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Suco Car Loan Overview

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The table below gives you all the details you need to know when getting a Suco car loan.

What are the interest rates for a Suco car loan? Use the Suco car loan calculator to get a quick estimate of rates and repayments for your car loan. Input your desired amount and preferred loan terms to see how much your monthly repayments will be. You can also use the sliders to adjust the terms and see different scenarios.

Terms from 1 to 10 years. Representative example: 5 year £10,000 loan with comparison rates from 2.8% to 49.9% APR would cost between £10,728 and £27,321, including fees. The interest can vary between £728 and £17,321.

Suco car loans review

Suco offers guarantor car loans to purchase a new or second-hand vehicle. Unlike most banks, they do not require a high credit score to give you a loan. Borrowers only need to have a guarantor, like a friend or family, to vouch for them and affirm their eligibility.

Suco car loan features

Thinking of applying for a Suco car loan? Here are the key features and benefits to expect:

  • Loan amount and terms. Borrow £1,000 to £12,000 over 2 to 5 years.
  • Simple application. Apply online and get a car loan in as fast as 24 to 48 hours.
  • No fees. You will not be charged with any upfront fees or hidden charges.
  • Fixed rates. Pay the same amount monthly throughout your loan term with the same interest rate you were offered on your quote.
  • Good credit record is not required. You may apply for a Suco car loan even with a bad credit record or without credit records at all.
  • Flexible repayment options. Suco allows borrowers to repay their loans early.

How to apply for a Suco car loan?

Check that you’re eligible:

To qualify, you must:

  • Be at least 18 years old or older
  • Have a regular source of monthly income (employed or self-employed)
  • Present a guarantor

Your guarantor must:

  • Be 18 to 75 years old
  • Have a regular source of income
  • Be a homeowner in the UK
  • Agree to be your guarantor

What you’ll need:
Other than your personal and contact information like phone number and email address, you should also prepare the following when applying:

  • Valid IDs
  • Employment information and/or details of your income
  • Your guarantor’s information (including their telephone number)
  • Bank account details

 

Suco car loan calculator

Provider
Product Information
EST Monthly
Repayment
Interest
Rate
Repayment
Period
Loan
Amounts
Sort loans by

Loan Amount

£20,000

Term

60 months

Change
SUCO

SUCO Car Loans

SUCO Car Loans
EST Monthly Repayment
£425 Inclusive of fees
EST Monthly Repayment
9.99%
APR
EST Monthly Repayment
12 months
to 60 months
EST Monthly Repayment
£10,000
to £250,000
GO TO SITE
View SUCO's website for more details on their car loans
Featured
Carmoola

Car Hire Purchase

EST Monthly Repayment
£474 Inclusive of fees
Interest Rate
14.80%
APR
Repayment Period
12 months
to 60 months
Loan Amounts
£2,000
to £40,000
GO TO SITE
Carmoola's rates start as low as 6.9% for loans of between £2k - 40k over one to five years. Representative APR: 14.8%. Buy your dream car in minutes with Carmoola's virtual card, with a £0 minimum deposit. Carmoola is an entirely digital, app-based lender. No sales calls or paperwork! Take control and manage your loan in-app.

BestLoanRates.co.uk provides factual information in relation to financial products. While BestLoanRates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the product provider or publicly available information and, to the best of our knowledge, is correct at the time of publishing. The information published on BestLoanRates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product, you will be dealing directly with that provider and not with BestLoanRates.co.uk. BestLoanRates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information, please see BestLoanRates.co.uk's Terms of Use.

Minimum and maximum loan periods vary between 1 month and 10 years. APR varies between 2.80% and 71.30% p.a. Total interest repayments vary between £435 and £1,019 over the life of the loan. *APR is based on an unsecured loan of R£15,000 for a term of 3 years. WARNING: This APR is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different APR. These rates can change without further notice. All rates quoted are per annum.

Suco Car Loan FAQs

Who can be a guarantor?

Anyone can be a guarantor— a borrower’s friend, parent, relative, or even a colleague, landlord and others. This is given that they meet Suco’s basic requirements. As guarantors, they must also agree to repay the loan should the primary borrower miss repayments.

How long does it take to get a Suco car loan?

You can apply for a Suco guarantor car loan and get a quote online in a few minutes. They will assess your application and call you and your guarantor to confirm your loan application. If you and your guarantor are easily reachable, your loan will be processed faster. Once your loan is approved, Suco will transfer the funds to your bank account within 24 to 48 hours.

What happens if I have bad credit records?

Suco does not rely on borrowers’ credit records to assess eligibility. Therefore, a lack of credit records or having CCJs, defaults and missed payments is okay with Suco. As long as you can present a qualified guarantor and has a source of income, you can still apply for a car loan.

What can I use a Suco guarantor car loan for?

You can use Suco guarantor loans to purchase and spread the cost of a new or used car. Additionally, you can use the loan for vehicle repair and modifications, as well as for other unexpected expenses.

Do I need to be employed to get a Suco car loan?

No. Suco only requires borrowers and their guarantors to have a regular monthly income. This can come from employment as well as being employed. Additional income from benefits and pension can also be taken into account.

How can I apply for a Suco guarantor car Loan?

You can apply for a Suco car loan via their website. Fill out their online form by providing your contact information and desired loan amount terms to get an instant quote. Afterwards, provide all needed information and supporting documents, then wait for a call. They will also contact your guarantor. If your guarantor agrees with the loan terms, Suco will approve your loan and transfer the money to your bank account.

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Bestloanrates.co.uk provides factual information in relation to financial products. While Bestloanrates.co.uk attempts to make a wide range of products and providers available, it may not cover all the options available to you. Moreover, we cannot be responsible for changes made to this information by product providers and/or inaccurate information obtained from a product provider. All product information comes from the produc provider or publicly available information and to the best of our knowledge is correct at the time of publishing. The information published on Bestloanrates.co.uk is general in nature only and does not consider your personal objectives, financial situation or particular needs and is not recommending any particular product to you. If you decide to apply for a product you will be dealing directly with that provider and not with Bestloanrates.co.uk. Bestloanrates.co.uk recommends that you read the relevant product disclosure statement or product guide before taking up any financial product offer. For more information please see Bestloanrates.co.uk’s Terms of Use and Services Guide.

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