Amigo Loans Question

Apples2

27col wrote: »

As someone has already said, it would be cheaper for you to take out a loan in your own name, because that is effectively what you are proposing, but at a much higher interest rate.

The most remarkable thing is that neither of these two sub primes even NEED a loan.

This is solely to "improve" a credit file.

A £2000 loan on Amigos Website suggests repayments of £97.58 per month over 36 Months. Total repayable £3,512.58.

If all goes swimmingly well, these two are going to pay £1,512.88 JUST TO GET A GREEN TICK ON A CREDIT FILE!!!

Now let's factor in the enevitable missed payments, defaults, fees and breakup of a good friendship the whole post deserves a multiple facepalm that people can be so daft.

Brains64

I would have thought the whole idea of "Guarantors" is crazy and yet Amigo Loans seem to be making it work somehow, their reviews are not brilliant but not much worse or better than most of the other lenders and the fact that they are still going and taking out expensive TV advertising suggests that there are plenty who go for it:shocked: