Car Finance on Learners

[Sinbad]

I had insurance on learners. However cannot get finance on learners. Insurance on learners is a bit more than on license and if you get involved in a crash, even if its not your fault you have to have a licensed driver with you otherwise they wont pay. They might pay the other party though if it is your fault.

That's because it's illegal to drive without a licensed driver in the car.

 

[CrenulateInk98]

Thank you all for your input. I gave my friend the link to this thread and as you guys suggested he will be better off getting his drivers license and will stick to public transport for the time being.

 

[Corical]

noob.

 

[Sashus]

This is an interesting thread - so many sources state as most posters have noted you cannot get vehicle finance with a learners only. But when I approached a dealership they advised I can apply for finance with a learners only provided that my spouse has a drivers and insurance to cover the car. So this seems to be a loop hole then? Additionally the insurance is dependent on my always driving with a licensed driver at all times. I have not applied as yet, but the financial manager at the dealership has confirmed the above. I am trying to see if I can get my license timely otherwise might take the plunge. Ps. the reason my husband doesn't just apply is credit history from 1 year ago is faulty and you need at least 3 years consistent credit history.

 

[rh1]

This is an interesting thread - so many sources state as most posters have noted you cannot get vehicle finance with a learners only. But when I approached a dealership they advised I can apply for finance with a learners only provided that my spouse has a drivers and insurance to cover the car. So this seems to be a loop hole then? Additionally the insurance is dependent on my always driving with a licensed driver at all times. I have not applied as yet, but the financial manager at the dealership has confirmed the above. I am trying to see if I can get my license timely otherwise might take the plunge. Ps. the reason my husband doesn't just apply is credit history from 1 year ago is faulty and you need at least 3 years consistent credit history.

This makes sense, as long as you have a licenced driver and a red L, there should be no issue, however, having your husband as the main driver for insurance will definitely lower the premium has he has licence.

I financed both cars, although am licensed, when getting insurance for the second car, I said my wife would be the main driver.

 

[Sashus]

This makes sense, as long as you have a licenced driver and a red L, there should be no issue, however, having your husband as the main driver for insurance will definitely lower the premium has he has licence.

I financed both cars, although am licensed, when getting insurance for the second car, I said my wife would be the main driver.

so logically speaking it is possible, thanks for the response.

I will update should i apply successfully for vehicle finance with only a learners.

 

[Sashus]

Update: Car Finance was approved with my learners! Insurance also approved under my husbands name with him nominated as the primary driver. So yes, it is possible to get car finance with a learners and insurance provided the main driver has a license and insures the vehicle.

Hope this helps.