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[http://www.motionfinance.co.uk car finance] - Guaranteed Car loan can be a financing technique that allows people who have poor or poor credit to have acquire a new or used car. It will help individual with credit problems that require a car looked after provides the car dealers and lenders a valuable start up business source.


Guaranteed motor finance is really a free service given by lenders to car buyers with poor or a bad credit score. The guaranteed motor finance lender allows the borrower to request financing amount for your buying a vehicle and when approved the borrower can shop for a car at any dealer like he/she in which a cash buyer. This allows the borrower for the greatest purchase price possible.


[http://www.motionfinance.co.uk car loans] - The borrower of the guaranteed car loan loan will select the car of these choice from the car lot of the choice. They will then submit the completed application and the car details to the guaranteed car finance company. You will see a required deposit up to 20 % of the purchase price with the car. The completed application has to be followed by the following documents:

- Passport and/or drivers license.
- Name
- Current address
- Employment
- Bank Statements (3 to 4 months)
- Utility Bill
- Current Rent or mortgage Payments (or process to make current)


Guaranteed car loan programs are equipped for individuals with bad credit, bankruptcy histories, credit and debt defaults, court judgments, no credit score and/or launch businesses which may be looked at to risky for conventional lenders.


Guaranteed car finance is actually a rental agreement or perhaps a seek hire. The guaranteed car finance lender actually becomes the master of the car and rents it to the borrower for any set monthly rental fee. For your term with the guaranteed motor finance agreement the borrower helps make the monthly payments and has the total use of the car. Once the term with the agreement ends the borrower gets a free and cleat title towards the car.


[http://www.motionfinance.co.uk car loans] - As the guaranteed car finance lender is really who owns the vehicle for your term of the agreement it is not too difficult so they can take possessing the car in case of a default from the borrower. This reduces their risk and really should monthly obligations be missed they are able to merely consider the having the automobile and put it with a brand new borrower.