Guaranteed Car Finance UK
Getting Guaranteed Car Finance In The UK
Guaranteed car finance in the UK is a very common financial product that is offered by so many companies that they are just about falling over themselves in an attempt to gain your business.
It wasn’t always like this though. Trying to get car finance with bad credit used to be a minefield where ‘cowboy’ lenders would use underhand tactics to get people to sign up to finance agreements that had sky high interest rates while selling overpriced cars.
I have been there and experienced this process but I was fortunate enough to walk away before signing on the dotted line. The car was overpriced by around £1,500 and the actual quality and history of the car was more than questionable. But the car dealer was trying everything to get me to sign for finance agreement.
Thankfully those days are gone, although there are still some dubious cars and dealers out there looking to take advantage of you and sell you any car they can. But today there are so many different finance companies that are happy to give you credit, regardless of your credit history, that you can pick and choose. These companies know that they are not the only ones who you can get credit from for a car so they are always looking to offer the best deals that they can.
So what do you need to get guaranteed car finance?Well, actually the criteria is quite easy to meet. Usually you just need to be employed with computer printed wage slips, a UK resident and aged either 18 years or older. Some companies ask that you are aged21 years or older though.
The credit lender will then run a check to make sure you are who you say you are. This is part of a credit check which pretty much just checks your identity. The check also looks to see if you are currently bankrupt or are subject to an IVA. Some lenders will refuse you if you are an undischarged bankrupt or are subject to an IVA.
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