No Guarantor Car Finance

✔️ Under 60 Seconds To Apply

✔️ Instant Decision

✔️ No Credit Score Impact When You Apply

✔️ Personalised Car Search Service

✔️ Consider customers of varying credit scores

✔️ Access To HP And PCP Options

✔️ Work With Trusted UK Dealerships

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 No guarantor car finance is a type of car finance where you apply on your own, without needing someone else to back your agreement. It’s often used by people with bad credit, CCJs, or a limited credit history. Struggling with bad credit or a past CCJ and unsure if you can get a guarantor for car finance? Don’t worry, no-guarantor car finance is a popular option you can still access, even with a less-than-perfect credit score, and apply for without a guarantor.

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No Guarantor Car Finance UK – What Is It?

No guarantor car finance allows you to apply for car finance on your own, without needing someone else to back your agreement, even if you have bad credit or a limited credit history.

Car finance without a guarantor is a common financing method in the UK. In a no-guarantor car finance agreement, you are the sole applicant responsible for finance. For customers with bad credit, a past default, or a CCJ, car finance without a guarantor can feel daunting, but it doesn’t have to be. Marsh Finance supports customers with a wide range of credit scores, and our affordability checks have no impact on your credit file. This helps protect your score whilst you hunt for finance.

If you decide to proceed with finance, a hard search will be completed at the very end of your application journey, which will impact your credit score.

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How Car Finance Without A Guarantor Works

You can apply for no guarantor car finance online, receive a quick decision, and complete your agreement directly with a lender, without needing a guarantor.

Apply online via our quick and easy form, with no impact on your credit score at the point of application. 

Our team carries out UK affordability checks, which do not show up on your credit file.
Our team reaches out with a decision. If accepted, find your car and inform your new lender.

The lender communicates with the dealership and arranges financing.

Commit to final contracts, and at this point, a hard credit search is undertaken.
Once final approvals arrive, hit the road in your new car. 
Ready to see if you’re eligible? Check your eligibility with no impact on your credit score.
If you decide to proceed with finance, a hard search will be completed at the very end of your application journey, which will impact your credit score.
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How Much Does No Guarantor Car Finance Cost?

No guarantor car finance can be more expensive than standard finance, especially if you have bad credit, but costs vary depending on your credit profile, deposit, and loan term.

The cost of car finance without a guarantor varies from person to person and depends on your credit score, the loan term, your personal affordability, and the car you wish to finance.

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For example, a customer with a lower credit score financing a £8,000 used car over 48 months may pay higher monthly repayments than someone with a strong credit history. Increasing your deposit can reduce both your monthly payments and overall cost. Bear in mind that missing payments can negatively impact your credit score and ability to obtain finance in the future. 

Take a look at our car finance calculator and enter your details to receive an idea of how finance might look. At this point, finance is subject to UK affordability checks and can differ from the offer displayed.  

Example: No Guarantor Car Finance

This is an illustrative example and does not guarantee approval or terms

For example, a customer with a past CCJ and a credit score of around 580 may apply for finance on a £7,500 used car.

By putting down a £1,000 deposit and choosing a 48-month term, they may still be approved without needing a guarantor.

Their monthly repayments may be higher than those of someone with a strong credit score, but making payments on time could help improve their credit profile over time.

Example: No Guarantor Car Finance

This is an illustrative example and does not guarantee approval or terms

For example, a customer with a past CCJ and a credit score of around 580 may apply for finance on a £7,500 used car.

By putting down a £1,000 deposit and choosing a 48-month term, they may still be approved without needing a guarantor.

Their monthly repayments may be higher than those of someone with a strong credit score, but making payments on time could help improve their credit profile over time.

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The Advantages And Disadvantages Of No Guarantor Car Finance 

Advantages
Disadvantages
Financial Privacy
Higher Interest Rates
Faster Application Process.
Lower Chance Of Approval
Potential Credit Improvement Provided You Meet Repayments
Potential Need For A Higher Deposit

No Guarantor Vs Guarantor Car Finance – What Are The Differences?

Car finance with a guarantor can improve approval chances and reduce costs, but no guarantor finance offers greater privacy and independence.

Applying for car finance with a guarantor generally improves your chances of approval compared to a sole applicant, provided the guarantor has a strong credit profile. Although approval chances are increased, you both become liable for repayments, and your guarantor can view your financial agreement. Guarantor car finance is usually best suited to customers with poor credit, but that isn’t to say that no guarantor bad credit car finance isn’t possible.

Marsh Finance do not offer guarantor car finance.

