Guarantor Car Finance Loans

guarantor car finance loans

Guarantor car finance loans

One of the finance options we have at Socialmotors for people who have been refused car finance, is a guarantor car finance loan.

We are able to help people who have a poor or even bad credit past obtain finance for their new vehicle – Although in some cases the only option available to you is a guarantor loan.

If you have struggled to keep up repayments or have defaulted or even been declared bankrupt, you are going to have a hard time finding a company that will approve you. At Socialmotors we have lenders who are willing to consider applicants with these types of situation a loan with a guarantor.

A guarantor loan is where you have a friend or family member sign with you. With this type of loan you it is down to you to make the repayments, if you do not however, your guarantor will be liable and will have to repay the loan for you.

 

Guarantor car finance eligibility

If you have been in the UK for less than three years, your are not eligible for the standard types of finance – But you may be eligible for a guarantor loan, subject to status.

It is not essential that your guarantor be a homeowner although it would help if they were. Your guarantor does not have to be in employment but will have to provide evidence of their income.

We have thousands of vehicles to choose – from cars, bikes, vans, motorhomes and even horse boxes. We do not ask for a deposit although you are able to make a down payment if you like, we also accept part exchanges if you have no money for a deposit.

Application process

Make an application online

Apply now or call us, one of our experienced advisors will take some basic details for our lenders to review. If approved you will be offered a credit limit for your new car.

Choose your car

Once you have your credit limit, one of our advisors will assist you in choosing your new car from our showroom – we have over 1000 vehicles available in group stock, at this stage you will be able to discuss your needs and establish the car you want.

Documents and Delivery

We will now prepare your new car for delivery and get it to you usually within 48 hours, giving you a free 12 month comprehensive warranty & 12 months MOT. Once your car arrives, if your happy you sign your finance documents.

Application Criteria

Do you meet the hire purchase car finance application criteria?

To be eligable for car finance all you need is to…

  • Be aged 18 or over
  • Hold a full UK/EU driving licence
  • Be UK resident for 3 years
  • Have a Full time, part time job, be self-employed
  • Not bankrupt

Please note: if your income is 100% benefits you must be in receipt of a high rate benefit like DLA or PIP to apply for bad credit car finance.

What our customers think…

Scott Royle
Scott Royle
20:54 22 Feb 19
Really happy with my car and great service car delivered by a really nice bloke and everything felt very personal
Gayle Eaton
Gayle Eaton
12:33 01 Aug 17
Very good service very happy
kim summers
kim summers
13:30 13 Jun 19
Received my new car yesterday..... delivered all the way to Hull..... the gentleman who delivered it was very polite.....A big shout to David for all the hard work and patience finding me a nice car...... I am absolutely thrilled with it........ I would thoroughly recommend this company to anyone, David was very friendly and was helpful through the whole process from beginning to end and would hesitate to recommend this company to my family and friends, thank you 😊
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