We work with a number of different lenders in order to give you the best chance of arranging car finance successfully. One such lender is Amigo Loans, a guarantor loan company, and we’re delighted to be able to offer you their financial products.
Amigo Loans offer a type of car finance that’s perfect for people who have poor credit scores, because they ask for guarantors. A guarantor is someone who can guarantee that the loan will be repaid. Typically, a guarantor will be a family member or friend who is also a homeowner. They agree to step in and make the repayments if the borrower can’t.
They are a lender who don’t approve loans on the basis of credit scores, and instead pride themselves on offering loans on the basis of relationships and trust – just like the good old days. They also do not charge additional fees for late payments or early settlements.
They report to UK credit agencies, so as you pay off your loan, you’re also rebuilding your credit rating. This makes them perfect for people with poor credit ratings who are looking to improve it. Even if you don’t own your own home, you’re self-employed or out of work, you may still be able to borrow from Amigo.
They are based in Bournemouth, Dorset and they’re part of The Richmond Group.
Here at motor finance 4u, we work closely with Amigo to help make sure that you get the best deal when you apply for car finance with us. Working with this loan company means that even if your credit score is poor, if you have a close friend or family member willing to be your guarantor, then you still have an excellent chance of arranging finance with us.