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[http://www.motionfinance.co.uk guaranteed car finance] - Guaranteed Car Finance is a financing technique which allows individuals with poor or a bad credit score to obtain get a new or second hand car. It will help individual with credit problems that need a car and it also supplies the car dealers and lenders a very important new business source.


Guaranteed car finance is really a free service given by lenders to car buyers with poor or a bad credit score. The guaranteed car finance lender allows the borrower to request financing amount for your acquisition of an automobile so when approved the borrower can look for an automobile at any dealer as if he/she the place where a cash buyer. This permits the borrower to get the best price possible.


[http://www.motionfinance.co.uk car loans] - The borrower of a guaranteed motor finance loan will select the car of the choice from your car lot of these choice. They are going to then submit the completed application as well as the car details for the guaranteed financial institution. You will have a required advance payment up to Twenty percent of the purchase price of the car. The completed application must be followed by the following documents:

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


Guaranteed motor finance programs are equipped for people with poor credit, bankruptcy histories, credit and debt defaults, court judgments, no credit history and/or launch businesses which would be looked at to risky for conventional lenders.


Guaranteed motor finance is actually accommodations agreement or a seek hire. The guaranteed car loan lender actually becomes the master of the car and rents it to the borrower to get a set monthly rental fee. For your term with the guaranteed car loan agreement the borrower helps to make the monthly obligations and contains the total technique car. If the term with the agreement ends the borrower turns into a free and cleat title towards the car.


[http://www.motionfinance.co.uk car finance] - Because the guaranteed motor finance lender is actually the owner of the car for that term from the agreement it's relatively simple to allow them to take having the vehicle in the event of a default from the borrower. This reduces their risk and may monthly obligations be missed they can merely take the possessing the car and set it with a new borrower.