Representative APR question

gazzaman28

Hi all,
I applied for a Tesco loan of £15k over 5 years, the representative APR was 2.9% but the offered APR was 11.9%, which makes monthly repayments far too much for me. My question is, if I apply to borrow less money (or just as an example, if I apply to borrow the money over a shorter period of time) would that be likely to reduce the APR, or is that figure determined purely by my current credit situation as decided by Tesco?
Thanks.

[Deleted User]

Some lenders have different rates for different borrowing levels.

However, given the risk they've assessed that you represent, it's unlikely to shift it dramatically.

You may want to look elsewhere.