What is a guarantor car finance?
Guarantor car finance is a type of car finance where a third party is added to their agreement as a guarantor. The guarantor is then responsible for making the loan repayments if the borrower is unable to and will be held liable if they do not.
How does a guarantor work on car finance?
A guarantor is essentially someone willing to take on the responsibility of repaying the car loan if you are unable to make the monthly payments. Much like a traditional car loan, they will be expected to have a good credit history and they will be subject to the standard credit and eligibility checks.
