Just as important as choosing the make and model of the car you want, is choosing the financing for that car. And choosing where you get your financing from is also important.
Many car dealerships offer their own financing, not that they themselves are a bank or lender, but they have partnered with a local bank, or the car manufacturer has their own financing company.
In some instances there may be incentives or offers of zero 0% financing, or a large cashback incentive that can be used as a deposit.
In the majority of these offers or reduced interest rates the buyer must have a high credit score, and very good to excellent credit.
Most of your local high street banks offer car financing, either in the form of HP/Hire Purchase, PCP/Personal Contract Purchase or just a personal loan to buy the car outright.
Again the question can be about credit score and your credit rating.
If you have no credit, or bad credit in the past, it may be difficult to be approved for a loan. In addition, with many of these forms of financing, such as HP, you will be required to have a deposit.
There are specific lenders online that specialise in car loans and car finance. Some have loans that are targeted and for people with poor credit. Some lenders may ask that you have someone guarantee the loan. These are guarantor loans, and credit is not an issue in being approved for this type of loan.
Buddy Loans grants loans for cars and the loan is based on affordability and having a good buddy guarantee the loan.
Buddy Loans is a direct lender £1000-£7500 +441618504141 Alexandra Court, Carrs Road, Cheadle, SK8 2JY rated stars by Trustpilot.com based on 1128 merchant reviews
Always helpful, reliable and will go out of there way for customers, never had an issue an this is my second loan with them Same great service each time!
Great Company, the communication from start to finish was great, my loan was quickly approved and I received the full amount within 48 hours. I highly recommend Buddy Loans to anyone looking for a guarantor Loan.
Great customer service
I dealt with 2 people mainly and they were soo helpful. Couldnt ask for better customer service.
Very helpful, everything was explained to me and I was asked if I understood each step. Good communication and all callers very friendly. The loan will take a lot of worry off my daughter and I was happy to be her guarantor.
I found them very polite and helpful, they quickly and efficiently sorted out my loan and kept me up to date with its progress. Daniel in applications was brilliant as was Paul in the underwriting team. Thoroughly recommend them!!
Prompt and fast payout
A very professional firm with very little paperwork involved all done and completed within a week. Faultless.
I was a guarantor
These were great. Polite, professional and had a genuine concern to ensure all was explained. I was the guarantor for a good friend and know these guys helped him so much.
Excellent friendly helpful service
Every person I spoke to was very friendly and helpful and they were very knowledgeable about their product would recommend to anyone looking for a loan
Amazing service and very easy and simple process
Amazing service and very easy and simple process. Thank you very much. Would highly recommend. Staff were great very friendly and very informative about everything
From the initial application online right through to the pay out team, brilliant! Easy online application followed by a prompt call back. The whole process was explained thoroughly by a friendly team. Can't thank Buddy enough!!
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Representative 49.9% APR.
Terms and Conditions apply. Suitable Guarantor required. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over.
Minimum period for repayment: 12 months | Maximum period for repayment: 60 months | Minimum APR 49.8% | Maximum APR 49.9%
Representative example: Amount of credit £3,250 for 36 months. Interest (fixed at 41.16%): £2,464.57. Total amount payable of £5,714.67. Representative 49.9% APR (Variable). 36 repayments of: £158.57.