Looking to purchase a car but not finding it easy to get credit on your own? A guarantor loan may be the answer. And if you are effectively paying cash, you may get a better price by shopping around at sites such as Autotrader!
A guarantor loan is much like a personal loan, but you aren’t on your own. You’ll need a guarantor – someone who can step in and make repayments if you can’t.
If you have poor credit or don’t have a credit rating, a guarantor loan with 1Plus1 may be the answer.
Can I finance a car purchase with a guarantor loan? In short, yes. It gives you cash to spend with the car dealer, that may enable you to negotiate a discount or get a better model.
Young drivers or those applying for finance for the first time, may find it easier to realise the car of their dreams.
If you are buying a car for the first time or trading up, you should remember to factor in the running costs and work out your budget. Check out the reviews of cars to help you decide. Nobody wants a lemon!
Keeping your repayments up may even end up improving your credit score.
Here at 1Plus1 guarantor loans we will consider applicants who meet our affordability criteria, with less than perfect credit, providing a guarantor can be provided who also meets our affordability and credit worthiness criteria. We complete credit checks on both the applicant and guarantor.
If you think you may be interested in a 1Plus1 Loan, please give us a call on 0330 1200 313 and one of our friendly staff will be more than happy to discuss the process with you, or start your application here.