Guaranteed car finance
We can’t guarantee that your car finance application will get accepted but we have helped thousands of people in your situation in the past. No car loan is ever guaranteed and there are always criteria’s that you must meet in order to satisfy the lender’s requirements. Even if you’ve been declined in the past, another lender may have a slightly different criteria, improving your chances of being successful.
However, you will have greatly improved your chances of being accepted for car finance if you made payments on time for the duration of your bankruptcy. CarFinance Plus works with hundreds of lenders to improve your chances of being accepted for a car finance loan.
Will a deposit increase my chances of being accepted?
Yes. Ultimately, the lender wants to know that you can pay installments on time and how risky it would be lending to you. Having a lump sum deposit lowers the risk for the lender and thus increases your chances of having your car loan application accepted. You can also use your old car as a part exchange and many people choose this option as it saves on the hassle of trying to find somebody to buy your car independently.
Having a deposit or part exchange vehicle will also lower the monthly installments payable, making them easier to handle and decreasing the chances of you missing a payment.
Other companies offer guaranteed car finance, why can’t you?
No company in the UK can currently offer guaranteed car finance, despite what they may tell you. Lets think about this logically for a second. A company that could truly offer guaranteed car finance would go into administration pretty fast.
To guarantee car finance to everybody, lenders would have to approve the unemployed, elderly and those who are very recently bankrupt (it’s illegal to obtain credit within 12 months of filing for bankruptcy), those already dealing with a large amount of debt, under-aged and illegal drivers. Guaranteed car finance is a marketing ploy where a percentage will be accepted but others would find it nearly impossible.
We consider all financial circumstances, such as whether you are employed or self-employed and whether you have a good credit history or need bad credit car loan. We can even help if you have been refused by a previous car loan company.
Use our calculator to get an indication of how much you could borrow. We don’t require a deposit as we have 0 car finance deals available.
If you’re looking for a loan and have a friend or family member to support your application, please see our Guarantor Car Finance section. You could get a personal guarantor loan up to £10,000 and have it paid out within 24 hours.
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.