SupaLoans Is A Licensed Credit Broker, Not A Lender, And Does Not Make Credit Decisions, We May Receive A Commission From The Provider That We Introduce You To.- Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

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Loans: cars

Nov 25, 2019

Have you found your dream wheels but don’t have all of the payment ready up front? A car loan can help you cover the initial cost and break the larger payment into smaller more manageable payments over an agreed period of time. A car loan can be a suitable option for you if you want to own the car from day one, and not have to lease or arrange a Hire Purchase Agreement with the dealership or manufacturer. By filling in the application form below, we may be able to find you the lender with the lowest rate that is willing to lend to you today.

What is a car loan?

A Car Loan is essentially a personal loan that someone may take out with a lender, with the sole purpose of buying a car. If you are looking at buying a car, whether it be new or second hand, utilising finance to buy the car outright ensures that you own the car from the moment of purchase. Whereas, if you were to lease the car (also known as Personal Contract Hire) you would never actually own the vehicle, and you would have to give the car back at the end of the lease.

If you have found the right car or are in need of a car ASAP and don’t have all of the money right there and then, a Car Loan may be the right option for you. A Car Loan enables you to spread the cost of your car over a longer period of time in more manageable payments each month.

How much can I borrow?

How much you would like to borrow for your car loan is completely dependent on how much you are willing to take out with a lender, how much you wish to spend on your new car and, of course, how much your lender is willing to lend to you. You may only need a small loan if the car is relatively cheap, or if you have already saved up most of the money, but you just need that little bit extra to cover the costs.

If it is a more expensive car that you are looking at purchasing, then you may choose to take out a larger loan over a longer period of time. Remember, different lenders will charge different interest rates on your loan, so it is recommended that you look around and make sure that you are choosing the best option for you. You can compare all of our car loan providers through Supacompare today!

Who can get a car loan?

To apply for a Car Loan with The Loan Tree, you must be over the age of 18, a UK resident, currently employed, and earning at least £800 per month. Lenders may have their own requirements, but by applying with The Loan Tree we will use the information that you have provide us to match you with the most suitable lender that agrees in principal to offer you a loan.

Lenders may check your credit report and score when deciding whether or not to offer you a loan. It is recommended that you check these before applying for a loan to make sure that all of the information on your report is correct. You can use our FREE* tool Credit Knowledge to check your report today!

Do I have to know which car I want before I buy?

Not necessarily! You may have already found the perfect car, and you just need a car loan to help you purchase it. On the other hand, you may not have found the right car for you yet, but you know what budget you would like to spend and so can secure a loan for that amount.

How much will it cost for me to take out a Car Loan?

With any loan, the amount that you pay back will depend on the interest rate and time period that you agreed with your lender.

*Terms apply. Please see site for details.


For more information or if you wish to apply for a loan, visit https://www.supaloans.co.uk/

Representative Example: If you borrow £1,000 over a 12-month period, your monthly repayment will amount to £116.05. The total repayment sum, inclusive of £392.60 in interest, will reach £1392.60. This example assumes a fixed interest rate of 79.5%.

Representative 79.5% APR (fixed)

Interest rates range from 12.9% APR to 1721% APR. The APR you receive will depend upon your individual personal circumstances. Loans are available between £100 and £10,000, with terms ranging from 1 month to 10 years. Some lenders only offer loans to UK homeowners. You can request a quote with no obligation.

Please note that we are not a direct lender, and we do not make credit decisions, We are a fully authorised and regulated credit broker, operating a loan matching service. We will attempt to connect you with a loan offer by submitting your information to our trusted panel of lenders and brokers and alternative consumer credit providers. The quote and APR you receive will be tailored to your specific circumstances. Our loan matching service is 100% FREE to use and we will never charge you a fee. To operate this service we may receive a commission from the provider we refer you to. Please note that some services offered may involve a monthly fee, please read carefully before proceeding.

Working for you!

As a leading loan broker service we exist to find you the most suitable lender for your situation.

ALL LOANS ARE SUBJECT TO CREDITWORTHINESS AND AFFORDABILITY CHECKS

MediaBlanket Ltd. Registered in the UK: 07949139; Registered address: MediaBlanket Ltd, Lloyds House, 18-22 Lloyd Street, Manchester, M2 5WA. MediaBlanket Ltd is authorised and regulated by the Financial Conduct Authority under Firm Ref 723605. Registered with the Information Commissioner's Office Z3334636.

*Subject to lender's requirements and approval based on creditworthiness and affordability checks. Most loans can be paid in to your bank account within one hour although this could take 2-3 days if your bank does not accept faster payments. Please note that not everyone will qualify for the full amount.*

Auto Decisioning allows lenders to make a decision on your loan application without the need for human interaction, for more information please contact your lender or see their privacy policy.

Responsible Lending

At MediaBlanket Ltd, we care because money matters and we are committed to working with responsible lenders and acting as a responsible broker.

Our lenders do:

  • Assess that applicants can afford a loan, and will be able to repay it
  • Provide clear, transparent agreements, terms and communications
  • Treat all customers fairly

Our lenders do not:

  • Target people who are struggling with debt
  • Lend to applicants who they believe will be unable to repay without experiencing financial difficulty
  • Proceed with applicants if they are unable to verify their personal details

Please only apply for a loan if you're sure that you can repay it in full on your due date and still manage your other outgoings. Don’t borrow money if you know that you will struggle to pay it back.

Implications of Non-Payment

Missing repayments may have a negative effect on your credit rating and make it more difficult for you to obtain credit in the future. It may also result in your debt being passed to a collection agency.

Financial Difficulties

If after receiving your loan you feel that you will struggle to make the agreed repayments, it is important that you do not ignore the situation, and you contact your lender as soon as possible. For further information please refer to the loan agreement and terms provided by your lender.

For further help please go to moneyhelper.org.uk