How car finance works

1.

Get car finance

Get a no deposit car finance approved without affecting your credit score.

2.

Choose your car

Choose any car from any reputable dealer and we will finance it for you.

3.

Delivery or collection

Collect or get the car delivered to you with a 14 day return guarantee.

Car finance calculator for bad credit

Good credit
Bad credit
Amount to borrow:
£
To repay over:
5 Years
Car finance rate XX% APR
Cost of credit £ XXX
Total repayment £ XX,XX.XX
48 monthly payments of
£ 245 /mo

Representative example - Borrowing £5,500 over 4 years with a representative APR of 19.8%, and a deposit of £0, the amount payable would be £162 per month, with a total cost of credit of £2,282 and a total amount payable of £7,782.

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There are many ways to receive money when buying a car, for example, car finance with no guarantor, which will partially or completely cover the cost of your purchase. A loan can also be based on your salary, an inheritance, or a dividend income.

A guarantor is a person who has a better credit score and who can vouch for you to the bank. If your credit history leaves something to be desired, you may well need a guarantor.

What can you do if your social circle does not include such a person? Carplus will come to the rescue! We have more than 20 car finance lender contacts and are ready to help. Please note that checking your chance of approval has no impact on your credit score.

How does car finance without a guarantor work?

No guarantor car finance is not that complex. You fill in the application form on the site, and we start to process your inquiry immediately. We aim to perform service quickly for every customer. Our specialists are always ready to get back to you if you have any questions. We will choose the right lender, even if you have a bad credit history. Be confident in our steadfast focus on your deal’s successful outcome.

What is the difference between a joint applicant and a guarantor?

A joint applicant will share your car finance with you. They take part in the signing of the agreement. As a result, the responsibility lies with both you and them. More often than not, lenders resort to such lending conditions if their requirements do not coincide with some of your characteristics.

In turn, guarantor lenders are interested only in receiving regular payments. If a person is looking for a car loan for bad credit with no guarantor, such an option exists. We are in contact with lenders who work with customers without a guarantor with the highest level of professionalism.

Can I get car finance with bad credit and no guarantor?

Yes, this is possible, but the chances of approval and lending conditions may differ. For example, if you are looking for car finance without a guarantor and have a poor history or if you’re a little older, you can face more difficulties.

However, even with a bad credit history, you can get a car loan, but you need to confirm your ability to make the monthly payments. This condition does not give complete confidence of approval, so you can always contact our experts. Our team will perform a custom search, which will not harm your credit rating.

If the search is successful, we will get in touch with the lending partner who is suitable for you. Before we perform a loan search, we will ask for your informed consent.

What are the criteria for getting car finance without a guarantor?

Some criteria help your eligibility:

  • Aged between 21 and 75 years;
  • The age of the car is less than nine years at the time of the conclusion of the agreement
  • Mileage of the car is less than 100,000 miles
  • You have lived in the UK for at least three years
  • You have an income of over 1000 pounds per month. Your account must be registered in your name. The last requirement is not taken into account if you are self-employed and funds come to the account, registered in the name of your joint applicant. The same applies to persons with a low income.
  • You have a full or provisional drivers license.
  • You are not in the process of active bankruptcy or debt relief
  • The maximum duration of the agreement is 48 months.

Most of the points could also be applied for students and other young adults. Our offer is limited to 10 thousand pounds.

Why apply for finance with carplus?

Independent feedback: see for yourself by reading the testimonials of customers we helped find a solution for car finance with bad credit and no guarantor.

Directivity: Our team consists of professionals with extensive experience who are always ready to support you in obtaining a loan

The ability to track: We provide a personal reference to the application tracker. Follow the progress of your application online!

Ethics above all: our activities are regulated by the Financial Conduct Authority. We also only issue approval if it is safe for you regarding the availability of monthly payments.

FAQ

Can an 18-year-old get car finance without a guarantor?

After a person turns 18, they may be eligible to apply for car finance. Nevertheless, the lack of credit history can play a role. Their chances can be increased by the presence of permanent income and employment.

Do I have to pay a deposit when applying for the no guarantor option?

The answer to this question depends on the lender. Not all lenders require a deposit. However, you can contribute part of the amount to reduce your financial burden.

Do I get guaranteed car finance without a guarantor if I have a good credit score?

Bad credit car finance with no guarantor may be less successful than a guarantor option. At the same time, there is no 100% certainty of approval, even if there is a guarantor. We hasten to assure you that our specialists will do everything so that your application is successful.

Do you do a credit check with a no guarantor option?

The procedure is not quite a “no credit check”. Therefore, yes, we do a soft credit check. This means that we check the possibility of obtaining a car loan using our tools. Your credit score is not affected in any way.

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Questions? Speak to a real person

Comparing car finance and car warranties is what we do, so you will get through to someone who can help. Call us from Monday to Friday (8am - 8pm) and Saturday to Sunday (9am - 6pm).