How car finance works


Get car finance

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


Choose your car

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


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.

We compare car finance deals for you

  • Moneybarn logo
  • Advantage logo
  • PCF Bank logo
  • Oodle logo
  • Paragon logo
  • Marsh logo

Car finance with no guarantor

One of the ways car finance is possible is where customers can borrow up to £20,000 by having a guarantor. A guarantor is someone you know very well and who has better credit score than you do and who will guarantee that they will keep up with the car loan repayments if you can’t.

This way they take responsibility that is there are issues with monthly payments, the lender might ask them to repay the car finance.

But what if you do not have the guarantor? This is where Carplus can help – we have access to more than 20 car finance lenders and we can find you a better deal without a guarantor and even if you had bad credit. Use our online car finance quote tool to see if you will get approved. This doesn’t impact your credit score.

What is the difference between joint applicant and a guarantor?

A joint applicant will apply for car finance along with you and will be part of the application. That means they will co-sign the car finance agreement. The responsibility of making monthly payments is on both applicants. Lenders would only ask for a joint applicant if you do not meet some of their eligibility requirements.

Guarantor lenders allows to help you even if you don't have good credit score, as long as you can afford the monthly repayments and have a guarantor on the loan. In other words, the guarantor agrees that they will step in if you fail to keep up with your monthly repayments. Most guarantors are family members. Many customer in search of a car loan with bad credit will apply for a guarantor loan. Good news is that lenders on our panel are happy to accommodate customers without a guarantor.

What’s the criteria for getting car finance without a guarantor?

Our car finance eligibility criteria is based on your personal circumstances, the car you choose and the amount you decide to borrow.

  • Aged between 21 and 75 years;
  • Lived in the UK for more than 3 years;
  • Have £1000 income or more going into a bank account;
  • Have full or provisional driving license;
  • The maximum lend amount we can offer is £20,000 (subject to affordability);
  • The maximum agreement length we can provide is 48 months;

Bad credit options

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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).