The short answer is ‘no!’ and we would advise you to be very wary of any company that suggests that they can guarantee car finance to you.


The reality is that the claim of guaranteed car finance is often a marketing ploy to entice customers searching online to apply for car finance by misleading them into thinking they will definitely obtain credit whatever their circumstances are.


At My Car Credit we always do our best to get our customers accepted for finance but we never offer any guarantees and there will be applicants who will not be able to obtain a car loan through us.


It is worth bearing in mind that finance agreements, rates and terms are based on the individual’s circumstances and credit profile. What’s more, car dealers and finance brokers do not have any control over whether a customer gets approved for finance or not – it’s the lenders that make the final decision after assessing an applicant’s credit profile.


What is a credit profile?

This is a document that holds a person’s information regarding their credit worthiness 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 applications for new credit. Lenders do not want to lend money to people who would not be able to repay it. Not only is this bad business for them but it is also not ethical for them to lend you money that you cannot afford to repay.


A more ethical solution to car finance

Rather than promising ‘Guaranteed Finance’, My Car Credit offers a more ethical solution to your finance application.


My Car Credit have access to over 25 lenders

This increases the chances of you getting accepted and our unique underwriting policy prioritises the best outcome for you, the customer, in order to give you the best possible car loan rate.


We have helped customers with varying credit profiles, from poor to excellent, to get approved and can boast an acceptance rate of 64% of customers who apply.


My Car Credit starts with a ‘soft search’

At the point of application, we only carry out a ‘soft search’. This means that there will be no footprint or indication on your credit file that a search has been carried out.


Once you have made an application with My Car Credit and a ‘soft search’ has been performed, we will know if you will be accepted by one of our lenders on our extensive panel. In the small chance the application does not get accepted, your credit profile will not be affected.


My Car Credit is trustworthy and ethical

You can trust My Car Credit because we are part of Evolution Funding, the UK’s largest motor finance broker and market leaders in the industry. We have helped thousands of customers get the car they want at the price they can afford.


We are regulated and monitored by the Financial Conduct Authority (FCA) and so you can borrow for your next car safe in the knowledge that we are professional and reputable.


There is lots of advice on our blog about how credit decisions are made, how you can improve your credit rating and so on. If you have any questions, you can always speak to one of our Car Credit Specialists by calling 01246 458 810. Finally, you can also get an instant decision, that won’t affect your credit file, by applying today.