Yes Loans

lucy_w86
lucy_w86 Posts: 827 Forumite
I have been trying to get a loan for a car but keep being turned down as I temp.

I have been accepted by Yes Loans - has anyone used them? Can you give me advice about them?

Anyone know a loan company who will lend me money even though i am temping? I am looking at £4000

Thanks!
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Comments

  • Lucy

    Yes Loans are not a loan company, but are brokers who charge a fee of £50 to find you a loan company who will lend you the money. Their services are not guaranteed and a lot of people have lost their money going with them as usually the companies they pass your details onto will be of no use to you.

    The first thing you must do is, to stop applying for loans, as each time you do this, lowers your credit score.

    The best advice I could give you, is stop applying for six months use this time to save up a bit of money (whatever the repayments would have been) this will put you in a better position as your credit score would have improved, and you'd be able to borrow less.

    As you are a temp you will find it very hard to borrow money on a long term basis, there aren't a lot of policies that will cover you for unemployment. Any chance of you getting a permanent job, or possibly going for a cheaper car.

    AMD
    Debt Free!!!
  • I have applied for quite a few loans which probably doesnt help.

    I would like to get a car within a month or so, so how am I going to do this?
  • what the urgency? do you need this car for your job? There are no easy options. Can your parents loan you the money, How about a secondhand car which would be a lot cheaper. As you have already mentioned you are temping, the main concern here is your long term prospects of paying the money back.

    AMD
    Debt Free!!!
  • Gemmadm
    Gemmadm Posts: 60 Forumite
    Hi just to add if you have already paid the £50 to Yes loans you can get this back if they don't find you a loan or you decide not to go with them. Write them a letter (go on the trading standards website and quote off there as they can get their broker licence taken off them if they keep your money). I did this and got my money back after a few weeks.
    Gemxx
    **If it wasn't this, it'd be something else!** :rotfl:
  • Sugar_Coated_Owl
    Sugar_Coated_Owl Posts: 12,379 Forumite
    Definately stay away from YES loans.
    --><-- Sugar Coated Owl --><--

    If you believe, you will survive - Katie Piper

    Woohoo! I'm normal! Gotta go tell the cat.
  • kevsam65
    kevsam65 Posts: 330 Forumite
    Oh dear.......i do wish i'd discovered mse sooner!! :(

    a few months back we were pretty desperate and contacted "yes" , gave us a load of rubbish on the phone , oh yes we'll be able to source you a loan blah blah.stupidly sent off a cheque for £50 , no loan was forthcoming.

    Hubby just phoned them to say as you havent got us a loan , i want my money back........they're being very obstructive , saying we didnt read t&c's properly , and basically we're not getting it back.:mad:

    absolutely fuming..........off to trading standards website now.

    sam.
    :T Thanks to all the comps posters :T
  • please stay away from yes loans, i sent my 50 pound off last year and learnt the hard way. just google them for reviews and you will see what i mean.
    good luck x
  • JoeK_3
    JoeK_3 Posts: 1,374 Forumite
    Lucy, pm me your details

    JoeK
    I am an Independent Financial Adviser.
    Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.
  • joeblack066
    joeblack066 Posts: 1,757 Forumite
    I got my money back from them last year. Push it and they get scared and send it back.
  • kevsam65
    kevsam65 Posts: 330 Forumite
    quick update......went to the trading standards website , printed some stuff off....then phoned yes.....demanded to speak to someone in authority.After much arguing eventually got to speak to a supervisor......read the stuff i had got from trading standards , and said that i was quite prepared to take it further.Anyway , the upshot was that he went and got his manager , who came on the phone and basically said we're right and you're wrong but we cant be bothered to argue with you so we'll send a cheque out!!:j

    Result !!!!!!!! Didnt think i was going to see that money again....and i certainly wont fall for anything like that again.!!

    sam.
    :T Thanks to all the comps posters :T
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