Has anyone used Amigo Loans?

CadburysGirl_2

CadburysGirl wrote: »

I wish that was an option! I have to regularly make 100+ mile journeys with lots of 'luggage' and my dog!? Train and bus are not an option either as I live in a rural village and where I work is in the middle of nowhere too!? :0# Shame, I would quite enjoy a moped. It was a good idea!

Am sitting here chuckling to myself now at the thought of my little dog in a crash helment and goggles in a basket on the back of a moped! Thank you for brightening my day! :rotfl:

gb12345

CadburysGirl wrote: »

Am sitting here chuckling to myself now at the thought of my little dog in a crash helment and goggles in a basket on the back of a moped! Thank you for brightening my day! :rotfl:

Forget the basket, you need a trailer for him/her.

Apples2

Am I the only member of MSE who doesn't live in a rural village completely cut off from Public Transport?

Guarantor loans are pittiful products, I rate them worse than Payday Loans.

The whole product is designed to dump a ridiculous debt onto someone naive enough to not understand what on earth they are signing up for.

OP - WHY are you considering a guarantor loan over the option of getting your parents to take a loan out in their own name?
I'm confused at your statement you don't want to involve your parents but you are still talking about Amigo.

It makes no sense whotsoever to continue down this obscene path of guarantors. Your parents may become the next victims of circumstance.

We see a whole load of posts about pensioners taking on loans with no more than a pension income, Mis-Sold comes the cry....

gb12345

Apples2 wrote: »

Am I the only member of MSE who doesn't live in a rural village completely cut off from Public Transport?

I used to, but I now live in the middle of the city with bus and tram stops a 2 minute walk away.

Totally agree with your other comments though - ifthe parents are going to be involved and are fianncially stable as the OP says then it is far better for them to get a low APR loan than be guarantors for a insane APR loan. Will also save the OP (or her parents if she can't pay) a lot of money.

OneLife_OneShot

Just don't do it to your parents. Have them get a loan from their bank and you repay them or don't do it at all. Save up. Carpool. Anything is better.

Netwizard

If money is tight, why spend 2-3k on a car when you can get just as good a car for £1k or less!

iolanthe07

no more than a pension income,

There is a common held belief that pension incomes are low, and so they are for many pensioners. But there are lots of pensioners with index linked public pensions (long serving teachers, senior civil servants, retired armed forces officers, police, firemen etc.) who have very generous pension arrangements. I myself retired two years ago and my net income is now about the same as my last year in work. This is because of wife's and my state pension, no national insurance to pay, no commuting costs, higher tax allowances, winter fuel allowance, and so on. The OP's parents may very well be in a good position to underwrite the loan. I do agree, though, that these high interest 'guaranteed' loans are a very bad idea.

Apples2

Don't disagree with that.

I have a forces pension after serving 23 years which pays quite well, I am now on a new career with a new pension. When I retire I will have three pensions.

No intention of repaying any of.my kids stupid loans out of them though.

KingElvis

These loans count on the taker being finacially feeble and they bank on you deafulting (which you will) and some other poor sap who's a responsible person footing the bill.

Only inflict this on your worse enemy.

Peelerfart

bargainbetty wrote: »

Now the weather is turning a little warmer, have you considered a moped for a few months?

Heck, you can buy a brand new one with a year's insurance and a crash helmet thrown in for £600.

These kinds of moped are chinese built crud,you don't get a test ride you get a test push!



And as for the helmet.......Noooooooooo !