The Problem with Payday Loans

It’s easy to succumb to the lure of “quick cash” or “instant cash”, otherwise referred to as payday loans. Especially when there are so many ads on TV for them. They make it look so easy, yet therein lies the problem – easy access to “fast money” using payday loans means high interest rates and a slippery descent into debt.

One of the major problems with payday loans is that once you get one or two of them on your credit file, you will then have great difficulty getting a low interest rate car loan with any of the mainstream lenders.

Our advice is that if you’re thinking of buying a car, apply for a car loan instead.

Name the car you’re after & we’ll help you find the best deal on that car complete with finance!

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With our extensive network of car dealers, independent brokers and lenders we’ll help you find the best car deal for the car you’re after that combines both the car and the finance, so that you can save time and money.

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What is a Car Loan?

A car loan or car finance typically refers to a secured asset loan where the car itself is the security, making it less risky for the lender and a lower rate for the borrower. Thus a car loan is often a better way to go than an unsecured personal loan in terms of having much lower repayments.

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