Flexible Payments, Broader Eligibility, and More Support—Find Out the Benefits of Guarantor Car Finance Today!
Guarantor car finance is your ticket to car ownership, whatever your credit history. A guarantor car loan is our way of helping those unable to apply for regular car financing due to a poor credit rating or financial uncertainty. With this car loan type, a trustworthy friend or family member (preferably someone with good credit history) “guarantees” your loan—they undertake responsibility for your repayments if you cannot.
This extra layer of security reassures lenders, which enables them to offer finance to a wider range of applicants. In return, guarantor car finance presents the perfect opportunity for those needing to improve their financial position while still requiring wheels!
If you’re looking for a new ride but your credit rating is an obstacle, look no further than our exclusive guarantor car finance options. A guarantor car loan is the perfect solution to your problem. Here’s why:
Just like other common car finance types, a guarantor loan comes with fixed monthly repayments you can count on. Before you sign up, you’ll be able to select an agreement that offers affordable monthly instalments within your budget. And don’t forget: paying them on time will help build your credit rating for the future, too!
Poor or limited credit history can make it harder to access low interest rates with a standard loan. But don’t panic! A CarFinanceToday guarantor car finance agreement reassures lenders, meaning you may be able to access more affordable rates regardless. Win-win!
We work with leading car finance lenders. That means when you apply for guarantor car finance through us, you’ll still have access to flexible terms despite having no or poor credit. In many cases, you’ll still be able to choose between buying the car outright over the course of a loan term (Hire Purchase), or paying less each month and deciding on a balloon payment at the end (Personal Contract Purchase)!
If you’re in a stable financial situation and have a stronger credit rating, another loan type might give you more control over your terms. For example, Hire Purchase (HP) or Personal Contract Purchase (PCP) financing may give you better interest rates and more choice in terms of loan amount.
Want to skip the deposit? In many cases, buyers with a good credit rating and stable finances can apply for a handy No Deposit car finance agreement. What does that do? Exactly what it says on the tin: pay nothing upfront and spread the extra cost over monthly payments instead!
Negative equity—when you owe more on your loan than your car’s worth—can be an obstacle when securing other loans. But don’t worry: at CarFinanceToday, we have solutions for every occasion! Try our Negative Equity car finance agreements to roll your loan over to a brand new car loan and drive away with a new vehicle!
Want to see how much your monthly repayments will be and start budgeting accordingly? Our free car finance calculator makes it super simple. Just enter your details and get an estimate in seconds!
Head of Content and Conversion
Many people think that having poor or limited credit history makes car finance impossible—let alone car ownership. We’re here to show you that’s not the case. Whatever your credit history, we can help you secure car finance that works for you. And in many cases, a Guarantor agreement comes with the same end-of-term flexibility as other car finance deals. That means at the end of your agreement, you could have the option to:
If you (or your car finance guarantor) has made all the monthly loan payments, you may be able to buy the vehicle outright. In a PCP-style loan, that will involve paying a larger final balloon payment. Either way, poor credit doesn’t have to mean saying goodbye to car financing!
Don’t want to buy the car outright? No problem. Depending on the terms of your agreement, you may have the option to trade the car in for a newer model—and even a new car loan—at the end of your loan term. Enjoy state-of-the-art car models, whatever your credit history.
If neither of the above work for you, why not return the car instead? Even if you choose to return the car to the dealership, we at CarFinanceToday are always ready to help you with future car finance loans should you need them!
Even with poor credit, applying for car finance is easy with CarFinanceToday. We’ve got car finance down to a fine art. Simply follow the steps below to access world-class car finance deals and drive away with the car of your dreams—even with poor credit.
Once you’ve applied for car guarantor finance through us, we’ll work with our network of reputable lenders to gain pre-approval.
The applicant will need to be a minimum of 18 years of age, with at least three years UK address history.
The guarantor will preferably have an excellent credit history, with a good and stable financial background.
To provide pre-approval, we use a soft credit check. This doesn’t impact your credit rating because it isn’t intrusive; this means complete transparency.
Although having a guarantor will reduce the strictness of the credit score requirement, lenders will still take into consideration an applicant’s income, their time in employment, along with their debt-to-income ratio.
Whatever your level of credit, good or bad, we make buying a car an easy and trouble-free process with our tailored support and ability to search for the best deals.
We aim to make car ownership available for everyone. Guarantor car finance is ideal for people rebuilding their credit or starting to build their financial history.
Whether you need a car for commuting or you just want a car that you’ve always admired, we will be looking for the best deal for you. If you have poor credit history, then better options might be opened to you with guarantor financing.
If you choose us, you will be given a dedicated account manager who will guide you throughout the whole process - they'll make this experience simple and seamless for you.
In such cases, the guarantor will be approached to pay on your behalf. Regular communication is essential to avoid complications.
Yes, you can, but there might be early termination fees levied, depending upon the conditions in your contract.
No, the guarantor compensates for poor or limited credit history.
It depends on the lender’s terms. For the most part, you cannot change your guarantor during the period of the agreement.
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