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24 month loans.

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Representative 49.7% APR (variable). Representative Example: If you borrow £2,600.00 over 36 months at a Representative rate of 49.7% APR and an annual interest rate of 41.00% (fixed), you would pay 36 monthly instalments of £126.61. The total charge for credit will be £1,957.89 and the total amount payable will be £4,557.89.

24 Month Loans

What can I expect from a 24 month loan?

24 month loans are generally for larger loan amounts, most commonly used for expenses like home improvements, debt consolidation or a new motor. Either way, it's important to get your facts right before applying.

With 24 month loans, you can expect the loan amounts on offer to be north of £1000, with some banks offering upto £25,000.

Can I get a 24 month loan with bad credit?

If you’ve got bad credit and you’re looking for a larger loan amount then you still have options. Most longer term loan options for bad credit will require you to have a guarantor, so bear that in mind. If accepted, you will also have to pay a higher APR than that offered by the high-street banks and supermarkets.

Rule of thumb when it comes to finding a loan is to first know where you stand. The Choose Wisely eligibility checker is a great place to get an idea of suitable lenders to compare.

There are lenders out there happy to consider anyone with a CCJ, as long as they can afford it. Check out our CCJ loans comparison table.

How do I find the best 24 month loan deal?

When looking for a loan, particularly if you’re facing financial difficulty, make sure you do your research. Choose Wisely have done most of the work for you with our comparison table above. We’ve also got our loans library if you want to view more information about each lender in one accessible place.

Your credit history will determinTOP TIP: If you’re worried about financial emergencies, find out more in our guide on saving for a financial safety net. e the route you need to go down when applying for a 24 month loan. As mentioned, if you have bad credit you still have options, you just need to take extra care to ensure you meet the lenders criteria. Saying this, there are still deals to be had so compare your options and Choose Wisely.

Find suitable lenders for you in less than a minute by using our eligibility checker.

If you’re worried about financial emergencies, find out more in our guide on saving for a financial safety net.

Final Word

When it comes to loans or any kind of credit, make sure your know your limits. Don’t over stretch yourself financially and be realistic. Long-term loans provide an option for those bigger purchases, like home improvements or a new car, but try to be realistic about your borrowing power.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk