Go Car Credit

Go Car Credit is a popular option for people in need of money to buy a car. However, they are expensive and not always the best solution for someone in need of money to buy a car.

Go Car Credit is a finance company that specialises in providing car finance solutions to people with bad credit. They offer loans for people who are struggling to get finance from mainstream lenders. While this may sound like a good thing, it comes at a cost.

In terms of interest rates, Go Car Credit offers loans with rates of up to 49.9%. This is an extremely high rate and can add significantly to the purchase price of a car. For example, if you take out a loan for £10,000 over 5 years at an interest rate of 49.9%, your monthly payment would be around £250. Over the course of the loan, you would end up paying over £15,000, which is a huge amount.

This is why some other ways of buying a car may be better. One option is to save up and buy a car outright. This will take longer, but it will save you a lot of money in the long run. Another option is to get a loan from a traditional lender, such as a bank or credit union. These lenders often have lower interest rates than Go Car Credit, which can save you money.

It is important to note that not all bad credit car finance companies are as expensive as Go Car Credit. There are other companies that offer more competitive rates, so it is worth doing some research before deciding which finance company to use.

If you have already taken out a loan with Go Car Credit and are struggling with the repayments, you may be able to get help. There are companies that specialise in helping people claim compensation for mis-sold car finance agreements. This can include getting a refund for any excessive interest and charges that you have paid. To find out more, you can visit https://carloanrefunds.redbridgefinance.co.uk/go-car-credit.

In conclusion, while Go Car Credit can be a quick and easy way to get finance for a car, it is important to consider the high interest rates and the long-term cost. Other options, such as saving up or using a traditional lender, may be a better solution. If you have already taken out a loan with Go Car Credit, it may be worth exploring your options for compensation.