Car finance with a guarantor
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We’re a credit broker not a lender. Rates from 8.9% APR. Representative APR 11.9%
Representative Example: Borrowing £25,000 over 4 years with a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed) and a deposit of £5000.00 the amount payable would be £362.01 per month, with a total cost of credit of £7,376.69 and a total amount payable of £17,376.69. Based on 6,000 miles per annum, excess mileage charges will apply if this is exceeded. Finance subject to status 18+ only.
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What is Car finance with a guarantor?
Car finance is a common alternative to purchasing your next car outright and involves an agreement with a lender to pay over an agreed time period.
Car finance with a guarantor involves having a third party (the guarantor) co-sign the loan agreement, providing assurance to the lender that the loan will be repaid if the borrower defaults.
Your payments can depend upon what car you decide to purchase, how long you wish to purchase it over, whether you wish to own the car, and how much you wish to pay upfront.
Why Choose Car finance with a guarantor?
Here at Fast Easy Finance, we’re committed to transforming lives, quickly and with no hassle. With a dedication to excellence and a commitment to unparalleled customer satisfaction, here`s why you should choose us:
What is car finance with a guarantor?
-Car finance with a guarantor involves having a third party (the guarantor) co-sign the loan agreement, providing assurance to the lender that the loan will be repaid if the borrower defaults.
How does car finance with a guarantor work?
-In car finance with a guarantor, the guarantor agrees to take responsibility for repaying the loan if the borrower is unable to do so. This reduces the risk for the lender, potentially allowing the borrower to access better loan terms or higher loan amounts.
What are the benefits of car finance with a guarantor?
-Benefits of car finance with a guarantor include increased access to financing for individuals with limited credit history or adverse credit, potentially lower interest rates, and higher loan approval chances.
What are the drawbacks of car finance with a guarantor?
-Drawbacks of car finance with a guarantor may include putting strain on the relationship between the borrower and the guarantor, as the guarantor is legally obligated to repay the loan if the borrower defaults.
What are the different types of Car Finance?
We appreciate there are many different types of Car Finance products for you to choose from, and knowing which one meets your needs best is the key to happy financing. See a few of the different types below.
Hire Purchase (HP)
The loan is secured against the car, and you don't own it until you've reached the end of your agreement and paid the ’Purchase' fee.
A deposit may be needed but there would typically be no annual mileage restrictions.
Personal Contract Purchase (PCP)
The loan is secured against the car, but you don't own the car when the loan term ends.
Instead, you can choose to give it back, use any positive equity as a deposit in a new deal, or buy the car by paying the balloon payment.
Hire Purchase (HP)
The loan is secured against the car, and you don't own it until you've reached the end of your agreement and paid the ’Purchase' fee.
A deposit may be needed but there would typically be no annual mileage restrictions.