i am looking for an opinion of the welcome finance group. is it a scam or legitimate.
2007-02-19 19:19:40 · 10 answers · asked by Anonymous in Business & Finance ➔ Credit
I have a Welcome Finance unsecured loan and they have been ok for me. I went to Welcome as i had a really bad credit rating and it was a last resort. The APR is extortionate but that is to be expected if you have bad credit.
All i would say is try other companies first and use them as a last resort but this is only due to the high interest.
2007-02-19 22:51:23 · answer #1 · answered by Anonymous · 0⤊ 0⤋
A friend of mine got her car on finance through this company. It is legitimate. But the interest is way over priced. If theres no other way to get finance for you then by all means go with the company but shop around first. They are part of Shopacheck finance i cant remember if they own them or the other way round. My mate didnt pay for her car after the first 2yrs and they never got in touch with her over the payments and thats almost 3yrs ago. Bit naughty but there loss.
2007-02-19 19:24:26 · answer #2 · answered by spensmum 4 · 0⤊ 0⤋
My husband and I got a car through Welcome finance as ours broke down an needed a new one quick I wish we never went to them the APR was very high for one but the car had loads of faults with it even though it was 18 months old. I rang them up and said I wanted to bring the car back and named all the reasons why and the manager said I couldn't cause all the finance had gone through then said I had to change the car for another of there's and couldn't cancel the finance agreement. After 10 days of calls to them and Trading standards they finally took the car back. I would NEVER NEVER recommend anyone to go to them they are a bunch of con artist cowboys x x x
2007-02-19 19:38:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I truthfully have a private loan off Welcome finance from some years in the past while such as you we had no decision and had to borrow from them. we won a cost of 14% nevertheless so i'm unsure if each little thing would be an identical yet it incredibly is what occurred with us. you will recieve paper paintings for the time of the positioned up that then you sign and deliver lower back. they'll then do the whole credit seek yet as you have already been nicely-known in theory i does no longer difficulty approximately failing this, particulary as you have been quoted a decrease APR. Our cheque took approximately 4 weeks from the preliminary phonecall to reach. regardless of the undeniable fact that ours became right into a secured own loan and yoi do no longer say if yours is. If no longer your money will come by lots swifter than this as there is no longer as lots criminal stuff to bypass by. wish this facilitates. P.S. the only subject we had with Welcome Finance is that as quickly as we've been finally in a positon to pay of the non-public loan, they are incredibly reluctant to offer a redemptin parent. We ended up sending a request sent recorded delivery as they persevered to forget approximately approximately all our different requests. aside from that we've had no difficulty in any respect. sturdy success
2016-11-24 19:41:38 · answer #4 · answered by kemmer 4 · 0⤊ 0⤋
Yes i bought a car with them about 6 years ago. Took 4 years to pay off at about £400 per month - cost me an absolute bloody forturne. The APR at the time for cars was about 27%. this is complete extortion, and although it is legal and they are legitimate, i would recommend to stay well clear. Get a credit card and pay 13.5% or better get a bank loan and pay only 5 or 6%
2007-02-19 19:38:58 · answer #5 · answered by sambucaman 3 · 1⤊ 0⤋
If this 'option' came to you in a spam email or spam letter don't do it == it's a con.
There is a Company with that name, however they seem to specialise in loans to those at the bottom of the pile and (at they rates they are charging) plainly they have a massive number of defaults ...
If you went to them, you must be desperate - go to Citizens Advise = an IVA is what you need, not more debt that will end up with you loosing your house...
Just look at the link below - they state "Secured loans: Typical 21.3% APR" ... this is unbelievable !!!
Your Credit Cards are likely to be cheaper - and won't end up with costing you your home.
2007-02-19 19:30:46 · answer #6 · answered by Steve B 7 · 0⤊ 0⤋
they are legitimate but well over charge on the interest rates and the second hand used product you are seeking finance on is over priced too! so you loose out all ways. you have to be desperate or foolish (as I was) to sign up with them
2007-02-19 19:29:00 · answer #7 · answered by karen464916 4 · 0⤊ 0⤋
Yes, they are a good company to deal with if you are desparate. I know someone who took out a loan and then lost his job some weeks later. They reduced the monthly payments as much as they could for him, but of course, he had to pay for a longer time.
2007-02-19 19:28:06 · answer #8 · answered by Angelfish 6 · 0⤊ 0⤋
legitimate but a very high apr
2007-02-19 19:22:36 · answer #9 · answered by Anonymous · 0⤊ 0⤋
would.nt touch them with a barge pole
2007-02-19 19:28:05 · answer #10 · answered by lisa s 2 · 0⤊ 0⤋