We all know that when it comes to gaining finance for a car purchase can turn out to be difficult if you have a blemished credit history. I am sure most of us at some time in our lives have had some finance difficulties and it is not hard for these to spiral out of control thus affecting our credit rating. Whether you have gone as far as a county court judgment or if it is simply some missed payments, this can all make a dent on your credit history and affect your chances of being able to obtain any type of finance.

One good thing about the fact that you are applying for finance for a car is that your loan can be secured on the vehicle you are purchasing which does improve your chances.

However is there anyway to get guaranteed car finance? The answer is yes. It simply means you have to prove to your lender that you have the means and ways to be able to repay the money they are lending you.

This can be done in a number of ways.

Firstly your lender will probably look at your bank statements for the past 6 months. This will give them a good indication of your financial situation at the current time, without having to rely on possibly out of date credit reference agency data. They will be looking out for how much goes in and out of the account on a monthly basis, how regular your pay is and how often you go over drawn or have charges on the account. Responsible lenders will do this so that they can ensure you have the means to repay the money and are not borrowing above a level you can sensibly afford.

In order for you to get guaranteed car finance they will also look at your employment status. As well as asking about salary and job responsibility they will want proof that you work there and for how long. Usually they would be looking for you having worked there for a minimum six months but will also look at your actual employment history over the previous three years. This will help show that you are reliable and in steady employment, which means you are more likely to be able to pay the amount you have borrowed back

Lastly they may ask for you for a deposit. This is not always essential but if you are able to give them a deposit of anything around 15%-25% this can drastically improve your chances of obtaining finance for your car. So if you are able to save up some money to make a lump sum payment towards your car, this is recommended.

Of course there is no way you can get 100% guaranteed car finance but the above three options will definitely get you on the right path to improving your chances of acquiring the car of your dreams – as long as you can prove your worth, you will probably be successful.