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I am currently unemployed due to an accident that I had at work last year and am finding it difficult to obtain car finance. It is a bit of a chicken and egg situation as I really need a car to help me find work and regain my independence. I am currently receiving an army pension as well as unemployment benefits and my total monthly income is £1200 a month which is more than enough to allow me a spare £250 a month to pay a car loan. I only want to borrow £5000, can you help?

Hi Spencer and thanks for your email and yes we should be able to help you. Unfortunately main stream banks have quite strict criteria which include having to be in employment for at least 3 months which is not a lot of help to people like yourself who are trying to get back on the career path. If you are unemployed and need car finance the options are more limited but at The Car Loan Warehouse we have a good option to get you back on the road and to rebuild your credit history. This is called a“Guarantor Loan” and will involve finding a member of your family or a friend of yours who trust you to make the payments and who will vouch for you. It is very quick and easy and we can usually get you the money the same day putting you in a strong position as a cash buyer to purchase a car. You can apply for unemployed car finance online or you can phone one of our experienced and friendly advisors who will take your application over the phone. They will also need to talk to your guarantor so have their name, address, date of birth and phone number handy. Hope this is of help. All the Best. Jon.

About The Expert

Jon Le Roux is co-founder and company director of The Car Loan Warehouse. Being a mad engineering and motorsport enthusiast, I spend more hours than is healthy, watching, reading or talking about cars, boats, motorbikes…..basically anything with an engine.