Can I Obtain A Car Loan While on Disability Benefits?
Hi, I'm Disabled and have been for over 17 years. I receive £1763.56 a month in various benefits. My award is for life. I've been offered 2 loans both for £4000 over 4 years. BUT I believe they are related to Mr Robin Hood, why? Because the both want OVER £8000 to be paid back, that's 100%. I don't mind anyone making a profit but surely this is well over the top, isn't it. Does anybody know of a company that will accept DISABLED PEOPLE or is this the norm? I have a bank account and two credit cards (with very little on them). Anybody got an ideas for a loan company that is reasonable towards Disabled people, or is this the norm? Kim
September 3, 2014
Hi Kim, thank you for your question. There are indeed finance companies that accept disabled people who receive benefits as their sole form of income. Who are the 2 companies you have applied with to receive the high rates of interest? Have you tried with your bank? As you have a bank account and 2 credit cards you have some credit history which is great. The rate you usually receive is determined by your credit rating. Have you checked this lately or have you missed any payments in the past? If not, we'll be able to help you and as we have many lenders on our panel i'm confident we'd get you a good rate. However, as previously stated this all depends upon your past credit. Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel