Put simply – no. Just as there are no guarantees in life, there are no guarantees in car finance. As such, we would advise you to be very wary of any company that suggests they can guarantee car finance to you. At My Car Credit, we don't offer any guarantees. However, we always do our absolute best to get you accepted for car finance, so you can buy the car that you want.

The truth about Car Finance & ‘guaranteed car finance’

The reality is that the ‘guaranteed car finance’ claim is often a marketing ploy. The goal is to make you think that you’ll definitely be able to get a loan regardless of your circumstances. If companies offer guaranteed car finance, they think they’ll attract more customers. And they usually do – often people with a poor credit rating.

In truth, guaranteed car finance simply doesn’t exist. In fact, there have been laws in place since 2010 which state that making a false or misleading claim around finance guarantees for consumer credit is an offence. Additionally, advertisements that contain just the phrase ‘loan guaranteed’ are also banned. The advert would need to include terms and conditions regarding the individual’s credit status to be allowed. 

‘Guaranteed car finance’ schemes

Found a few companies that offer guaranteed car finance? Despite what we’ve said above, there are some providers offering what they call guaranteed car finance. Some finance companies will offer guaranteed car loans to reel in vulnerable customers, without any actual guarantee. Other lenders will create some sort of false guarantee and claim that it amounts to guaranteed car finance.

Whatever the case, watch out for ‘guaranteed car finance’ schemes which are designed to catch you out. A common scheme is to ask for a ‘guaranteed car finance enquiry’ fee. Usually this fee and the offer it is meant to guarantee are closely attached to complex small print (i.e. legal jargon). In order to decipher it, you’d need to be a qualified lawyer!

Any finance lender suspected of dealing with customers in this way can end up with a full Financial Conduct Authority (FCA) investigation into their conduct. If upheld, this could lead to them being fined or forced to close.

They’ll carry on for as long as they can get away with it. But when they get caught out, there’s rarely any compensation for customers with a bad credit history, who have been irresponsibly sold car finance – usually with sky-high monthly repayments. You’ll find that your personal circumstances are even worse, giving you less chance of improving a bad credit score.

In summary – almost every guaranteed car finance claim is a scam.

How car finance agreements really work

Car finance agreements are purely based on your individual circumstances and your credit profile. This means that there will inevitably be some individuals who aren’t eligible for car finance – hence why guaranteed car finance doesn’t make sense.

We’ll go out of our way to help you get approved for car finance, including bad credit car finance. However, it’s our lenders that have the final say on your car finance application after fully assessing your current financial situation, affordability and credit profile.

A credit profile is a document that contains information regarding your creditworthiness and credit history. Your credit profile includes: what types of credit you hold, the length of time your credit accounts have been open for, if you made your repayments on time, and any applications for new credit.

Lenders are far less likely to lend you money if they are not convinced you can repay them. This would naturally be bad business for them. In addition, it is not ethical for them to lend money that could push you into financial difficulties. So, it’s paramount they only offer car loans if they believe you can afford the monthly payments.

How to get accepted for car finance

Whilst we cannot offer guaranteed car finance, there are ways you can improve your chances of getting accepted for car finance for a new car, whatever your credit history.

  • Improve and maintain your credit score
    Your credit score is the main factor that is assessed when you apply for a car loan. It reflects your ability to keep up with monthly repayments. This means it’s important you keep your score as high as possible. There are many things you can do to improve your credit score. Not only will a good credit score improve your chance of an acceptance but you will also get a better rate. However, don’t lose heart if you have a low credit sore as there are still plenty of options.
  • Put down a deposit on your car loan
    Paying an upfront deposit on your car loan makes you less of a risk to the lender. For bad credit car finance, there may be a larger deposit required. Not only is the amount owed on the vehicle reduced but your monthly payments will also come down. Once again, don’t despair if you can’t pay a deposit. There are plenty of no deposit car finance options available!
  • Opt for a Guarantor Loan
    A Guarantor Loan is where a third party (usually a family member or close friend) agrees to pay your loan if you are unable to. This lowers the risk for the lender, as it’s essentially guaranteed car finance on their end, improving your chances of acceptance. It can also lower the interest rates you are offered. Guarantor Loans are a big responsibility for both parties and shouldn’t be entered into lightly. Make sure you are clear on how a Guarantor Loan works before proceeding.

What we can offer

My Car Credit has access to a large panel of lenders. These have all been vetted and approved by the FCA for their trustworthy operations and the quality of their service.

Our large network of lenders increases the chances of you getting accepted, across all credit profiles (from poor to excellent). Our unique underwriting policy prioritises the best outcome for you, the customer. This ensures we give you the best available deal on car finance for your circumstances.

You can trust My Car Credit because we are part of Evolution Funding, the UK’s largest vehicle finance broker. We are proud to be award-winning market leaders in the industry. We have helped thousands of customers get the car they want; at the price they can afford. We are also regulated and monitored by the Financial Conduct Authority (FCA). In conclusion, you can borrow for your next car safe in the knowledge that we are professional and reputable.

What about bad credit car loans?

At My Car Credit, we understand that some applicants have a poor credit history. That’s why we don’t just turn down drivers because of a poor credit score. As a leading UK car finance company, we aim to offer car finance packages to as many people as we can.

Unlike traditional lenders, we have a network of over 30 companies. Our team will work tirelessly to compare your car finance options and find the right deal despite a bad credit score. Whatever your credit rating, our goal is to offer you a car finance agreement with monthly payments you can afford.

If you have any questions, our Car Credit specialists are here to help. Finally, you can get an instant decision, that won’t affect your credit file, by applying today.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating


  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed


  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs


  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit


  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past


  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan

X monthly repayments of

Typical rate

Loan amount

Total payable




*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!