Guarantor car finance
Borrow up to £10,000

CCJ’s & defaults OK. Payout within 24 hours. Instant decision.

Set your car loan budget

Representative example – excellent credit Borrowing 7500 over 4 years with a representative APR of 6.9% and a deposit of £0, the amount payable would be £177 per month, with a total cost of credit of £1,035 and a total amount payable of £8,535.

I would like to borrow
I will repay it over
  • Best available rate:6.9%
  • Total repayment 8,535
  • Total cost of credit 1,035
48 monthly payments of 177
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Borrow up to £10,000 with a guarantor
+ CCJ's and defaults OK.
+ We can help if you've struggled to get a car loan.
+ Fast payout, no fees, secure application.

What is a guarantor car loan?

Guarantor car finance is a loan where a third party individual agrees to guarantee the repayment of your car finance loan when you default/fail to make the necessary payments. In this way, a guarantor will support your application for car finance by agreeing to be responsible to pay off an outstanding loan. In other words, your nominated guarantor is contractually bound to step in and make the remaining payments on your behalf.

How does it work

Once your nominated guarantor has formally agreed to accept that role, your application for car finance is processed by us in the normal speedy fashion.
We charge no fees and no upfront deposit is required for guarantor car finance but the loan is paid directly into your bank account, so that you have cash in your pocket to buy the car of your choice, from any source, new or second hand.
You don’t even have to use your guarantor loan to buy a car. It may be used for debt consolidation, where you use the advance to pay off an existing loan or line of credit, and by so doing, merge your debts into one single, manageable loan.

A guarantor loan is similar to a personal loan as you are able to decide how you use the funds. For example, you have the freedom to purchase a car, pay for your car insurance and your road tax.

Who can be my guarantor?

Almost anyone can act as your guarantor but they must not be financially linked to you such as a spouse. They could be another family member, a friend or even a work colleague. They must provide bank details, bank statements and ID.

For someone to be accepted as your guarantor they will need to be between 18 and 75 years of age who can afford the repayment schedule if you fail to do so. They must also have a good credit history who have had no problems in managing their debts in the past. It is also advantageous if they are a homeowner although this is not a strict requirement. This is not to say that the guarantor’s home is at risk if you default on your repayments. Rather , that they are bound to make the repayments on your behalf if it becomes necessary for them to do so.

In some circumstances lenders will accept tenants who have been at the same address for many years and who have an excellent credit history.

Who would benefit from taking out a guarantor car finance deal?

This policy is ideal for those who have a less than perfect credit history and/or have difficulty in getting approved for finance. This may be because you do not have a regular income, you’re newly or self employed or you have a zero hours working contract. It’s also helpful if you have county court judgements against you or you’ve been declared bankrupt. In general, these loans will allow you to borrow a higher amount than you would be able to normally with poor credit. However, it is very important to think about what payments you will be able to afford instead of what the highest amount of finance you’ll be able to get from a lender. Use our car finance calculator to work out what monthly repayments will suit your current financial situation.

What will happen if I fail to keep up with my monthly repayments?

If you fail to make your repayments then your guarantor is liable for your debt. The lender will ask them to make the payment(s) on your behalf. You could, therefore, both get issued with a county court judgement (CCJ) against your names. This will affect your abilities to obtain credit in the future.

How long does it take to get a guarantor loan?

If you are looking to buy a new or used car, you are likely to want the funds as quickly as possible – lest the opportunity to buy the car you want at a price you may afford slips you buy.

So, speed is precisely what we aim to achieve. Through our streamlined, online application process, both you and your guarantor simply need to complete the relevant forms and we strive to get the agreed car loan to you within the next 24 hours.

Get in touch, we’re here to help

Monday to Friday (9am to 6pm), and Saturday to Sunday (9am to 5pm).
Email: carfinance@carfinanceplus.com
Telephone: 0330 043 0033 for car loans

We do not take applications over the phone. UK residents only. Calls may be monitored or recorded.