What Does Guaranteed Car Financing Mean?

Closeup of man signing a contract of car sale.

If you’re interested in bringing a new Jaguar model home to your Cincinnati driveway, you’ve probably been considering your many financing options. For those with poor credit or no credit, guaranteed car finance dealers may present this option as an alternative to buying outright or securing a bad credit loan. Learn more about what guaranteed rate financing means below or contact the finance team here at Jaguar Cincinnati apply for financing and explore your options.

How Does Guaranteed Car Financing Work?

As mentioned, this is a viable option for those with poor credit or no credit because guaranteed car financing does not require a credit check. Instead, an in-house car financing dealer will determine what financing options you qualify for based on your income. Once your financing is all set up and you begin making regular payments, this actually becomes a way for Mason drivers hoping to build their credit to do so. Since most in-house finance dealership departments report to major credit bureaus, your timely payments will be noted and strengthen your credit score over time.

Guaranteed Car Financing vs. Bad Credit Loans

Guaranteed car financing skips the credit check— but there are loans for those with poor credit. You’ll want to weigh the pros and cons of these two options. First, know your credit score. Though your credit may be enough to get you a loan, it can come with higher monthly payments and a higher APR than forgoing the credit check altogether and opting for guaranteed car financing. Typically, for guaranteed car financing, you need the following to qualify:

  • Monthly income between $1,500 and $2,000 before taxes
  • Proof of income
  • 10% down payment on the vehicle
  • Reference list

Learn More About Financing a Jaguar from Jaguar Cincinnati

Speaking with a dealership finance expert can help you decide which option is best for your lifestyle in Fort Mitchell, KY and your current budget. Contact our finance team today for guidance regarding buying or leasing a Jaguar vehicle. Whether you’re interested in a used Jaguar SUV or a new Jaguar E-PACE, we are here to help make it a reality.

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