any suggestions please

sineadl

my daughter has just graduated and has a job she wants to buy a car for 3500 and needs a loan she has asked her bank (the halifax) and they will give her a loan although its not a graduate loan - the apr will be 20percent - dont think she has a credit score as she is living at home - she has a credit card but no debts - any ideas where she might get a loan with lower apr?

countrygirl84

I used to be a loan advisor for Natwest and know that they do a good rate on graduate loans but you have to have a graduate account with them. So that doesnt help
To be fair, the less you borrow, the higher the interest rate. So you will find that £5000 may be around 13%, £10000 8% and so on. Companies like direct line, mint and tesco used to do low rates for lesser amounts but they tend to have a higher criteria for borrowing. So try a few quotes on the internet.
If she is really strugglng though, maybe you could take a joint loan to help her out a little? Although that would obviously mean that you're joint reliable for the loan.