Trusted UK Guarantor Loans Broker
Guarantor Personal Loans
A guarantor loan is when someone else vouches for the person taking out a personal loan by promising to take over repayments of the loan should the borrower become unable to pay. This provides extra security to the lender as it makes it a less risky loan.
As with a regular personal loan, the lender provides the loan facility, but not the vehicle. The customer purchases the vehicle directly from the dealership, using the loan amount borrowed. Unlike other finance agreements, the customer immediately takes title/ownership of the vehicle. When a customer signs a personal loan agreement, they agree to make regular payments to the lender, until the amount borrowed, plus interest, is repaid in full.
As the customer has title to the vehicle, there are no mileage or usage restrictions on the vehicle that is financed. The agreement can be ended at any time by settling all outstanding balances on the agreement and paying any necessary fees. In most cases, any surplus interest will be rebated to the customer by the finance company. If the Consumer Credit Act regulates the agreement, the minimum amount to be repaid is stipulated by the Finance and Leasing Association.
What Are the Benefits of a Guarantor Loan?
The main advantage of a guarantor loan is that if you have a guarantor for any money you borrow, there is a higher chance of a successful loan application. Having the backing of a guarantor also makes it more likely that the lender will loan a larger amount. A guarantor loan allows those with poor credit history to add security to their repayments and so are a great option for those with bad credit.
Simply call us today on 01482 425300 or fill in our online finance application and let us help you get the vehicle you deserve!
Good & Bad Credit Finance
At Forward Motor Finance, we cater to customers with both good and bad credit histories. Our experienced team works to find the best finance deals tailored to your unique circumstances. Whether you have an excellent credit score or have faced credit challenges, we are committed to helping you secure the finance you need. Apply now and let us assist you in finding the perfect finance solution, no matter your credit history.
Why Choose Us?
All Credit Histories
Forward Motor Finance specialise in helping all credit histories including customers who have been declined previously elsewhere, have a poor credit or bad credit score. If you have a good credit, poor credit, or bad credit history, click on the apply now tab and complete the easy-to-use application form.
Choose Any Vehicle
The choice is yours because you can choose to buy a motor vehicle from any reputable motor retailer providing they are licensed to offer regulated motor finance products. Alternatively we can recommend a reputable motor retailer from our approved motor dealer network, or we can source a motor vehicle for you to meet your specifications.
Finance For You
Forward Motor Finance can tailor car credit deals for all our customers based on their individual circumstances. Our skilled team will try and sort the best finance offer for you from our panel of lenders first time, every time. We are also available to support you throughout the whole length of your credit agreement. Our team will help you get the credit you deserve.
