Guaranteed Car Finance
Guaranteed Car Finance is a product that many people look for when applying for car loans or car finance. This is especially common when somebody has a bad credit rating. The truth is that the product guaranteed car finance does not actually exist. There are many lenders who will provide finance to customers with poor credit ratings, but they will never guarantee to provide anyone with a loan.
The reason that most people search for guaranteed finance is because they know their credit rating is poor. People in this situation might start to become anxious when they are rejected for finance. This is the point when generally someone needs advice about applying for finance. This is where using a specialist company will be beneficial as they will have the knowledge to guide you through the process of applying for finance.
When looking for guaranteed car finance you need to aware that the loan offer you receive is likely to have a high APR level. All lenders will check you credit file before providing you with a loan offer. If you have issues on you credit file, you are likely to be considered a higher risk to lend to, and therefore the amount you pay back will be more as the lender is taking a higher risk by lending money to you in the first place.
The term guaranteed finance is often used with car finance as when buying a car, car finance (also known as hire purchase) is the easiest type of loan to obtain. The reason for this is because the loan is secured against the vehicle. Even though you become the owner of the vehicle when you start the loan, the car can still be reclaimed by the lender if you do not make the monthly agreed payments.
The reason that most people search for guaranteed finance is because they know their credit rating is poor. People in this situation might start to become anxious when they are rejected for finance. This is the point when generally someone needs advice about applying for finance. This is where using a specialist company will be beneficial as they will have the knowledge to guide you through the process of applying for finance.
When looking for guaranteed car finance you need to aware that the loan offer you receive is likely to have a high APR level. All lenders will check you credit file before providing you with a loan offer. If you have issues on you credit file, you are likely to be considered a higher risk to lend to, and therefore the amount you pay back will be more as the lender is taking a higher risk by lending money to you in the first place.
The term guaranteed finance is often used with car finance as when buying a car, car finance (also known as hire purchase) is the easiest type of loan to obtain. The reason for this is because the loan is secured against the vehicle. Even though you become the owner of the vehicle when you start the loan, the car can still be reclaimed by the lender if you do not make the monthly agreed payments.