Student Car Loan: Finance Your First Car with Peace of Mind in 2026
Getting your driving licence opens the door to more freedom, flexibility and opportunities. For many students, owning a car is the next logical step to become independent from their parents, whether for studies, internships, student jobs or social life. But the cost of a vehicle is often out of reach without tailored financing. A Student Car Loan can be a smart solution, provided you meet certain conditions.
As a student, you usually have limited or irregular income, which makes it difficult to access classic car loans on your own. With the right support, a solid guarantor and a clear file, you can still finance your car project in 2026 while keeping your budget under control.
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With a Student Car Loan, your project is analysed based on:
- Your age and legal capacity
- Your guarantor’s income and stability
- The type and price of the vehicle (new or used)
Proper preparation of your application increases your chances of approval and helps you secure a rate adapted to your profile and your car.
From what age can a student obtain a car loan?
To take out a car loan, the borrower must legally be of age. This basic condition applies to all types of credit products offered by Crédit Populaire Européen, including car loans, mortgage loans, holiday loans, motorcycle or scooter loans, as well as various insurance products. Since the official practice of driving a car is only allowed from the age of 18, this requirement regarding the student’s majority usually does not pose a problem.
However, being 18 years old is not enough to obtain financing on your own. Lenders also assess your solvency, stability and repayment capacity. As a student, this is often where the support of your parents or a trusted adult becomes essential to access a Student Car Loan under good conditions.
I am a student: under what conditions can I apply for a car loan?
The administrative formalities to apply for a car loan are relatively simple. However, a student cannot generally obtain this type of loan alone. One of the primary conditions for granting a loan is having a regular and stable income. Student jobs, often temporary or part-time, are usually not considered sufficient: lenders mainly take into account fixed and long-term contracts.
A car loan is usually repaid over a period of three to five years, depending on the price of the vehicle. Without fixed income, it is difficult to guarantee this repayment over time. This is why parents or another adult with sufficient income must act as guarantor and formally commit to the student’s obligations.
In addition, the parents (or guarantors) must be domiciled in Belgium or Luxembourg, and may not be listed with the Belgian National Bank for credit issues. In some exceptional cases, it may be possible to deviate from this rule, but such procedures are more complex and far from automatic.
Role of the guarantor
The guarantor is a central figure in a Student Car Loan:
- They commit to repay the loan if the student cannot.
- Their income and credit history are carefully analysed.
- Their place of residence must be in Belgium or Luxembourg.
A strong guarantor profile reassures the lender and increases the chances of obtaining a favourable decision for the student’s car project in 2026.
What documents are required for the approval of a car loan?
When signing the contract that confirms the approval and officialisation of the car loan, several documents must be provided. The student must present their identity card, and, for people not born in Belgium, a valid residence card. These identification documents are mandatory for any type of loan application.
The student’s parents or guarantors must bring their last three payslips and the last three bank statements showing the payment of their salary into their bank account. These elements allow the lender to assess income stability and the guarantor’s repayment capacity.
For the car itself, the documents differ depending on whether it is new or used. For a new vehicle, an official order form is required. For a used vehicle, the registration certificate, the registration card and the private deed of sale are mandatory. A complete and well-prepared file helps speed up the study of your application and avoid delays.
Key advantages of a Student Car Loan
A Student Car Loan, with a guarantor and a structured file, allows you to finance your first vehicle while preserving a balanced budget throughout your studies. Here are some of the main benefits to keep in mind when planning your car project for 2026.
More independence
Your own car gives you greater autonomy for getting to campus, internships, student jobs or family visits, without relying on public transport or your parents’ schedule.
Controlled budget
Thanks to a fixed monthly payment over 3 to 5 years, you can better anticipate the cost of your vehicle and integrate it into your student budget, with the support of your guarantor.
Secure framework
The conditions, documents and guarantees required are designed to protect both the student and the guarantor, while allowing access to responsible and supervised financing.
Illustrative examples of a car loan
For your information, a lender generally offers different interest rates depending on whether the vehicle is new or used. The APR (Annual Percentage Rate) for a new vehicle is often lower than for a vehicle that is more than three years old. The reason is simple: the lender’s guarantee is stronger on a newer car, because its resale value is expected to be higher.
Vehicles less than three years old are usually considered as new vehicles in the context of a car loan, which may allow you to benefit from more attractive conditions. For older used cars, the rate is generally higher, reflecting the greater depreciation and the higher risk in the event of resale.
Before committing, always take the time to compare the total cost of the loan, the monthly payment, the duration and the type of vehicle you wish to purchase. This will help you choose a financing solution that is compatible with your student life and your guarantor’s budget in 2026.
Ready to finance your first car as a student?
Prepare your documents, talk to your future guarantor and explore the financing options best suited to your profile. Start with a personalised, no-obligation estimation of your Student Car Loan.
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