Online bad credit loans with guaranteed approval have transformed the financial lives of the poor credit score customers in the UK. Now, you can easily get any loan irrespective of your credit score. With these easily accessible funds, you efficiently manage a financial crisis and gain long-term financial stability. Thanks to the FinTech, numerous deals on these loans are available online with different APRs and terms. Picking the cheapest deal is a tricky task that requires you to dedicate some time, but it can save hundreds of pounds on the APR depending upon the availed amount.
Let’s have a quick look at the secret tips to get the cheapest deal on the guaranteed bad credit loans:
1. Do Extensive Research
If you are in the midst of a crisis, then doing extensive research is tough. However, for the sake of saving money, you should use the power of the Google and look for the best credit lenders in the UK. You can search by typing any of the following keywords – credit lender in the UK, credit lenders in the UK, bad credit lenders in the UK etc. Look for the top searches but never trust the paid ads that run on the top of the Google search page.
2. Play the Comparison Game
The Google search results are in front of you. Now, check all the websites of the top credit lenders and compare their bad credit loans with guaranteed approval on various parameters, i.e. APRs, monthly interest rates, loan approval time, fund disbursal time, eligibility and more. If you are a novice to the lending world and feeling clueless, then you can also take help of various loan review websites.
3. Select Deals with No Credit Check
It is highly imperative to get quick funds without going through the credit check. Credit score evaluation requires you to submit the latest rating report and it costs you another few days of waiting. However, many online lenders are ready to take the risks and offer guaranteed funds without checking the credit score of the customers. These no credit check deals also discourage the practice of bad credit penalties and help a borrower to get cheaper funds.
4. Look for the Cheapest APR
APR is one of the factors that determine the overall cost of the guaranteed bad credit loans. Of course, you have to choose the deal with the cheapest APR but don’t forget to check the reliability of the lender. Many lending companies boast of offering the poor credit funds at the “cheapest APR” but in reality, they eat your pocket thankfully to their hidden charges. You can check the representative example to know the exact total cost of the loan.
5. Explore the Hidden Charges
You can’t get the cheapest deal until you explore and ensure there are no hidden charges associated with the chosen poor credit lending solution. Crosscheck with your lender whether there are any upfront fees or processing charges involved. If yes, then negotiate with him to waive off these charges.
6. Same Day Funds are Better
No situation can be as bad as when you have a poor credit score and suddenly you face a financial crisis with no pound present in your bank account. Every minute gives you terrible stress and you desperately look for the instant funds. Many reliable bad credit lenders in the UK offer same day lending solutions that are affordable and viable.
7. Terms & Conditions are Crucial
Many customers take the terms & conditions lightly and never read them properly. But, they never know some hidden surprises are waiting for them and can discomfort them anytime during the loan term. Always read each word of the T & C properly before applying for the loan. Confirm if there are any hidden charges. Don’t overlook any clause. Contact the lender and clear your doubt.
8. Ratings and Feedback are Helpful
The previous lending track record of a lender helps you to establish his credibility. Ratings and feedback given by the previous borrowers give you a rough idea about his lending policies, level of professionalism, and hidden charges. Don’t apply for a bad credit loan with guaranteed approval if the previous customers have written bad about the chosen lender.
A credible lender is a key to get the cheapest deal. If your provider is dedicated then you have better chances of getting the cheapest lending solution. Choose the right bad credit lender now!