Serious question about a loan can anyone help please?

Question

Serious answers only please. We live in the UK, My partner suffers a mental illness and we recieve benifits now my partner relies on his car to help him feel safe he cant cope without it due to his mental illness. His car broke yesturday and its completly dead the AA dont even know what is wrong with it so its not fixable. We cant apply for finance as i dont drive and my partners doesnt have a credit score so im trying to get a loan in my name and i need to know the best company to go through? I have been offered one from amigo loans but it works out i would pay over £7000 more back!! Is that average? I dont work as im a mother and a full time carer for my partner. I would really appreciate any help as im ripping my hair out here 😠 lol

Answer

I would seriously stay away from loans like amigo and wongo and the likes, they charge disgusting amount of interest it really isn't worth it. have you looked at provident I think there quite average regarding interest, my sister has got one from them and they are the best prices she found apart from lending from your bank.

Answer

As said try and go with the lowest Apr. Sometimes it's easier to get accepted by your bank too. On the money supermarket website there is a loan comparison form that tells you how likely you are to be accepted by a variety of different lenders.  Good luck!  x

Answer

Do not go for amigo or anyone like that! Look at the APR the lower the better. You should start with whoever you bank with. You can also use a free service like noddle.co.uk who will check your credit score for free and recommend what you will and will not be accepted for. Look on Martin Lewis website moneysavingexpert as well as he can recommend loans and I think he has a calculator to say whether or not you will be accepted. It might be worth finding an interest free credit card that will give you a high credit limit. My bank gave me a cc with a 8800 limit so a car would be affordable on that budget. Also check to see if u can pay for a car on finance because the APR may be lower than a loan and I think you have more chance of being accepted. Final option - borrow from a family member!

Answer

Depends how much your original loan is for but seems high. Shop around for interest rates before signing anything! Also ask your bank if they do personal loans