The Pros and Cons of a Guarantor in Car Financing
When buying a car, you usually have to finance it. However, not everybody can get a loan because of things like bad credit, little financial history, or irregular income. In such circumstances, a guarantor can be a way to secure financing. A guarantor acts as a financial safety net to lenders, agreeing to pay if the borrower defaults. This arrangement can be a good way to open the door for borrowers who would otherwise have