Personal Loans, Guarantor Loans, Homeowner Loans & Quick Loans with Bad Credit – Everything You Need To Know
Getting a loan for the first time can be a daunting experience. What to do when considering a loan for a car or even a renovation project on your home! Credit4All has teamed up with the direct lenders and comparison sites which means you get the best deal. This page is designed for people looking for quick loans with bad credit, but we do cater for everyone who is looking for a loan whether you have good credit, are self employed…it doesnt matter – there is something here for all.
If you need a loan up to the value of about £5,000 then usually the best option is an ‘Unsecured Personal Loan‘. This is the most common type of Personal Loan and usually what people opt for when taking a loan out in order to buy household appliances, renovation work or buy a car. These are just a few examples but perhaps you have a history of bad credit and are looking to get a loan for few weeks then these option are likely to be your best bet.
How it works is that the loan you borrow is not secured against any assets that you own. Whilst you are responsible for the repayments, the lender does not have a legal right to come claim your car or house. If you do fail to keep up with payments though, you could ultimately end up in court so best try keep on top of them.
If you are interested in a ‘Secured Personal Loan‘ then your options are to check out the Secured Loans section above or a Logbook Loan which is a loan secured against the value of your car. Interest Rates on these loans are actually worse than on an Unsecured Loan so only really advisable if you are unable to get a loan above. In this case then using the value of your car to secure the loan could be a good backup option. We have access to some of the best quick loans with bad credit ok.
Quick Loans with Bad Credit
The majority of the time, people are in need of money fast. So if you are in the unfortunate position of looking for quick loans with bad credit, then do not fear. We have you covered and there are many options open to you.
Just use our search table above (or below) and you will find a selection of loan brokers to cater for your needs.
Buying a car is usually the second most expensive thing people will borrow money in order to buy behind a mortgage on a house. Fortunately for you, if you are looking to get credit to finance a car then Car Finance is a great option.
By applying for Car Finance and getting approved you will be granted a limit to go shopping for a car within that limit from a large list of Car Dealerships Nationwide. This is a very popular method of purchasing a car as you do not need to make up front payments or a large deposit.
If you are looking for car finance with bad credit then we can certainly help. Credit4All works with companies that assess your personal circumstances so if you are struggling to get credit because you are unemployed or on benefits then there are still options open to you. You can add a guarantor (see below) or co-hirer if they have good credit history and this will help you to attain car finance with bad credit.
As mentioned above, when applying for a personal loan or car finance with bad credit you may have difficulty getting approved. One of your best options is to look to Guarantor Loans.
If you have a parent or sibling (or truly good friend!) that will be your guarantor then they become legally responsible for the debt in the event you do not keep up to date with your repayments.
This should not be viewed as an opportunity to get a free loan and do a runner…(that person is not likely to forgive you lightly) but instead it hopefully opens up the door to securing credit when you would otherwise have not been able to get it. Take this opportunity with both hands as it can also improve your credit if you keep up with all the repayments. Other lenders are likely to look at you in a better light in the future and you can start rebuilding your credit history.
Checking Your Credit Score
Most lenders will perform a credit check on you before lending you the money you have applied for.
If you are unsure of your credit score, then it is a good idea to check on this before applying for a loan. You can do so for Free with Experian, Equifax and CallCredit
If you know that you have a poor credit history then you should stick to the companies that will still consider you for a loan despite your poor credit. Just because you have a bad credit history, this does not mean that no one will lend to you.
It just normally means you have to jump through a few extra hoops. Obviously everyones credit score is different and circumstances are unique so there is no black or white rule.
If your credit history is really bad then you may want to rebuild your credit.
The Application Process
The application process for all the companies that Credit4All have partnered with are extremely straightforward. In most cases the application takes no longer than about 10 minutes to fill out and very often if successful the loan will be paid straight into your bank account in as quick as 15 minutes.
It is as simple as choosing which company appears to be the best quick loan with bad credit match for your needs and clicking ‘Apply Now’ which will take you straight to the application page. Fill out the extremely quick and easy form and you should have access to your loan almost immediately. In some cases depending on the company and the loan amount, it can take a bit longer but they are usually processed on the same day.
Good luck, we hope you have found this helpful!