What is a joint car finance application?
A joint application in car finance is when two people apply for car finance, using both sets of personal details for the application. The lender then assesses details such as income, debt and credit history of both applicants.
How does a joint car finance application work?
A joint car finance application works similarly to an individual car finance application. The lender conducts a soft and hard credit check to evaluate eligibility and reliability based on credit scores and history.
Once approved and when the agreement starts, both parties will be responsible for making the monthly payments. At the end of the agreement, ownership of the car will be transferred to both parties.
