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Guaranteed car finance

Guaranteed car finance

What is guaranteed car finance?

Guaranteed car finance doesn’t exist. Nor does guaranteed car finance for bad credit, guaranteed car finance with no credit check or guaranteed car finance on benefits. In fact, it’s a topic discussed by many in the car finance industry. It’s often widely promoted, however, it’s important to know that a legitimate lender will never try to sell you guaranteed car finance of any form.

Think of it like this, you can never have a product that truly suits everyone and their individual circumstances, as we are all too different, and car finance is no exception. There is no one size fits all when it comes to car finance, and therefore there is no such thing as guaranteed car finance. Everyone’s circumstances are different and any responsible lender will consider these before offering anyone car finance. It’s our duty as finance providers to offer customers loans that they can afford.

So if you ever see ‘guaranteed car finance’ quoted on a car finance provider’s website, then you should act with caution. Picking a reputable car finance company is important, so don’t rush your decision. Also, make sure you understand how car finance works before you consider making an application.

Can I get guaranteed car finance for bad credit?

Lenders will have the final say over whether someone is approved for car finance, and a responsible lender will never say that their car finance is guaranteed. Decisions of whether you’d be approved are based around factors like credit score and affordability.

Whether you have an IVA, CCJ or bad credit, you won’t be able to apply for guaranteed car finance because it doesn’t exist. Car finance will only be offered once the appropriate checks have been done on an application. Only after these checks have been completed will car finance be offered. You should be wary of anyone claiming to offer bad credit car loans with guaranteed approval.

It would be unethical of us, or any lender, to lend money to someone who can’t repay it. This could leave them in a worse financial situation than they were before applying. That is why the Consumer Credit (Advertisements) Regulations 2010 protects customers from false or misleading claims like ‘guaranteed car finance’.

If you are looking for bad credit car finance, a specialist lender like Moneybarn may be able to help.

Do you offer guarantor car finance?

Guarantor car finance is very different to guaranteed car finance, and the two should never be confused, but it can easily be done.

If you have poor or little credit history, guarantor car finance can be a great way to organise finance for a car. A guarantor car loan, simply put, is where you ask a third party, usually a family member or friend to be a guarantor on your car finance. This means they will guarantee the repayment of your loan in case you miss or default on any payments. In most cases, spouses or others who are directly financially connected to you cannot be your guarantor.

Your guarantor will also have to meet eligibility and affordability requirements. Whether you are looking for a guarantor loan for yourself, or whether you are being asked to be a guarantor, it’s important to know that a guarantor is taking on a significant financial responsibility. One where they’ll be required to make car finance repayments if you fail to do so.

Unfortunately, we don’t offer guarantor car finance at Moneybarn, but we still might be able to help you with car finance. Although we don’t offer guarantor car loans, we do specialise in bad credit car finance.

Most car finance companies will only conduct a soft search on you from your initial application. This means it won’t affect your credit score unlike a full credit search. Finance companies will then do a full search on you before you have signed the agreement and they have paid the money to the dealership.

Improve your credit score

We don’t only want to help you get car finance if you have bad credit. We want to help you improve your credit score and get you onto a better road ahead, both in your new car and financially.

Everyone can better their credit score, it doesn’t just apply to people with bad credit. So whatever your credit score is at the moment, it’s always a good idea to learn what affects your credit score and what a good credit score is.

We aren’t financial advisors and therefore can’t tell you what your credit score currently is. However there are companies like Experian and Clearscore who allow you access to see your credit score, whilst also giving advice on how to improve your credit score and move away from bad credit.

If you’d like to learn more then we’d recommend you check out our bad credit explained guide.

What is guaranteed car finance?

Guaranteed car finance doesn’t exist. Nor does guaranteed car finance for bad credit, guaranteed car finance with no credit check or guaranteed car finance on benefits. In fact, it’s a topic discussed by many in the car finance industry. It’s often widely promoted, however, it’s important to know that a legitimate lender will never try to sell you guaranteed car finance of any form.

Think of it like this, you can never have a product that truly suits everyone and their individual circumstances, as we are all too different, and car finance is no exception. There is no one size fits all when it comes to car finance, and therefore there is no such thing as guaranteed car finance. Everyone’s circumstances are different and any responsible lender will consider these before offering anyone car finance. It’s our duty as finance providers to offer customers loans that they can afford.

So if you ever see ‘guaranteed car finance’ quoted on a car finance provider’s website, then you should act with caution. Picking a reputable car finance company is important, so don’t rush your decision. Also, make sure you understand how car finance works before you consider making an application.

Can I get guaranteed car finance for bad credit?

Lenders will have the final say over whether someone is approved for car finance, and a responsible lender will never say that their car finance is guaranteed. Decisions of whether you’d be approved are based around factors like credit score and affordability.

Whether you have an IVA, CCJ or bad credit, you won’t be able to apply for guaranteed car finance because it doesn’t exist. Car finance will only be offered once the appropriate checks have been done on an application. Only after these checks have been completed will car finance be offered. You should be wary of anyone claiming to offer bad credit car loans with guaranteed approval.

It would be unethical of us, or any lender, to lend money to someone who can’t repay it. This could leave them in a worse financial situation than they were before applying. That is why the Consumer Credit (Advertisements) Regulations 2010 protects customers from false or misleading claims like ‘guaranteed car finance’.

If you are looking for bad credit car finance, a specialist lender like Moneybarn may be able to help.

Do you offer guarantor car finance?

Guarantor car finance is very different to guaranteed car finance, and the two should never be confused, but it can easily be done.

