Guaranteed car finance and guaranteed car loans are what we would termed aimed at those with bad credit and are looking for a lender that will consider the current circumstances of the applicant rather than simply just look at their credit report and decide they will decline the application.
With many customers it may be that the problems they faced were several years ago and could have been the result of divorce, redundancy or even a death in the family and of no real fault of the applicant. For those looking for a finance company that will give people a fresh start based upon the current situation then you have come to the right place. It may well be that you are in the high income bracket and have little outgoings, a mortgaged house and good job – yet despite all this are still struggling to find someone to lend you the funds to purchase the car you want. With Guaranteed car finance the underwriting is carried out by hand and common sense used rather than a computer system. This means that bank statements can be used to show affordability and income and that in cases where it’s clearly obvious that the person can afford the monthly repayments – the car finance will be approved. Every case is different and that is why with the lenders that operate Guaranteed car finance can take into account individual circumstances and actually listen to the reasons why bad credit was placed on credit reports and so we find time and time again that we can successfully place business for our applicants even when they had given up all hope after rejection after rejection.
Many of our customers have already been declined several times before they come across our website and are simply looking for help and advice on how they can achieve guaranteed car finance in their applications. Even in current times it is still possible to find lenders who will offer guaranteed car finance to customers even if they have picked up some adverse bad credit in the last 6 years and it shows on their file.
At Car with bad credit we have built up a panel of many lenders over the years and so have a number of options in which to consider with applications for our customers. The usual requirements for a guaranteed car finance proposal would be that the person is able to show a proof of address – normally a utility bill, be in regular employment, possibly provide a payslip and be able to place a deposit or initial payment on the car.
Other options for those who have a very low credit rating and need to secure a car finance guaranteed offer would be a secured loan if they were a homeowner and with this choice there would be a much lower APR due to the increased security of the property.
Guaranteed car loan
Similar to the guaranteed car finance option – car loans can be another route to owning the car that you want even with bad credit showing. Often this type of application can result in a much quicker decision and will depend on the amount you are looking to borrow and over what period of time.