 

Guarantor

No Guarantor

Approval Chances

Higher (for customers with poor credit)

Lower (for customers with poor credit)

Interest Rates (APR)

Lower if a good guarantor is added

Higher (if the customer has poor credit)

Repayment Responsibility

Shared

Solely the applicant

Financial Privacy

Shared with the guarantor

Visible only to you

Application Process Ease

Usually slower

Quicker when it’s just you and the lender

Deposit

Lower deposit required to secure finance

Higher deposit may be required to offset risk

Amount Of Choice

Some UK lenders don’t accept guarantor car finance

All UK lenders accept no guarantor car finance, but your chances of approval can lessen with bad credit and CCJs
Car Specific Pages Content (14)-1

Loans For Bad Credit No Guarantor

You can still get car finance without a guarantor if you have bad credit, as lenders look at your ability to afford repayments rather than relying solely on your credit history.

Guarantor car finance is popular with customers experiencing bad credit. Looking for a loan with bad credit can be tricky, and adding a guarantor with a better score can help your chances of approval. If you have bad credit, you don’t necessarily need a guarantor though, as lenders assess you on your financial ability and not just your credit profile.

UK lenders, like Marsh Finance, consider customers with less-than-perfect credit scores and can provide tailored finance solutions to suit you.

 How Lenders Assess You 🔎

  • Incomings vs outgoings.
  • Payment history.
  • Number of past hard searches.
  • Current financial commitments.
  • The amount you’re looking to finance.

UK lenders, like Marsh Finance, consider customers with less-than-perfect credit scores and can provide tailored finance solutions to suit you.

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How To Improve Your Chances Of Car Finance Approval

✔️ Improve your credit score.

✔️ Correct any defaults or past missing payments.

✔️ Choose a cheap car that’s easily affordable.

✔️ Place down a deposit to reduce repayments.

✔️ Consider customers of varying credit scores.

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Check Your Eligibility Without Hurting Your Credit Score

Considering sole applicant car finance, but unsure if you’ll be accepted? Don’t worry! Our application form only triggers a soft credit search, which protects your score whilst you browse. If approved, our team can provide tailored financial solutions to suit your specific needs, helping you get behind the wheel on your terms.

Car Finance Check

Affordability checks apply.

FAQs

What Can I Use Instead Of A Guarantor?

If you don’t want to use a guarantor, you can boost your car finance chances by increasing your deposit, considering a cheaper car, and improving your credit score. Lenders don’t just look at your credit score when assessing your eligibility; it’s now about whether you can meet repayments.

Do You Need A Guarantor For Car Finance?

No, you do not need a guarantor for car finance. You can apply as a sole applicant, even with bad credit, although your interest rate may be higher.

A guarantor can be useful if you have a bad credit score or feel your chances of approval would improve by adding someone to your agreement. Even if you have bad credit, no-guarantor car finance is still possible; just be aware that you could face higher APRs.

Who is Eligible For No Guarantor Car Finance?

General eligibility differs from lender to lender, but usually requires:

  • A minimum age (20 at Marsh Finance).
  • A valid UK address.
  • A UK driving licence or EU licence and UK proof of address.
  • An average credit score. Some UK lenders, such as Marsh Finance, consider customers with a TransUnion credit score of 560 or higher.

Check your eligibility for car finance without affecting your credit score. No hard check, no obligations, just full transparency for you.

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Can I Get No Guarantor Car Finance At Marsh Finance?

Yes, you can get no guarantor car finance at Marsh Finance. We consider customers with a UK TransUnion credit score of 560 and above, but we charge higher APRs the lower your credit score is.

Can An 18 Year Old Get Car Finance Without A Guarantor?

Yes, an 18-year-old can get no guarantor car finance, but will likely find it harder than older customers with a longer credit history. If approved, an 18-year-old will face high APRs and a potentially longer loan term (to offset the risk of defaulting).

Marsh Finance’s minimum age to finance is 20.

Am I Guaranteed Car Finance Without A Guarantor If I Have A Good Credit Score?

No customer can be guaranteed car finance, but your chances of approval will increase the stronger your credit score is.

Luckily, credit scores aren’t set and can change with some work.

Can I Settle No Guarantor Car Finance Early?

Yes, you can settle no guarantor car finance early. Reach out to your lender and request a settlement figure, which you must pay to end your agreement early.

Is A Deposit Needed When Applying For car finance without a Guarantor?

A deposit is generally required if you have bad credit and are looking for car finance without a guarantor. This is because poor credit loans are harder to be approved for, and no guarantor only adds to this. If you find yourself in this situation, placing a larger deposit can massively boost your chances of finance approval.

*Make sure you never stretch yourself too thin by making too large a deposit that leaves you short down the road.

Apply For Car Finance Today, No Guarantor Needed

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