Car Loans

If you are looking for a new car and need a car loan to make up the balance or even the whole lot then you will find it is quite easy in the UK to get approved. 

The UK is a nation of borrowers and there is no shortage of loan companies prepared to lend you money for your new car.  Rates are fairly competitive at the moment so it’s important to shop around for the most competitive rate. 

Once you have decided what car you want then it’s easier to decide what you want from your loan.  Don’t believe what the ad says regarding the APR, these can be misleading and the best way to understand what you will actually pay is to compare the total amount payable or (TAR). This shows how much you'll pay back, right down to the last penny, including all "charges for credit" 

It’s important to understand this part of your loan.  Decide how long you want to pay your car over and choose the loan accordingly. The shorter the period you are prepared to pay your loan over, the better. Your car will depreciate in a short period of time so make sure you pay it off as soon as possible. You can pay as little as £440 for a loan of £5,000 over 3 years.