AA drops loan rates again

AA Financial Services has reduced the rate for personal loans to 5.6% APR representative but AA members benefit from a lower 5.5% APR representative rate.  The rates were previously 5.9% for AA members and 6.4% for non-members.

Mark Huggins, director of AA Financial Services, said:  "The base rate continues at a record low and I'm glad that we are able to reduce our rates for both members and non-members.

"The rate change comes at one of the most expensive times for families when affordable loans for major expenses will play a part in domestic budgeting. 

"Given that the AA is a motoring organisation, many AA loans are taken out to buy, or contribute towards the cost of, a car and there are likely to be some good forecourt deals to be had early in 2013 before the new March registrations.

"Of course, AA Loans can be used to pay for anything," he added.