Getting the right type of finance options that match your circumstances is crucial, that’s why there are many different types of loan products to choose from. If you are someone looking for car loans, you need to consider many aspects from whether you need a new or used vehicle, to whether you want to own or lease the car. Here at Fast Loan UK, whilst we do not offer this type of finance option, we can help provide short term loans and logbook loans that will cover emergencies as and when they occur.
If you suddenly need to cover a car repair bill that was unexpected, or you have a financial emergency that cannot be resolved by savings alone, we are ready to help. You can choose flexible repayment terms up to 8 months as a new customer and borrow up to £2,000 as a returning applicant. If you are interested to find out more, read about our short term options below, and click apply now if you are ready to start an application today.
Our Alternative to Bad Credit Car Loans
Whilst we are bad credit loan specialists, able to help those with a poor credit history get the funds they need, we do not provide this to cover a car purchase. If you are someone that has struggled to get approval when looking to borrow money in the short term, we are available online when you need us to apply for quick cash. If you are looking for bad credit car loans, there are lenders that can help, but you will need to ensure they provide a trusted service. We are fully authorised by the Financial Conduct Authority (FCA) to provide short term direct loans even for bad credit applicants. This means we won’t decline you just for having a history of bad credit. Whether you have had arrears payments in the past, loan defaults or even a lack of borrowing history, these can also cause your credit score to drop.
Our approach to instant loans is simple; if you can afford the repayments you want for the loan you apply for, there is a chance you could be approved. We do not use automated lending decisions, so applicants can apply with confidence they will be considered for a loan at Fast Loan UK. This doesn’t mean we provide guaranteed loans, but instead, allows us to help many more people that have struggled with other lenders.
How Can Fast Loan UK Help?
If you are not currently needing a vehicle loan, but your financial circumstances have been impacted by an emergency expense, we’re here to help. If you are approved, you could have the money you want within just 15 minutes in your bank account, so we always look to process applications as fast as possible whilst ensuring the loan is right for you.
Have to do is choose the amount and term of the loan you want and click apply now. From there, you can fill in our application and provide us with a few personal details before submitting it. As soon as you do so, we’ll assign a Customer Care Manager to your application. We don’t use automated decision-making at Fast Loan UK, instead, we take a human approach to lending. If they require any confirmation of details, they will call you which should take no longer than 5 minutes. If all is successful, you could be approved in an instant and receive the funds the same day.
Representative example:
Borrow: £500 over 16 weeks. 4 repayments of £183.59. Total amount payable £734.36. Interest rate: 151.4% pa (fixed). Representative 766.18.% APR.
Eligibility to Apply for a Car Loan Alternative
To apply online, you will need to meet the following eligibility requirements for our loans. By meeting the below, you will be able to submit your application and get a decision in principle without delay. You will need to be:
- Aged 18 years or over
- Current UK Resident
- Be in Full-time, Part-time or Self-Employment
- Receive a Regular Income
- Have a valid Bank Account and Debit Card
Please note, meeting the above does not guarantee you will be approved for an alternative to car loans and applicants are still subject to credit and affordability checks. If we cannot determine you can afford the loan you apply for, we will have to decline your application. As a responsible lender, we need to ensure by approving your loan application that it does not place you into financial difficulty. If you have bad credit, but your finances show you can afford the loan during an assessment, you could be successful.
Have any queries about our alternative short term option to bad credit car loans? Please get in touch with us and we’ll be happy to answer any questions. If you are experiencing financial difficulties, please visit Money Helper for impartial advice.
Useful Information Regarding Car Loans
Do Fast Loan UK Provide Second Hand Car Loans?
We are a direct lender of short term loans, so although we do not provide second hand car loans, we can help you in a short term emergency. If you’re struggling to cover an unexpected bill and are low on available funds or savings, a small loan from us can help quickly resolve your situation. A loan from Fast Loan UK is not suitable to cover the purchase of a vehicle or other non-essential expenses.
How Do I Apply for a Car Loan Alternative in an Emergency?
If you want to apply today, it’s simple to get started and complete an application. Just use the slider above to choose the amount you want to borrow, a maximum of £800 for new customers, and the repayment term, up to 8 months if this is your first loan with us. Once you have submitted your loan application, we can provide a decision in principle for our alternative to bad credit car loans in an instant. At Fast Loan UK, we can only provide short term borrowing to cover an emergency expense and you will need to pass credit and affordability checks first. If you do not have the ability to maintain the repayments required, we will have to decline your application.
How Quickly Can I Receive the Cash After Being Approved?
We process applications fast, so you can have the money into your bank account the same day if approved. If your bank supports Faster Payments, this could be as quick as within 15 minutes. Please note, depending on the time of day you apply, we may not be able to process your application until the next working day. However, most applicants receive the approved loan funds the same day as they apply, as long as all credit and affordability checks have been completed and our Customer Care Team have been able to contact you.