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Car loan foe someone who is self employed


Sandy

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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

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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.

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