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Zopa? It sounds good but I don't know

(6 Posts)
OrmIrian Wed 25-Feb-09 19:10:49

Need a small car loan. Am tempted by low rates and the ethos. Anyone got any experience?

Idrankthechristmasspirits Wed 25-Feb-09 19:15:01

they are a very good option IMO. Take a look at the Listings part first. There are two separate parts to Zopa.
One is the "marketplace". This is a commercial lending area, they do tend to give pretty good rates.
The second is the "listing" area. This is where joe bloggs can write a listing and then members of the community can choose whether or not to lend either all or a portion of that amount. It's a bit like ebay for loans.

It's aimed at people who have no ccj's but may not be able to get a loan through normal routes because of factors like their age or a lack of credit history.

OrmIrian Wed 25-Feb-09 19:16:58


I'd have no trouble getting a loan through normal channels but it was the best rate by miles. I love the thought that Mrs Bloggs in Cardiff is lending me a tenner, and Mr Jones from somewhere else is contributing 20 etc.

Idrankthechristmasspirits Wed 25-Feb-09 19:20:01

I know, it's fab isn't it! I love to read the listings. Some are hilarious. grin

There was one where the guy had gone into a really long story about how he had defaulted on all his cards as his girlfriends rabbit had died and there were vets then funeral costs. grin Sadly that one was pulled quite quickly.

OrmIrian Wed 25-Feb-09 19:20:47

rofl at funeral costs grin

OrmIrian Fri 27-Feb-09 13:49:36

F*ck me! The buggers declined me shock

I really really don't know why. perfect credit rating. Full-time employment with same employer for yonks, small mortgage, no overdraft.... really weird. And no e-mail notification either, just a status on my application. Very odd.

Anyway I went and applied somewhere else and got approved straight away. I need the dosh asap to buy a car so no time for faffing about.

Shame really as I liked the concept.

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