Bad Credit Car Finance with No Guarantor

bad credit car finance no guarantor characters

Rates from 29.7% APR
40.9% Representative APR -
Subject to status and affordability

Here at Go Car Credit, we specialise in offering bad credit car finance with no guarantor to those who need a loan for their next vehicle.

Because we are specialists in bad credit car finance, our criteria is likely to be different from the direct lenders who may have declined your car loan application as they were looking to add a guarantor to the application.

Many of our customers may have been refused car finance by other lenders due to being on benefits, self-employed, may not have the money to put down a deposit or simply just have a poor credit history, so their applications are not considered from the start.

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Representative example – Total amount of credit £9,000, annual interest rate 21.75% (fixed), charge for credit £10,092.32 (£9,787.32 interest, £295 admin fee and £10 option to purchase fee), total amount payable £19,092.32. Loan term of 60 monthly instalments, 59 payments of £318.04 and 1 final instalment of £328.04. 40.9% Representative APR – Subject to status and affordability

What is a guarantor?

A guarantor is someone who will be liable for paying the rest of the car loan off if you fail to make the monthly repayments.

This is a common option for those with bad credit who need car finance, as a guarantor is more likely to get approved if they have a better credit file than the person they are acting as the guarantor for.

Can I get no guarantor car finance if I have bad credit?

Yes, we offer car finance with no guarantor, as long as you can safely afford to make the monthly repayments, and pass our specialist bad credit lending criteria.

We do not offer car finance with a guarantor, because this allows us to focus on helping those who have bad credit, and may not be able to get a loan due to not having anyone to act as a guarantor for them.

We do however offer joint car finance for those who do fall short of our lending criteria. Having a joint applicant on your car loan agreement is different to having a guarantor, as you will be both be equally liable for the full repayment of the loan.

Why would I need a joint applicant for my car finance application?

We will only ask for a joint applicant if you do not meet some of our eligibility requirements for us to give you a car finance agreement. Your income may be too low, and having a joint applicant means we will take both of your incomes into consideration. Alternatively, you could be self-employed, but your earnings go into the bank account of your joint partner’s name.

Your joint applicant must live at the same address as you and will equally share the liability and responsibility of the car loan and making the monthly repayments on time. Having a joint applicant on your car finance agreement does not mean that the loan payments and commitment is split 50/50, you must both make sure the required amount is being paid off on time every month for it not to adversely affect both your credit profiles.

What is the criteria for getting car finance without a guarantor?

Our car finance eligibility criteria is also based on your personal circumstances, the car you choose and the amount you wish to borrow.

  • Aged 25 or over.
  • Lived in the UK for 3 years or more.
  • Have £1500 income or more going into a bank account with your name on unless you are self-employed and your income goes into your joint applicant’s named bank account, or you have a low income and provide a joint applicant.
  • Have a full driving licence, except if you are looking for an automatic car on finance, then you will only need an automatic licence.
  • Not in an active bankruptcy,IVA or debt relief order, we do consider County Court Judgements.
  • The maximum lend amount we can offer is £15,000 (subject to affordability)
  • The maximum agreement length we can provide is 5 years / 60 months
  • The vehicle you choose must not be older than 9 years at the beginning of the agreement (36 months)
  • Max mileage of 110,000 at the start of a 36-month agreement.
  • Max mileage of 100,000 at the start of a 48-month agreement.
  • Max mileage of 90,000 at the start of a 48+ month agreement.

Why Choose Go Car Credit?

  • Reviews: Take a look at our independent Trustpilot reviews to see how we have helped our customers when other lenders would have said no to car finance for them.
  • Direct Lender: We have our own dedicated in house sales and underwriting teams to give you full support if you need it throughout the car finance process.
  • Application Tracker: Once you apply you will receive a custom link to your application tracker, there is no need to create an account or download any phone apps to keep up to date with the progress of your car finance application.
  • Ethical and Responsible: We will only approve your application if you can safely afford the monthly repayments and for your peace of mind we are regulated by the Financial Conduct Authority (FCA).

What happens after I apply for car finance?

  • Decision: Our underwriting team will review your application and set a credit limit for your vehicle. You can use your online application tracker to see their decision as soon as it is made.
  • Choose Car: Our FCA regulated dealers will help to find your ideal car that suits your affordability and your personal preference.
  • E-Sign: You can now sign your car finance paperwork online to speed up the final process.
  • Drive: You can now enjoy your new car, whether you collect your car from the dealership or choose to have it delivered.
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