General Questions

What are the terms and conditions?

You're able to view our current terms and conditions on our website. The terms and conditions of your loan may be slightly different as we change our terms occasionally.

If you have any questions about them, please contact us on 01202 629 161 (9am-7pm Mon-Thurs; 9am-6pm Fri; 9am-1pm Sat), or email us at [email protected]; we're happy to help.

Will the money go to the owner of the vehicle?

With all Amigo loans, we always pay the money directly into the guarantor's bank account and it is up to them to transfer the money to yourself. This is one of our fraud prevention methods, to ensure they are always aware of the application.

Can I opt out of paper statements?

As of September 2019, we've put a stop to our monthly paper statements.

Why are we doing is?

Our monthly statements are forecast to send over 7,000,000 individual sheets of paper to our customers in 2020 alone. That’s the equivalent of around 450 trees.

Personally, we’d prefer the planet to be 450 trees better off. By moving everything online, we can achieve that.

Checking your account statement

There are still a number of ways you can view your account statement, with the added bonus that it will always be up-to-date on the day you’re viewing it. That means no more statements that are already outdated by the time it’s arrived through your letterbox.

To check your statement, you can:

  • Log into your online account at You’ll need to enter your mobile number and date of birth, and we’ll text you a code to gain access. Once in, you’ll find your account statement as well as a whole load of other helpful stuff.
  • Download our mobile App (this is only available to borrowers). This is the same as your online account but even more handy.
  • Or, you can also text the word ‘Statement’ to 07595553371 and we’ll send you a mini SMS statement.

A couple of other things to mention

This is only affecting the monthly paper statements. We’ll still send you an annual statement once a year, and we may occasionally need to get in touch by letter if there’s ever any updates on your account we need to make you aware of.

This is coming into place as of now, so it’s likely you’ll already have received your last monthly statement in the post. Basically, the sooner we can reduce our impact on the environment, the better.

Anyway, that’s just a short announcement from us but one we think is quite important. If you have any questions or need help logging in, you can check out our help centre here:

Can I take out a loan to cover the insurance and road tax also?

Yes, you can take out a loan that's enough to cover the cost of the vehicle, the vehicle's insurance and road tax as long as the payments are affordable for both yourself and your guarantor. It will be up to your guarantor to make any payment you do not. 

Who are you regulated by?

We're authorised and regulated by the Financial Conduct Authority (FCA).

Financial Conduct Authority Permission Number 708284.

Can I sell the vehicle to settle the loan?

If you used an Amigo loan to purchase a vehicle outright, and you are the named owner of the vehicle, if you choose to sell the vehicle it is your choice if you use the money to settle or pay towards the loan. 

You can choose to make extra payments or settle the loan at any time, and we promise to never charge you for doing so. If you chose to settle the loan early it should actually save you money, as you’ll only repay what you borrow and the interest for the time you have the loan.

Do I pay PPI on my loan?

No, Amigo Loans have never added PPI to our loans. There is no PPI on any loan you have or had with us.

I didn't take out a loan with you; can I claim back my fee?

At Amigo, we do not have any fees.

However, some loan brokers charge a fee for finding you a loan. If you found Amigo Loans through a loan broker, they might have charged you for their service (even if you didn’t take out a loan with us). Some brokers charge their fee as a debit card payment before you get your loan, some brokers add the fee to your loan and some do both.

If a broker charges a fee, they receive the full fee. If you need to know more about a fee you have been charged by a broker, you should contact the broker that introduced you to Amigo.

Representative Example: Borrowing £4,000 over 36 months, repaying £195.16 per month, total repayable £7,025.76. Interest rate 49.9% (variable).

How do Amigo compare to the rest?

Well, let’s put it this way. We’re not a bank, we’re not a payday lender or a line of credit. We’re a guarantor lender.

We’re able to help those who can’t get finance from their banks, because they either have thin or poor credit, with a loan that's affordable for them.

With a representative APR of 49.9% and no additional fees or charges, we’re a much better option for customers who can’t get a loan from a bank when comparing us to high cost loans and payday lenders.

Will the loan be secured against the vehicle?

No, your Amigo loan will not be secured against the vehicle, neither would it be secured against a property. You will be able to purchase your vehicle outright upfront as a cash buyer, this is just one of the many advantages of using an Amigo loan to purchase a vehicle.

With an Amigo loan you will also never be charged any fees or be required to pay a deposit or a final lump sum payment, which is common with vehicle finance agreements. You can choose an affordable amount of £500 - £10,000, over a loan term of up to five years, allowing you to spread the cost of borrowing to suit your budget.

You will need a guarantor; someone aged 18-75 with a good credit history, who would be able to afford the payments. It would be up to your guarantor to make any payments you do not.

What is a commission charged by your broker?

If you found Amigo Loans through a loan broker, they might have charged a commission fee for their service (even if you didn't take out a loan with us).

Some brokers charge their fee as a debit card payment before you get your loan, some brokers add a commission fee to your loan and some do both.

If they took a payment from you via debit card and you wish to dispute it, then you will need to speak to them directly. If your broker fee was added to your starting loan balance, it will be detailed in your Credit Agreement.

If a broker charges a commission fee, Amigo would not receive any of this, as the broker would receive the full amount. If you need to know more about fees you have incurred, you should contact the broker who introduced you to Amigo. If you are not sure who this was, please get in touch with us on 01202 629 161 (9am-7pm Mon-Thurs; 9am-6pm Fri; 9am-1pm Sat) and we should be able to tell you.

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