If you have poor or little credit history, guarantor car finance can be a great way to organise finance for a car. A guarantor car loan, simply put, is where you ask a third party, usually a family member or friend to be a guarantor on your car finance. This means they will guarantee the repayment of your loan in case you miss or default on any payments. In most cases, spouses or others who are directly financially connected to you cannot be your guarantor.

Your guarantor will also have to meet eligibility and affordability requirements. Whether you are looking for a guarantor loan for yourself, or whether you are being asked to be a guarantor, it’s important to know that a guarantor is taking on a significant financial responsibility. One where they’ll be required to make car finance repayments if you fail to do so.

Unfortunately, we don’t offer guarantor car finance at Moneybarn, but we still might be able to help you with car finance. Although we don’t offer guarantor car loans, we do specialise in bad credit car finance.

Most car finance companies will only conduct a soft search on you from your initial application. This means it won’t affect your credit score unlike a full credit search. Finance companies will then do a full search on you before you have signed the agreement and they have paid the money to the dealership.

Improve your credit score

We don’t only want to help you get car finance if you have bad credit. We want to help you improve your credit score and get you onto a better road ahead, both in your new car and financially.

Everyone can better their credit score, it doesn’t just apply to people with bad credit. So whatever your credit score is at the moment, it’s always a good idea to learn what affects your credit score and what a good credit score is.

We aren’t financial advisors and therefore can’t tell you what your credit score currently is. However there are companies like Experian and Clearscore who allow you access to see your credit score, whilst also giving advice on how to improve your credit score and move away from bad credit.

If you’d like to learn more then we’d recommend you check out our bad credit explained guide.

Guaranteed car finance questions

Guaranteed car finance garages do not exist. This is because any legitimate vehicle finance provider or garage will not ever be able to guarantee you car finance. There are many checks that every car finance applicant has to go through before they can be offered car finance.

However, not all garages are trying to sell you a fake promise, there are many reputable dealers and garages around the UK. Find finance near you today.

No responsible lender will guarantee that you can get no deposit car finance. Your eligibility to get finance depends on many personal factors, such as affordability and your credit file. Everyone’s circumstances are different, which is why you may be asked to put down a deposit for finance.

Whether you have an IVA, bad credit or even great credit, you cannot apply for guaranteed car finance because it doesn’t exist. Car finance will only be offered once the appropriate checks have been done on the applicant. Only after these checks have been completed will vehicle finance be offered.

If you do have an IVA however, we do specialise in offering bad credit car finance to people in an IVA or with a CCJ.

As dealers and brokers have no control over whether someone is approved for car finance, they cannot say if you will be guaranteed car finance.

Lenders have the final say over whether someone is approved for car finance, and they will never say that it is guaranteed. Decisions of whether a person is approved are based around a series of variables like credit score, affordability and many more.

It would be unethical of us, or any lender, to be lending money to people who cannot repay it. This could leave them in a worse financial situation than they were before applying.

100% acceptance car finance and 100% guaranteed car finance are the same claim, but both are misleading as they don’t exist. No lender can guarantee you car finance. Everybody has different circumstances, and your eligibility for car finance will not be the same as someone else.

Guaranteed car finance questions

Guaranteed car finance garages do not exist. This is because any legitimate vehicle finance provider or garage will not ever be able to guarantee you car finance. There are many checks that every car finance applicant has to go through before they can be offered car finance.

However, not all garages are trying to sell you a fake promise, there are many reputable dealers and garages around the UK. Find finance near you today.

No responsible lender will guarantee that you can get no deposit car finance. Your eligibility to get finance depends on many personal factors, such as affordability and your credit file. Everyone’s circumstances are different, which is why you may be asked to put down a deposit for finance.

Whether you have an IVA, bad credit or even great credit, you cannot apply for guaranteed car finance because it doesn’t exist. Car finance will only be offered once the appropriate checks have been done on the applicant. Only after these checks have been completed will vehicle finance be offered.

If you do have an IVA however, we do specialise in offering bad credit car finance to people in an IVA or with a CCJ.

As dealers and brokers have no control over whether someone is approved for car finance, they cannot say if you will be guaranteed car finance.

Lenders have the final say over whether someone is approved for car finance, and they will never say that it is guaranteed. Decisions of whether a person is approved are based around a series of variables like credit score, affordability and many more.

It would be unethical of us, or any lender, to be lending money to people who cannot repay it. This could leave them in a worse financial situation than they were before applying.

100% acceptance car finance and 100% guaranteed car finance are the same claim, but both are misleading and they don’t exist. No lender can guarantee you car finance. Everybody has different circumstances, and your eligibility for car finance will not be the same as someone else.

How it works

We’ve supported thousands of people with vehicle finance for many years. See our page which explains what you need to know about our vehicle finance.

How it works

Being self-employed

We consider applications even if you’re self-employed and have bad credit so we might be able to offer you finance even if other lenders have rejected your application.

Self-employed vehicle finance

Our application process

It is important to completely understand the car finance agreement that you may be entering – find out more about how a conditional sale agreement works.

Our application process

For a better road ahead

Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses.

Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573, and Moneybarn Limited, a company registered in England and Wales with company number 02766324. The registered address for these companies is: Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.

Moneybarn’s VAT registration number is 180 5559 52.

Moneybarn Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702781)

Moneybarn No. 1 Limited  is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702780)

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© Copyright 2023 Moneybarn Limited
© Copyright 2023 Moneybarn Limited

Representative example: Total amount of credit £10,451. Repayable over 58 months, 57 monthly payments of £341.17. Representative 33.5% APR (fixed). Deposit of £929.41. Total charge for credit £8,995.69. Total amount payable £20,376.10. Subject to status and affordability. You could risk losing your vehicle if you do not keep up payments.