Assuming your credit profile is
|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.
Carplus will find the best car loan rate from our panel of lenders and will offer you the best possible deal. We don’t charge fees, but we earn a commission. This does not influence the APR you’re offered in any way.
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.
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.
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.
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.
Some criteria help your eligibility:
Most of the points could also be applied for students and other young adults. Our offer is limited to 10 thousand pounds.
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.
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.
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.
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.
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.