Choosing a Car Finance Company

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.

The Dealership

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.

Car Finance

Car Finance

Local Banks

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.

  • You can be approved and the money in your account within 24 hours.
  • You can choose the car of your choice.
  • You can buy the car like a cash buyer.
  • You own the car outright.
Car Finance

Buddy Loans is a direct lender rated 5/5 stars by based on 1128 merchant reviews



from 0 to 10

Representative Example


36 months

£158.57 p/m

Total Repayable

Interest Rate
41.16% (fixed)

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.