Review of Argos Loans
If you’re trying to borrow some money for a new car or to go on a holiday or anything else you might have been considering taking out a loan from Argos.
Argos loans are provided by Creation Consumer Finance. They can offer loans of between £3,000 and £15,000, though the exact amount they can offer you may be affected by your credit rating.
Argos loans feature:
- Options to repay over 2 to 5 years
- No arrangement fees to set up
Criteria for Argos loans include:
- You need to be over 25 and under 70 years old when you apply.
- You have been a UK resident for at least 3 years
- You must not have a history of adverse credit
Personal loans are big commitments and can take years to pay off; because of this they are something that you should carefully consider before taking on.
You can use the calculator on our website to compare over 200 loans from 20 different loan providers to help you decide the best option.
Alternatives to personal loans
If you are a homeowner looking to borrow more than £15,000, you could consider looking into homeowner loans. This type of loan is similar to a mortgage in that it is secured on your home. Because of this security, lenders are often willing to lend you more.
Argos does offer homeowner loans between £7,500 and £200,000, as with a personal loan, this money can be used however you like.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage or any other debt secured on it. If you are at all unsure of the suitability of a particular product for your circumstances, you should seek independent financial advice.
Similarly to personal loans, Argos is just one lender of many. The diverse range of financial products out there means you should shop around to ensure you get the right loan.
If you have been considering taking out a loan to pay for a vocational course, you may actually qualify for a ‘Professional and Career Development Loan’
This is a special type of loan to pay for courses or training that will help you with your career or get into work.
To be eligible for this type of loan, you must;
- Be 18 or over
- Have been living in the UK for at least 3 years before your course starts
- Be planning to work in the UK, European Union or European Economic Area after the course
- Be planning on attending a course provided by an organisation on the professional career and development loan register.
This type of loan lets you borrow from £300 to £10,000, and you do not need to start repaying it until after your course finishes.
Considerations before taking out an Argos loan
It is important to shop around.
However, depending on your personal circumstances, some options are likely to be more suitable for your needs than others. Before committing to a loan we strongly recommend that you compare the market in looking at your loan options.
We provide a loan calculator on this site. For secured loans, business loans and bridging loans you should speak to a qualified loan broker who can evaluate your situation and provide you with unbiased, expert advice to make the right decision for you.