Looking To Buy A New Car, But Need More Funds?

Tough times still exist, but life goes on none the less. One of the essential requirements of today is the family car, and perhaps yours has seen better days. The days where car credit was readily available have pretty much gone, but the need for cars still exists stronger than ever, couple this with the lack of general credit in the financial markets and people who are short on cash and have a poor credit background may find themselves without transport.

So, what are the solutions to this? Obviously, if you've got no money but need a car, then you probably need a loan. But where can you get this? Well, credit cards are an option, but normally expensive and impractical. Then there's payday loans, but you need to repay these on your next payday, this leaves a fairly new loan product - guarantor loans.

To get one of these financial products, you need to find a homeowner guarantor who is willing to assist in you securing a loan. They can do this by signing the loan agreements with you and adding their name as a 'backer' for the finance. This gives the guarantor lender extra security and therefore makes them far more willing to lend you the money.

This process won't work the same as car finance, simply because you need to get the money first before you can buy the car. But this should be easy - simply, get the loan by applying online and then go and find the car you want! You could even find a car first, perhaps put a small deposit down, then apply for the guarantor finance, get the money and go and buy the car. It's not as straight forward as car finance, but in today's economic climate it's certainly still an option that's available to you!