RateSetter

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Company Information

  • Company Name:
    RateSetter
  • Website Address:
  • Business address:
    406 Great Guildford Business Square, 30 Great Guildford Street, London SE1 0HS
  • Phone number:
    020 3142 6226

Ratesetter (Ratesetter.com) is a top web-based peer to peer lending platform, offering customers low cost car loans at competitive rates. By bypassing banks and traditional lenders and allowing individuals to lend to one another through the online business, Ratesetter is able to set its rates lower than you may find elsewhere. Lenders can use the site to loan money to customers looking for some financial help, while borrowers can access award winning customer service and some of the lowest car loan rates on the market.

Ratesetter’s car loans are designed to bring down the cost of running your car- whether you’re purchasing a new vehicle or paying for repair bills, you’ll be able to choose from a variety of Ratesetter car loans. Loans are available from £1,000 up to £25,000, with rates varying depending on your circumstances and the amount you need. You can set a repayment term of up to five years, with the flexibility to choose a loan length that works for you. If you decide to repay the loan early you can easily do so with no extra early repayment charges involved.

For a personalised quote, you can use Ratesetter’s SmartQuote tool, which will offer you a basic APR estimate in less than a minute with no obligation to go through with the loan afterward.

If you do decide to go through with the loan application on Ratesetter, you can apply online or over the phone. To apply, you will need your financial details and some basic information about yourself, which will allow Ratesetter to conduct a credit check on your name to assess whether the loan would be affordable for your personal circumstances. If your application is accepted, you could receive the money in your account within just 48 hours. Once you have your loan, you can use the Ratesetter website to manage your balance and repay at any time.

105 Reviews of RateSetter have been submitted - read the latest 3 below

I was originally going to ask my bank for a car finance loan but then I decided to make an effort and go online and check out some other loan options just to make sure I was going to get the most competitive and therefore most affordable loan for myself. When you are borrowing about 10K it makes sense to try and get the lowest rate you can because even just a slight difference in the rate can mean you are saving hundreds of pounds. So ending up with a loan from Ratesetter has just confirmed what I suspected, my bank would not have been anywhere near as competitive and I have saved myself so much money on this loan that I can afford a week in Spain as well as my new car. Result!

Review posted by Katherine Cox, West Malling

  • Customer Service
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  • Ease Of Use
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I'm not likely to be needing another car finance loan any time soon so I won't say I'll definitely be using them again but what I will do is recommend them to people because I think Ratesetter have done a brilliant job at giving me a really good deal on my loan. As soon as I used their SmartQuote tool and saw the APR they were calculating for my loan amount I knew this was going to work out to be a really competitive and affordable loan for me. I think that's what most people look for in a car finance loan and so I would recommend Ratesetter without question.

Review posted by Harry Shipton, Roehampton

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

I chose Ratesetter to get my car finance loan because they offer a really simple and straightforward loan process with a SmartQuote tool on their website which you can use to find out how much you can afford to borrow before you go ahead and apply officially. It saves you the bother of going through all the process only to find out you can't get the loan approved because of your affordability. I know you still have to go through the credit check before you get it approved but at least you know yourself what you can realistically afford to borrow before you proceed any further. If like me you get past the credit check OK then you'll end up with a really good car finance loan from Ratesetter and so that's why I am recommending them.

Review posted by Anne Hogan, Brighton

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money