Buying a new car or upgrading to an advanced model requires a huge investment. Meanwhile, having bad credit will reduce the chances of getting traditional loans. Advanceloanday is your one-stop destination for choosing affordable car loans, despite of low or bad credit history.
Our loans give you the ultimate freedom to buy a car where you want. There are no limits to the miles, and our loans free you from economic hardship.
We want to work for people with bad credit. If all goes sound, the payments are made on time, and overall, it can boost your credit profile.
Car loans are the common personal loans used to buy a new or used car. These loans are generally faster than other loan types, including secured loans. However, the interest rates and terms of the loan will differ depending on the credit score, monthly income, and other related factors.
There are many reasons why a car on finance could be a worthy idea:
Financing a car is an ideal option when:
Want to get a loan decision within 5 minutes?
Loans can be a good option for people who want to get their car but need more money to pay for it upfront. Here are some individuals who may prefer car loans:
Individual who needs a car for transportation:
Getting guaranteed car loans for bad credit will be the best choice for people who need a car to get to work or other important activities. In general, this will support anyone to purchase a car with ease.
People who want to build positive credit:
If you have a limited credit history or poor credit, taking out a car loan and making regular payments can help to build your credit score.
Individuals who prefer to own a car instead of leasing:
A car loan is perfect for people who want to own a car outright rather than lease one. It helps to purchase and pay for it over time.
An individual who does not have enough cash to purchase:
If you don't have enough savings to purchase a car, these loans can help you spread the cost over time.
Taking out a car loan is like availing of another debt and making monthly payments, which can affect your budget. Before taking out a loan, it is important to consider your financial situation, budget, and ability to make timely payments.
You should consider several aspects when choosing car loans in the UK, such as:
Loan amount:
You should consider the total loan amount and ensure it covers the car cost you want to buy.
Interest rate:
The interest rate may differ depending on financial history, so compare the exact interest of the loan to avoid burdens in future.
Loan term:
Finding a loan term that suits your budget and financial ambitions is important.
Fees:
Check whether there are fees for application processing, early repayment, or late payment. You should understand all the elements to find the best car loans for bad credit.
Repayment schedule:
Understanding the repayment schedule and ensuring it works for your budget is important. Some lenders allow weekly or biweekly payments, while others allow monthly payments. There may be a grace period for late payments or if there are fees for early repayment.
Considering these factors, choosing a car loan that perfectly fits your budget and financial goals is simple.
Bad credit may not disqualify or create hurdles while getting loans, but the terms will differ based on your circumstances.
Sometimes getting car loans for bad credit is much harder, and you must pay higher interest when choosing brokerage services.
Our car finances are mainly available to assist you in getting complete freedom while choosing your dream car without any limits. Even our affordable loans allow you to build a positive credit score to get better loans for future needs.
Whether you are looking for a new car or prefer to get a used model, we let you get funding for anything, even with imperfect credit. You will get 100% guaranteed car loans for bad credit in the UK, but we check your repayment ability while offering the loans.
To make your car loan process as much simple, you should follow the below tips:
Avoid applying for different loans for a short duration because this might give rise to unwanted credit obligations.
When applying for an auto loan, you should clear up any credit history for red flags.
Many options are available, so try to choose one that fits your needs and budget perfectly.
Whether you choose a new or used car loan, focus on the funds with affordable terms. Additionally, check the size of monthly payments.
You do not want to make anyone a guarantor for getting car finances. Most loans do not require a guarantor since the collateral is in the form of a car. However, car loans with no guarantor terms may vary based on your financial circumstances and other factors.
Whatever your circumstance, we have a perfect solution for you. We figure out which finance option is perfect for you. Based on that, we offer the best loans without affecting your credit history.
Getting car loans for poor credit with no guarantor could be more affordable because this will give you a lot of independence. You are only liable for making the repayment.
To apply and check your eligibility, simply click here and start your application now. Our car loans assure you the lowest APR on car loans and allow choosing your own repayment term.
