What is Guaranteed Car Finance?


Are you a Glendale driver who has low credit? If so, consider researching “guaranteed car financing near me” and then contact us at Rocky's Auto Credit in Mesa! What is guaranteed car finance? Simply put, it allows you to buy here and pay here at the dealership, but we will go into further detail below. If you’re looking for one of the guaranteed car finance dealers in the Phoenix area, then look to our finance department. Learn more about guaranteed car finance below. 

How Does Guaranteed Car Finance Work? 

You most likely found yourself on this page after searching, “guaranteed car financing near me.” Well, we have a guide for a basic understanding of guaranteed car finance! Typically, guaranteed car finance dealers offer in-house finance opportunities. This loan allows many Tempe drivers who have very little credit history to finance a vehicle. In-house guaranteed finance dealers will deep dive into your current income to determine if you meet the minimum income requirements.

With little credit, heading to one of the guaranteed car finance dealers in the area is a great option. Here’s the basic requirements to fulfill:  

  • Minimum income of $1,500 to $2,000 a month before taxes (most dealers require this amount, but it varies by the dealership)
  • Down payment (usually around $1,000 or 10% of the car’s selling price) 
  • Recent pay stub
  • Proof of residency (utility bill)
  • List of personal references 

In-House Guaranteed Car Finance Dealers 

If you’re approved, guaranteed car finance can help build your credit as long as your payments are paid on time each month. This is helpful if you ever want to apply for finance in the future on a new vehicle. When you get guaranteed car finance, make sure the guaranteed car finance dealer reports all payments to major credit bureaus. Once approved for guaranteed car finance, you’re able to build up your credit and pay off your car in a reasonable amount of time. This is perfect for first time car-buyers who don’t have much credit or experience in making large purchases. 

Explore Guaranteed Car Financing Near Phoenix

Ready to head into a guaranteed car finance dealer today? We’re here for you! Before exploring our inventory, be sure to become familiar with more of our car buying tips to help you out.