What are the advantages of short term loans?

Imagine you’re off to work and your car won’t start. It’s only half way through the month and the bill to get it fixed is £500. You don’t have savings or that level of spare cash just hanging around. Your credit record is OK, but you’ve got no buffer like an overdraft or a credit card. What do you do?

You can ask family or friends for a loan, which can be a lifesaver in these kinds of situations. You can take on more shifts, but that will be difficult without your car. And you’ve got nothing of value to sell. A short-term loan can help in this kind of scenario and applying online is easy and takes a matter of minutes. If you’re approved, the money for the car repairs can be with you right away, so you’re bank on the road in no time.

Repaying short-term loans has become more flexible as well. Gone are the days when there were no options other than repaying the full loan in one lump sum on your next payday. These days, lenders like us help you spread the cost of the loan over several months so you don’t leave yourself short when repaying.

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Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%. 

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