possible to get car finance with no licence. Think carefully about how things will be further down the line though. In many states, you’ll find that without a driver’s licence you can’t register your vehicle, and without registration and licence plates, you can’t legally drive it on public roads.
If you are getting car finance to buy the car for somebody else, you also need to be entirely sure that the person who will be driving the car is trustworthy and sensible. Having car finance in your name is a big responsibility and you won’t want to damage your credit history or financial record if issues arise further down the line.
Getting car finance with no licence in different states in Australia
It’s worth considering where you are purchasing your car if you are trying to get car finance with no licence in Australia.
Different states have varying requirements for getting car finance and in some cases, it could be easier for you to register in another state and transport the car – obviously, this could have extra costs attached, so think carefully before taking this option.
In Victoria and New South Wales, you can get car finance and register a vehicle without having a licence. But in South Australia, you are not able to register a vehicle without a licence in the state.
Finding the right lender for you
We understand that there may be circumstances where you are trying to get car finance with no licence. Whatever the situation, it’s important that you find the right lender for you to ensure that you’re never paying too much for your car finance and to avoid issues in the long-term.
At Positive Lending Solutions, our years of experience and access to a wide variety of lenders means that we can save you time, money and stress by doing the hard work for you. Speak to us today to find out how we can help get a car loan with no licence.