Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

    • rlang
    • By rlang 12th Apr 18, 7:41 PM
    • 1Posts
    • 0Thanks
    Loan companies for poor credit rating
    • #1
    • 12th Apr 18, 7:41 PM
    Loan companies for poor credit rating 12th Apr 18 at 7:41 PM
    Can anyone recommend loan companies for poor credit rating?
    We have had a difficult couple of years and as a result have a poor credit rating. However, now our financial situation is improving as we have gained employment and have a steady income with money spare each month. We need a newer reliable vehicle for commuting to new employment as we are rural and not on public transport routes.
    We've used the loan calculator on this site, but they all come up with 'good credit ratings' requirements.
    Any ideas?
Page 1
    • zx81
    • By zx81 12th Apr 18, 7:46 PM
    • 20,688 Posts
    • 22,120 Thanks
    • #2
    • 12th Apr 18, 7:46 PM
    • #2
    • 12th Apr 18, 7:46 PM
    If your current vehicle is still running, keep it and save up a few hundred for a new one.

    How much are you saving each month?
    • venison
    • By venison 12th Apr 18, 8:15 PM
    • 2,848 Posts
    • 3,499 Thanks
    • #3
    • 12th Apr 18, 8:15 PM
    • #3
    • 12th Apr 18, 8:15 PM
    With a poor credit "history" you will probably only get a loan at a high APR, have you tried your own bank?
    Brexit here we c................crash.
    • Tarambor
    • By Tarambor 13th Apr 18, 5:25 AM
    • 4,519 Posts
    • 3,455 Thanks
    • #4
    • 13th Apr 18, 5:25 AM
    • #4
    • 13th Apr 18, 5:25 AM
    Unless you're going to be buying something a couple of years old you cannot guarantee reliability. Instead of setting fire to money in interest put aside the money you would have spent on a ridiculous high APR car loan and use it to repair the current car and save for a newer one. It is pretty much never cheaper to replace the car you have than repair it even if you spend 1000 a year in repairs.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

242Posts Today

2,500Users online

Martin's Twitter
  • RT @theresa_may: I?m pleased that we are banning all GPs? charges for forms relating to mental health and debt. I?d like to thank @mmhpi fo?

  • Currently 52% in favour of self service checkouts, 48% staffed checkouts. I'm not saying a word!

  • RT @chihuahuamammy: @MartinSLewis Just rang the Student Loans Company following your show. A refund of £395 for overpayment. Not early reti?

  • Follow Martin