AA Loans

www.theaa.com/finance/finance_home.jsp

As you'd expect, AA loans are available for car purchases – but the AA also provides personal loans. For bigger sums the APR is one of the lowest available – 6.7% for loans over £20,000 – and the APR for smaller sums is a reasonable 7.2%. AA loans offer fixed repayments and optional payment protection.

About AA Loans

The AA have a big finance arm, which offers car insurance and now loans too. AA loans are available in two forms: car loans, and standard personal loans. Typical APRs are 7.2% for both products, although if you're borrowing more than £20,000 the APR drops to a very reasonable 6.7% - the lowest fixed rate we've seen.

AA loans will deliver your cheque in 24 hours (although the small print – rather sneakily – states that if you go for this option you'll pay an extra £45 on your first payment), and if you go for the car purchase option you'll get a free AA inspection of the vehicle too. Both products enable you to borrow from £1,000 to £25,000 and repay over a period from 1 to 7 years, and payment protection is available for a small extra fee.

As with other lenders, the rates for AA loans are higher if you borrow smaller amounts: the typical APR for a sub-£5,000 loan is 10.9%, while anyone borrowing less than £3,000 can expect an APR of 14.9%.

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