Sandy Posted October 5, 2009 Share Posted October 5, 2009 Hello folks, Just wondering if anybody would know a loan company the caters for somebody that's self employed (my mates been self employed for a year now but he is struggling to get a loan for a car with a decent interest rate) thanks in advance for any info Sandy Quote Link to comment Share on other sites More sharing options...
Sarnie Posted October 5, 2009 Share Posted October 5, 2009 His bank would be a good start as at least they will have access to his income/expenditure etc..........but generally you won't get as keen a rate...... Quote Link to comment Share on other sites More sharing options...
Sandy Posted October 5, 2009 Author Share Posted October 5, 2009 He tried them this morning for £6000 loan over 4 years he was offered one with a rate of 22% thought this was a bit steep. Has a good credit rating as well Quote Link to comment Share on other sites More sharing options...
ZMANALEX Posted October 5, 2009 Share Posted October 5, 2009 He tried them this morning for £6000 loan over 4 years he was offered one with a rate of 22% thought this was a bit steep. Has a good credit rating as well At 22% Sandy that would probably be an unsecured personal loan. A conditional sales agreement or similar will have a much lower apr but he won't own the car until the last payment is made. Any garage keen on a sale should be able to negotiate a decent apr with there finance company. A higher initial deposit also generally helps cut a deal in situations like this. Quote Link to comment Share on other sites More sharing options...
Sandy Posted October 6, 2009 Author Share Posted October 6, 2009 Cheers for the info Folks Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.