If you are looking to buy a new car, one of the sales gimmicks that you have heard on the radio probably has something to do with guaranteed car finance. This guaranteed car finance can be done in house or it can be outsourced to another company, but the point behind it is that anybody who is looking for car financing is going to qualify.
Usually how guaranteed car financing works is that the company offering the guaranteed car financing has a variety of lenders lined up to help out different people with different credit situations. Having these different lenders is one of the only ways that the car dealership can offer guaranteed car financing because not all lenders will help people with a bankruptcy nor will they help people who have low credit scores. For example, one lender might offer car financing for people with bankruptcy, but other lenders specialize in bad credit lending. No matter whom the lender they are always willing to help people who have good credit.
If you are going to go to a place that offers guaranteed car financing, the one thing that you need to keep in mind is this is not always going to be the best option for you, rarely is this type of place one that offers cheap car finance. Places that offer guaranteed car financing usually use lenders that offer credit to people who would not normally qualify for credit because of this high risk borrowers the interest rates that are offered are quite high. The only way you can find cheap car finance through one of these lenders is if you have good credit, which if you have excellent credit you can choose from various lenders. Most people who use guaranteed car financing are people with less than perfect credit.