The Very Best Loans with Loantra

Short-Term Loans

Apply Today to Borrow up to £995

*Online decision

*Responsible lenders

*Rates from 278% to 1576%

*3-12 month repayment

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Personal Loans

Apply Today to Borrow up to £25,000

*Instant Decision

*60-Second Application Form

*Rates from 4.7% to 278%

*3-36 month repayment

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What Loantra can do for You

Alternative Solutions

You may want to start by looking for other ways to get car finance than through the lender that turned you down. There may be lenders who will provide that money for you even though your credit isn’t very good. You may have to put some collateral down or prove that you have a steady income, but if you look hard enough, you should be able to find someone who will finance your car.

Just be careful about the interest rates. If you go for any bad credit loans, the interest rates tend to be quite high. Paying these off quick is the key to saving money, but you may be better off just avoiding them altogether.

Build Your Credit

The best solution, though not necessarily the fastest, is to build your credit over time. If you have never had any credit to your name before, then there are some simple steps you can take to start building a history. You can open a bank account and start making deposits and withdrawals and payments from that account. So long as you don’t experience overdraft fees, you can build your credit easily this way. Your bank may also allow you to take out a small loan, once you have proven to be a reliable customer. That’s another great way to build your credit rating. If you set up direct debit on your account, it can also serve as a credit builder. You can use this to automatically pay off debts each month, such as your electric or gas bills. Just be sure you have enough money in your account to cover those expenses. You should only opt for this method if you have steady and reliable income.

If you have bad credit, then you may have fewer options available to you. You can still use some of the same methods, but your best bet is to work on the bills you have and make sure you are making payments on time. For many of your expenses, so long as you make at least some payment, you cannot be reported to the credit bureau. That means you won’t get a bad mark on your credit score. Still, try to make payments in full and on time every month to reliably build up your credit.

You can also apply for a credit card and use it regularly to boost your credit. You need to make sure you are paying it off each month as you use it to avoid racking up charges and to improve your credit score.

These are just a few ways you can work toward building up your credit score and finally being eligible for car finance loans. You may want to look into further measures you can take so that you can achieve your goals faster.

See How We Compare to Our Competitors

Loan amount
£500 - £20,000
Loan term
12 - 60 Months
CUSTOMERSCORES
Good
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Loan amount
£500 - £100,000
Loan term
1 - 18 Months
CUSTOMERSCORES
Excellent
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Loantra is a licensed credit broker and not a lender.

We will never charge you for our service and the lender will not increase the rate to cover our fee to them.

We work with over 40 different lenders to bring you the very best rates from across the UK market.

Representative 305.9% APR. Representative example: £400 borrowed for 90 days.

Total amount repayable is £561.92 in 3 monthly instalments of £187.31.

Interest charged is £161.92, interest rate 161.9% (variable)

Warning: Late repayment can cause you serious money problems. For help, go to moneyadvice.org.uk.

Do not borrow more than you can pay back as defaulting on payments can lead to serious monetary problems.

Any collateral you have against the amount may be at risk of repossession.

5 most recent personal loan reviews

Review of Natwest

My personal loan from NatWest was planned in advance because I like to do plenty of research before committing to something as important as a building extension. I wanted to make sure the loan would be possible and that it was at a competitive rate before I started employing architects and builders. I was in regular contact with our local branch’s loan adviser and they finally sorted out a very good loan for me and once that was agreed I got on to the job of planning this extension. We’d already had the go ahead from the local council so it was all systems go once that all important loan was finalised. Sometimes it’s best to deal with your own bank for such an important loan and I am pleased that I entrusted NatWest with my loan.

Review posted by Wayne Crouch, Plymouth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of U Switch

In our position your company treats us well. We have the income but unfortunately due to circumstances beyond our control our credit rating is bad. Thank you Uswitch for giving us a chance.

Review posted by Neil Morrison, Perth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Wonga

Suprised at ease of application. Never wanted to use these kind of things but had a very tough month and needed a few pounds before payday. After checking different options I found the small amount to payback manageable and it’s all payed back 2 days after payday. Easy process with quick response.

Review posted by Anthony Bell, Chelmsford

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

All reviews have been sourced from Trust Pilot to ensure authenticity of testimonials.