| Question |
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Can anyone suggest a low interest loan for someone with quite poor credit history?
Or am I just dreaming that this exists? I want a loan for a car, just £1000 but I have been refused by my own bank and by sainsburys loans. I nearly went for someone else but my sister advised me it was a yes loan and that these cannot be trusted. Anyone got any idea who the best people to go with would be?
Thanks for the erm advice so far but all I want to know is where I can get a decent loan from. Thanks.
Will people please stop saying save money..? and to answer somebodys question about yesloansuk, they mis-sell loans to people according to what was on tv on watchdog.
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| By
<3MJxAlwaysx |
Posted on
02/07/09 Total Answers
11 |
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| Answers- |
| forget it, better save up instead |
| Answer by :
bluecow On Date
2009-02-07 08:58:41 |
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| Can you afford not only the car but the funds to maintain it as well as the insurance and emergency repairs?
Have you considered getting another job or a part-time temp job to raise the funds. A £1000 is not much. How reliable can this car be for that price? It would be a good time to start looking now before jobs are filled for the term breaks.
Because of the state of the economy, institutions are tightening their belt to loan money to high risk borrowers with little or no credit.
Do you have a birthday coming up where your family and friends can all give you £20 each? All you need is just 50 gifts and there's your car! Best of Luck! |
| Answer by :
Semper Fi On Date
2009-02-07 08:59:08 |
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| Well I am really sorry to burst your bubble but you will never get a loan anywhere now for less than 29.8%apr because you are a liabilty and untrustworthy with money hence thats why you are in debt.
Even if you went to your local loan shark, their apr is absolutely ridiculous, and in most cases you are repaying nearly double the amount back.
Seriously I would go to family to borrow the money, if you embark on a loan shark, you will have to pay the interest back first and then your repayments will be still high to repay the rest of the loan. I really wouldnt do it, I have done it myself and ended up in more trouble. |
| Answer by :
Shirl On Date
2009-02-07 09:00:08 |
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| Best interest would for you be a credit union, give them a try there will be a branch near you. |
| Answer by :
rainman On Date
2009-02-07 09:03:04 |
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| Once you have the money I can't see why trust even comes into it from the lenders side because you have it so what's wrong with the yes loan? |
| Answer by :
Graham H On Date
2009-02-07 09:04:39 |
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| There are no low interest loans for anyone with bad credit history.. The lowest rate you will pay for any loan is 28% and that's if a company will approve you. You will need a co-signer for you to be approved and still have to pay the high fees and rates associated with the loan. It's best to save some money. |
| Answer by :
sunshine On Date
2009-02-07 09:05:03 |
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| ill give you the money if you want .u just need to give it back |
| Answer by :
billyboy On Date
2009-02-07 09:25:09 |
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| why not look online and see if there are any sites there that can help and see what the interest rates are there people get into debts for all sorts of reasons and circumstances change so can all the critics please stop telling her to save if she had savings she would not need a loan for a car |
| Answer by :
rennickelizabe On Date
2009-02-07 09:49:30 |
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| You could try a Credit Union. They are cooperative banks owned and run by their members. By law they are not allowed to charge more than 2% interest per month. They also tend to be more willing to lend to people with little credit history or a poor credit history. They may be more willing to lend if you have been saving with them for a while first.
Find out more here:
http://www.moneymadeclear.fsa.gov.uk/pdfs/credit_unions_ink.pdf |
| Answer by :
iffihadahammer On Date
2009-02-07 09:59:52 |
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| You could find out if there is a local credit union. These are like co-operatives set up in the community for the community. Make sure you avoid the 'loan sharks' and if you go with a company like 'yes', check the annual percentage rate and read ALL of the small print. Be careful and good luck. |
| Answer by :
CAROL On Date
2009-02-07 10:27:47 |
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| Hi, you should search over internet. Besides yes loan their are several other companies also. I think you should not be dependent fully on one company. You can ask for a free quote from several companies like the this one:
http://www.longdogfinance.co.uk/car-loans.html
Ask them for a free quote after specifying all your terms and conditions. Check for every hidden cost and then apply for the best suitable deal for you. |
| Answer by :
Eve A On Date
2009-02-08 21:24:52 |
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