At Carfinance247, we work closely with a panel of specialist lenders in order to find the most suitable deal for our customers. One of these lenders is Amigo Loans who offer guarantor loans. This type of car finance may be suitable for people who have less than perfect credit histories and who are having difficulty getting finance agreed elsewhere.Who are Amigo Loans?
Amigo Loans are the UK’s largest guarantor lender, and are based in Bournemouth, Dorset. They are part of The Richmond Group and took the name Amigo Loans in 2004. You may remember their TV adverts from a few years back featuring moustachioed, sombrero wearing Mexicans, making a play on their name – Amigo (which is Spanish for friend).
- their guarantor loans work on the basis that they will consider lending you money if you have someone who can guarantee that the loan will be repaid. This can be anyone, but is typically a family member or close friend who is a homeowner;
- in some cases, even if the guarantor (ie. the person guaranteeing the repayment) is a tenant, they may be considered;
- they pride themselves on doing banking as it was done “in the good old days” – basing decisions on a relationship and trust;
- Amigo Loans say they are regularly featured by price comparison sites as the cheapest option for anyone borrowing £500-£5000 with a low credit score;
- unlike some other finance providers, they do not charge additional fees for late payments or early settlement;
- Amigo Loans also report to the UK s leading credit agencies on a monthly payment to say your payment has been received. This means that for people with a poor credit history, they can start to rebuild their credit history
Amigo Loans have also won several prestigious awards including The Sunday Times’ Best Company to Work For Award and we are very pleased to have them on our panel.