A simples guide

Compare £4000 Loans

It’s common for many of us to take out a loan at some point in our lives, whether it’s a student loan, mortgage, or for an exciting new business venture – loans are part of adulthood for many of us. Sure, they can seem daunting at times, but with careful thought and planning, the right loan can turn out to be a useful financial decision. 


So why take out a £4,000 loan?

Everyone has their reasons for borrowing Perhaps you’ve been planning a kitchen makeover, or putting a deposit down on a new car, or even treating the outside of your house to a fresh lick of paint: taking out a loan for £4,000 could just be what you need to get all those jobs done. 


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What you need to know

A £4,000 loan is what’s called a ‘mid-level loan’. This means you’ll generally be using it for smaller purchases, just like the ones mentioned above. Depending on your circumstances, there is a huge selection of loan products that could work for you.

With a loan of this size you can repay in a series of separate payments over a few months or years. But it’s important to keep an eye on those interest rates, as the total amount you pay back will be more than the loan amount, of course.

When it comes to a loan for £4,000, there are so many options out there. So it’s important you take your time figuring out exactly how much you can afford each month. If, for whatever reason, you’re unable to pay back a loan – large or small – you’re at risk of bailiffs paying you a visit, or being taken to court, so you want to find the option that’s right for you.  

Getting a loan with bad credit

If you’re looking to take out a £4,000 loan, a bad credit rating could be putting a spanner in the works for you. But fear not, there are loans out there for you, even if you have no credit history at all. Taking out a loan – even a bad credit loan – is one way of boosting your credit rating, so long as you pay your installments back in full and on time.

If you want to take out a £4,000 loan for bad credit, it’s good to do your research and – like any loan – find the one that’s right for you. There are two types of loans you can take out, secured and unsecured. Those who are borrowing less tend to opt for an unsecured loan as your property won’t be at risk, but you will have to pay a higher rate of interest. Secured loans however, will have lower interest rates, but are taken out against your home, which will be at risk if you miss any payments or cannot pay in full.


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Where can I find the right £4000 loan?

With the amount of loan providers out there, finding a £4,000 loan that works best for you can seem a little overwhelming. Fortunately, you’re in the right place. Here at comparethemarket.com, all you need to do is answer a few questions and we’ll help you compare hundreds of providers and products in just a few seconds to find the right one for your needs. It’s as simple as that.