With a decent job, one can avail guaranteed car loans, despite bad credit standing or no credit. The purchase of both used cars and new cars have become difficult with the rise in the cost of buying them. In this context, car financing loans become inevitable. So, many companies now, offer guaranteed car loans to their customers, to aid them to buy a car, new or used.
New car loans and used car loans are available easily for those who have a good credit record, no debts and a substantial income. On the other hand for the people with poor credit record or no credit, bankruptcies, etc, the options for getting new car loans or even used car loans, is a distant possibility.
Guaranteed car loans are offered to anyone with a home, job and down payment. This kind of auto loan is available all over UK and America. The dealership and finance companies take the risk upon themselves of providing guaranteed financing. Banks and lenders are hesitant to offer such loans or even if they offer, they tend to levy high interest rates on the customers.
Address proof or proof of residency, a decent job and a modest amount as down payment can land any person a guaranteed car loan. The duration of the guaranteed car loans depend on the purchased vehicle’s cost and the amount paid as down payment.
Auto loan of this sort eliminates the problems caused by high interest auto loans. Guaranteed auto loans are affordable, when compared to other car financing loans that are available from banks and lenders.
Switching cars or buying a new car during the course of the guaranteed car loan can be done, with an understanding with the dealers. Many dealerships allow the customers to buy a new car and trade the used one, provided the customer has a good repayment and credit record. This flexibility makes guaranteed car loans very popular among car financing loans.
Potential buyers of a car can seek the help of the online sites to choose reputed institutions and dealership that offers guaranteed car loans. Websites that help a person to apply for an auto loan are instantly available, online. Posting of information regarding a person’s name, phone number, address and necessary details can be the first step in availing an auto loan.
Irrespective of the loans being new car loans or used car loans, one can apply for guaranteed car finance. The representatives from the concern to which a person has send an application for guaranteed finance loan; will contact the person within a day.
For guaranteed car loans, the dealership or companies will insist on an identity proof, social security card, bank statements, down payment, etc. Customers are asked to promptly pay the payments, according to the time stated by the company or dealership. Some companies insist on cash payments.
Insurance on the car is a wise option for people, who opt for guaranteed auto loans. Guaranteed financing provides a respite for people, struggling with bad credits. Poor credits are no more a hindrance for availing a car loan. Guaranteed car loans afford the luxury of flaunting a new car despite unstable credit record.