8k loan

LE74

My car died this week and I need to replace it as quickly as possible. Any suggestions on the best loan provider to borrow 7-8k from? I can probably afford around 200 per month on repayments.

nidO

If you have a decent credit history, P2P lenders such as Zopa/Ratesetter may be worth a look (you'll probably be looking at a loan over 4 years for that amount repaid at under £200 a month)

19lottie82

How much do you earn?

How long have you been in your job for?

Are you on the electoral register?

Do you have any other debt?

What's your credit history like? Any defaults or missed payments?

DCFC79

nidO wrote: »

If you have a decent credit history, P2P lenders such as Zopa/Ratesetter may be worth a look (you'll probably be looking at a loan over 4 years for that amount repaid at under £200 a month)

Would have to be better than decent for Zopa, it would have to be pretty dam good for Zopa.

Tixy

Your own bank may well be the best place for getting a loan quickly - if speed is the most important thing.
That is assuming you have run your bank account well, have a good credit history and they think you can afford repayments.

LE74

As far as I'm aware my credit history should be clear. I have no CCJs.

I have a FT job and a good work history.

I have a couple of credit cards but with no more than 1000 on them in total.

The only other loan I have is my mortgage.

I would only want to be paying around 200-250 a month so I'm guessing I'd be looking at 3-5 year loan.

MEM62

LE74 wrote: »

As far as I'm aware my credit history should be clear. I have no CCJs.

I have a FT job and a good work history.

I have a couple of credit cards but with no more than 1000 on them in total.

The only other loan I have is my mortgage.

I would only want to be paying around 200-250 a month so I'm guessing I'd be looking at 3-5 year loan.

A five year, £8K loan commitment on an asset that will drop in value like a stone. You might want to re think that. Even if affordable it is probably not the soundest of financial decisions.

If you do decide to take the plunge a lot of the personal finance contract / leasing deals that are popular at the moment appear to be a good option. Not looked into one myself but my nephews and sister use them and believe them to be good value and flexible.

Takeaway_Addict

Do you need to borrow that much?

1DayAAT

Tesco or Sainsburys.
If you are approved (and the rates are good) you will get the money within a couple of business days. A week in total from start to finish.

I have a £7000 loan with Tesco over 2 years (605 p/m) and a £5000 with Sainsburys over 5 years (repayment £100 p/m). Both have been easy and good companies to deal with and top of the charts for low APR.

Sinhanada

MEM62 wrote: »

If you do decide to take the plunge a lot of the personal finance contract / leasing deals that are popular at the moment appear to be a good option. Not looked into one myself but my nephews and sister use them and believe them to be good value and flexible.

Can't agree more here. If you're looking at spending £200-£250 then I'd suggest leasing or approaching a main dealer and looking at a new car - more affordable than you think

Herzlos

Much more car for your money with an older buy, and a slower depreciate curve.

1DayAAT wrote: »

I have a £7000 loan with Tesco over 2 years (605 p/m)

Are you sure? that's paying back about £14k for about 50% apr?