These loans let you experience a different set of features. Here are some common benefits of new car loans or used ones.
Fast money:
Car loans for people with bad credit are usually offered against your car, so it involves lenient eligibility criteria and requires minimal documentation. However, this will enable a faster process.
No need to break your savings:
With the easy availability of cash through loans, individuals can access cash without breaking their savings or needing to wait long to get their dream vehicle.
Availability of repayment options:
There are various repayment options on a car loan. You can easily finalise anyone of the repayment option as per your financial situation.
Affordable interest rate:
Car loans are subject to lower interest rates than other financing options like personal loans, short-term loans, or any other traditional type of loan.
Taken as a whole, car finances come with a lot of advantages. Choosing these loans is perfect for getting money without exhausting your long-time savings. However, before getting any loan deals, you must research properly.
Purchasing a new or used car is your decision, but it is a huge investment. You may easily get cash through loans if you don’t have enough funds. There are many choices when choosing car finances, but you must find the option based on your needs.
While both loans look similar, only several differences may affect the buying decision.
New car loans:
In general, you will get a huge amount with flexible repayment terms in a new car loan because the risk is lower. However, the amount disbursed is much higher. This loan will give you about 90% of the car’s cost.
In addition to this, the interest will remain the same. The tenure for the new car loan is between five to seven years, so you can easily manage your repayment comfortably.
Used car loans:
If you go with the used car loans, you will get an amount lower than that of a new car, and the cost of insurance will also reduce. You will receive only a lower amount with flexible repayment terms in this loan. At the same time, your repayment period will be 60 months.
When looking for a deal that suits your financial circumstances, remember to do your research rather than taking out finance directly.
You should fully understand each type of car finance. However, it is always important to check all the details of the agreement you decide to take out.
We understand your situation and offer loans for your new car or refinance to meet your expenses easily. You can contact our team at any time you need cash.
Our guaranteed small car loans are simple to acquire. For processing a loan, we need minimal documentation. Conversely, our entire loan process is smooth and hassle-free. Most importantly, you will enjoy the following benefits by choosing our loans,
Owning a car gives you a great sense of independence, whether you buy it for your own or commercial purposes. We offer perfect online car loans for bad credit by considering your different requirements.
Our high-value loans with flexible repayment terms let you easily get your dream vehicle. For more details, you can approach our team. We are glad to support you.
The amount of money you can borrow for a car loan in the UK depends on your credit score, income, and other financial factors. Lenders typically allow you to borrow between £1000 and £50000 for a car loan.
Yes, you can easily pay off your car loan early, but some lenders may charge an early repayment fee or sometimes collect a penalty. To avoid these factors, getting car loans with bad credit from a direct lender like us is better.
If you default on your car loan, you will lose the possession of the car and it will be shifted to the lender. You may also be charged additional fees and interest, and your credit score will be negatively impacted.
Usually, many lenders may require a down payment for a car loan. Still, some responsible lenders like us offer no credit check car loans without needing a down payment depending on the lender and your circumstances.
The interest rate of car loans for bad credit online varies depending on your affordability, credit score, and other factors. The interest rate may be fixed or flexible, so shopping for the best deal is important.
I took a loan from Advanceloanday to purchase my dream car. The interest rate was viable, and the process was fast. I was accepted for a loan on the same day, and the funds were dropped into my account after my approval. I recommend this lender to anyone needing a car loan.
- Amelia, Nottingham, UK
A moment ago, I got a loan from Advanceloanday, and I am very much satisfied with the service offered by the team. I got the loan at a competitive interest rate, and I was able to negotiate a longer loan term that fit my budget. The customer service was excellent. They have provided a loan by understanding my needs and preferences. I would utilise this service when I need a car loan.
Felix, Wolverhampton, UK
Recently, I applied for a car loan from Advanceloanday. The application process was straightforward, and I could easily upload all required documents. Within a few hours, I received a decision, and the funds were transferred directly into my account. I appreciated the convenience and efficiency of the service, and I would use this lender again.
-Arden, Coventry, UK