If you've thought about getting bad car finance or finding car finance bad credit deals, the one word which is probably dominating your thoughts is 'bad'.
Perhaps you have bad credit, a bad credit history, or a bad credit rating - call it what you will, the only word that seems to matter is 'bad'.
Many people start to transfer this word to themselves, almost starting to believe that they're being punished in some way for being bad in the past - being bad when it came to paying bills on time, being bad as far as earning enough money is concerned, or being bad for falling ill, having an accident, losing your job or suffering in any slight way at all as a result of the global recession.
In this way people tend to start giving up, feeling that the idea of getting cheap car finance or cars on finance is beyond them, simply because with their lousy credit history, they simply don't deserve to be given the privilege of a car loan or car finance.
If this all sounds horribly familiar, then it's time to shut the door on the word bad, because in most cases it's meaningless.
You almost certainly haven't been bad - you've simply suffered at the hand of fate, just as so many others have. You probably didn't choose to be ill, or for your employer to go bankrupt.
Circumstances happen which force us into making tough decisions, and if you decided that putting food on the table for your family was slightly more important than paying your credit card on time, then does that really make you a bad person, and should you really be punished by being denied cheap car finance, or any kind of car finance package at all? No, of course not - so what are your options once you shelve the negative words and accept that you're in the same boat as a huge number of other people?
If you've gone to your bank for a car loan, or visited a main dealer looking for cars on finance, you may have been turned down rather quickly. This is because car dealers simply have arrangements with the bank, and the banks all use credit checks to assess people, and don't tend to take into account any mitigating circumstances.
They look at your credit history and think that's the whole story. Of course, it is rarely the whole story. By definition, a credit history is history - it says very little about how you got there, why you got there, where you've been since or where you are right now.
But banks and other lending institutions don't tend to look beyond the credit history, and so you can easily find yourself being turned away for having even a slightly weak credit history. You may only have a few late payments or a few missed payments, or you may have a credit history with more severe entries such as large arrears, defaults or even County Court Judgements (CCJs), but in spite of all this, there is still hope.
Whether or not you have heard of guaranteed car finance before, and even if you've looked into guaranteed car finance options in the past, read on, because there are a good many misconceptions, and a wide range of options.
Some companies offer guaranteed car finance for those looking for bad car finance or car finance bad credit arrangements, but there are catches. Several of them. Some companies will only offer guaranteed car finance if you agree to pay extortionate rates of interest. This isn't fair, because if you've had financial problems in the past you need cheap car finance - not something that's going to cause even more problems in future.
The second catch is often that guaranteed car finance loans can only be used to buy a car from the car finance firm itself. Usually they have a small selection, and let you choose one from a choice of two or three. Often you'll find the prices are inflated, and you may not always even be able to fully test drive the vehicle first.
However, there are a few car finance companies which are able to offer guaranteed car finance at rates which won't break the bank (again!) and they'll even let you use your car loan to buy any car you like, from any dealer you like, anywhere in the UK, with no rush. Have a look at the links below, and see how soon you could be driving away a new car - without ever having to consider the word bad.
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