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Loan guarantee
Good morning. I ran the eligibility check on the website to see if I qualify for a loan. Got given a 8.4% APR, but I had to click car purchase as an option. Agreed to it, went ahead and on the lender's website, there was an option under 'Other' of 'Purchase another vehicle'. I am getting the loan to buy a motorcycle. My APR changed to 10.2% from 8.4%. Is that right? I thought there was an APR guarantee. Many thanks
Comments
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What eligibility checker did you use?
The lenders own or a third party one?
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I used the one on Money Saving Expert
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So an indicative rate only.
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Not really. It does say guaranteed rate
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The rate is only guaranteed if you use the same details. If you've changed the purchase reason then the rate may change.
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