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My partner just applied for a loan from Sainsbury's and they offered 9.3% Apr. They said they do a price promise if you can find a better rate. Anyone know if it's worth checking another lender… Read More
joxeruk2000 Avatar
2m, 3w agoPosted 2 months, 3 weeks ago
My partner just applied for a loan from Sainsbury's and they offered 9.3% Apr.

They said they do a price promise if you can find a better rate.

Anyone know if it's worth checking another lender or just sucking it up and taking that offer?
joxeruk2000 Avatar
2m, 3w agoPosted 2 months, 3 weeks ago
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(22) Jump to unreadPost an answer
Responses/page:
#1
9.3% is high.

What's the loan for? How much? And how long do you need to repay?
#2
Saving up is 0%
#3
PulisOut
Saving up is 0%


You go save up 13000 you moose. You borrow because you can't afford something outright.
#4
xeroc
9.3% is high.

What's the loan for? How much? And how long do you need to repay?


Car
#5
Someone pass the popcorn.......
#6
joxeruk2000
xeroc
9.3% is high.
What's the loan for? How much? And how long do you need to repay?
Car

Oh dear...
#7
Forget the loan get a lease car, Better then paying the 9.3% interest and depreciation
#8
car finance should offer more competetive rates provided you dont mind the fact you wont 'own' it until all the payments are made
#9
Use a comparison site
#10
Lloyds Bank

3.4% to 4.4%

This representative APR applies to loans of £7,500 to £25,000 over 1 to 5 years. Other loan amounts between £1,000 and £50,000 are available at different rates. If you qualify for a loan we'll tell you the rate that applies when you get your personalised quote.
#11
Sainsburys

Sainsburys are quoting 3.0% so unless the borrowers a credit risk or the term is longer it does look like they are ripping you off.

Edited By: Dawsy on Jan 26, 2017 21:39: edit
#12
this is standard though, they advertise a rate and when you enter your details you don't match the criteria and have a different figure... I have been there so take it from me: can you be bothered to shop around? are you happy with the payments ? can you afford it? if you need 13k and haven't burrowed before or it's been so long then you won't get 3%
#13
markvirgo
Forget the loan get a lease car, Better then paying the 9.3% interest and depreciation

+1
#14
t3rm3y
this is standard though, they advertise a rate and when you enter your details you don't match the criteria and have a different figure... I have been there so take it from me: can you be bothered to shop around? are you happy with the payments ? can you afford it? if you need 13k and haven't burrowed before or it's been so long then you won't get 3%


I have two lots of car finance in my name but my missus has not been in work for a year yet after completing her degree. One of my car finance payments will be gone when I part ex it. So hopefully there will be options down the line for me to pay of the balance using a better rate.
#15
Interest free credit card that lets you do a cash transfer like mbna or virgin
#16
Sounds like you got a c.r.a.p credit score and are deemed a high risk. Interest rates are at an all time low for loans and savings. 9.3% is terrible and suggests your rating is to blame.
#17
BagABargain78
Sounds like you got a c.r.a.p credit score and are deemed a high risk. Interest rates are at an all time low for loans and savings. 9.3% is terrible and suggests your rating is to blame.


I think you mean my partner has since I never applied for the loan
#18
joxeruk2000
BagABargain78
Sounds like you got a c.r.a.p credit score and are deemed a high risk. Interest rates are at an all time low for loans and savings. 9.3% is terrible and suggests your rating is to blame.


I think you mean my partner has since I never applied for the loan


Whoever. I'm just offering a reason for the high rate in answer to your OP.
#19
Outrageous.
Just got a zero percent balance transfer from them for 2.9
Check out Martins Moneysaver Site for serious information.
#20
If unemployed what is wrong with a cheapy - eg. old Micra £500 ??
#21
zzzz
If unemployed what is wrong with a cheapy - eg. old Micra £500 ??


People always want what they can't afford. He already has two car loans and his partner has a poor credit score. I agree, he should either buy a cheap small car. Or save up his pennies till he can afford the car.
#22
BagABargain78
zzzz
If unemployed what is wrong with a cheapy - eg. old Micra £500 ??


People always want what they can't afford. He already has two car loans and his partner has a poor credit score. I agree, he should either buy a cheap small car. Or save up his pennies till he can afford the car.


I have a 63 plate zafira but after both recalls it's still smelling of burning when the heaters are on. Vauxhall don't care. I don't trust it with my family. It's my choice to finance a car. But thanks for all your top tips.

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