Guaranteed Car Finance - The Four Alternative Options To Try

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It would seem that car finance has become increasingly difficult to find, as almost anyone will testify who has looked for a car loan or for guaranteed car finance during the latter months of what can only be described as a fairly gloomy year.

With over 55,000 bankruptcies this year alone, and even major high street names collapsing, being sold off or slimming down so much that legions of employees fall by the wayside, it seems that the recession has spared very few of us completely. But though past experiences may not make for pleasant bedtime reading, you may be looking to start the new year on a positive note, with a new car.

But perhaps the old year has continued to haunt you, with unpleasant little details from months ago still dragging you down and preventing you from obtaining car credit finance?

Perhaps you have tried one or more of the options available to you already, but four possible routes generally present themselves for consideration. The first possibility is to go to your bank or other financial institution to check out the options available for car loans. A car loan from your bank might seem like a good deal, but in many cases your bank will judge you more on your credit history than on your banking history.

This can seem grossly unfair, especially when you may have been banking with the same organisation for years, and have only recently experienced a few poor months. Yet your credit history will rise up like a virtual barrier between you and any potential car finance.

Your next port of call may be a main dealer, as they not only offer cars on finance, but some will also offer bad car finance - that is, car finance bad credit. Often salesmen will be enthusiastic about your chances of obtaining credit, and will entice you with vehicles and models available.

Once you have been convinced that the deal is virtually complete, you may then be in for a nasty shock. Once the dealer tries to process your application for car credit finance, you may find yourself being declined. In some cases the salesman will have guessed that this may be the case, but on his record it will count as an attempted sale, at least helping his credibility if not his commission.

You will undoubtedly experience a certain degree of embarrassment as your car finance application is declined, and you are also likely to experience a good deal of disappointment.

This generally brings you on to the third option, and this is where you start looking for the word 'guaranteed'. Guaranteed car finance deals are those which are advertised as being available for absolutely anyone, even those who have multiple CCJs, defaults and in some cases even bankruptcies. The company will make bold claims that they will be able to guarantee that you'll be offered car credit finance to purchase a car. There is small print, however.

The small print, in many cases, states that any car loan which the company makes available to you can only be spent on one of the very limited number of vehicles which they have available. In almost every case you'll be granted what seems like a very generous offer, until you see not only the cars available, but the prices.

You will be given a choice of three or four vehicles, all of which are often very overpriced, and which neatly take your entire budget. This feels a little like good news and bad news all rolled in one, and can leave you feeling somewhat short changed.

But what of the fourth option? How can most people who suffer the indignity and disappointment of the first three options still achieve a feeling of satisfaction, and start the new year without feeling that the old year and their credit history is determined to haunt them forever?

It's easy to give up and feel rather dejected, but there are a few companies out there which understand that a credit history is exactly that - a history. Credit histories provide very little current information and don't even come close to painting an accurate, up-to-date picture of who you are.

Such companies will be much more interested in your current circumstances. With guaranteed car finance and car credit finance for those with adverse credit histories, such companies can provide you with the car loan you deserve, without restricting you to using it to purchase one of their own vehicles.

Car finance with the freedom to choose any car, from any dealer, anywhere in the UK, and with your credit history considered history, there is hope, and it's well worth pursuing such an option, as it could very well help you kick off the new year on a more positive note.

Article Source: http://depositarticles.com/

Car Finance | www.carloan4u.co.uk | Guaranteed Car Finance

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