Compare Car Loans
Compare 100's of Cheap Car Loans & You Could Save £1000s!
- Compare 100's of Loans & Save
- Poor or Adverse Credit? No Problem!
- Free, No Obligation Quote
- Cheap Loans For Car Finance
- No Credit Check (Important!)
- Homeowners & Tenants Welcome
Apply Now
Submitting Details...
| Step 1 of 3 | About your loan | ||||||||||||
|
|||||||||||||
| Step 2 of 3 | About your loan | |||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||
| Step 2 of 3 | About your loan |
|
Based on your information we recommend you speak to a personal debt adviser. They will offer you advice on:
|
|
| Step 3 of 3 | Your details | ||||||||||||||||||||
|
|||||||||||||||||||||
| Finished |
|
Thank you for your enquiry. Your adviser will be in touch with you shortly. |
Compare Car Loans
There are many reasons you may need a car loan. Perhaps your old car is simply breaking down too often to constantly repair and it would make more economical sense to simply buy a new car, or perhaps a newer used car? If you find yourself needing a car loan and would like to compare rates and lenders to ensure you get the best deal then MoneyOutlet can help you.
Compare hundred of cheap personal and secured homeowner loans to find your low rate car loan quickly. It takes less than 2 minutes to apply for your free, no obligation quote. Apply Now!
What type of Car Loan should I choose?
Like most types of loans in the UK, car loans also fit into two main categories: personal car loans and secured car loans. Below you’ll find information on both to help you make a more informed decision when choosing the type of car finance you need.
Personal Car Loan: A personal loan is an ‘unsecured’ product which means you are not required to produce any type of collateral, such as your home, in order to receive this type of car loan.
Advantages to Personal Car Loans
- No security required, such as your home or property
- Borrow from £1,000 to £25,000
- Generally lower rates than car financing at the dealerships
Disadvantages to Personal Car Loans
- Maximum you can borrow is £25,000
- Repayment period usually from 1 to 5 years
- Most lenders only offer this type of loan to people with good or excellent credit
While the typical maximum you may borrow for a personal loan is £25,000, this is often the most popular loan choice as you are not required to supply any security. However, if you have bad credit and need a loan, you may find the majority of UK lenders turning you down for a car loan.
Secured Car Loan: A secured loan, also known as a home owner loan, which is granted to a homeowner based on their home or property used as security.
Advantages to Secured Car Loans
- Greater chance of approval for a loan
- Able to borrow up to £100,000, or more, depending on the equity in your home
- Typically lower rates than personal loans
- Loan terms usually from 5 to 25 years, or more
- More choice of bad credit loans if you suffer from a poor credit history
Disadvantages to Secured Car Loans
- You must be a homeowner to apply for this type of loan
- Your home is used as security
- May take longer to obtain the loan compared to a personal loan
Whichever loan type you choose it is recommended that you obtain finance before you purchase your vehicle. Depending on the lender you may need to know exactly which vehicle(s) you are interested in to give them an idea of how much they’ll lend you.
Generally, most people seeking car finance do not need more than £25,000 therefore a personal loan is often times the favoured choice. However, please keep in mind that rates available, especially those you see on television or in print, are what you can expect if you have excellent credit. Many lenders who offer personal loans for cars most often reject applications if you have an adverse credit history or if they do accept your application, you must discuss with them the typical APR (Annual Percentage Rate) they offer with their loan product.
Whether you’re looking for a personal car loan or a secured car loan, have excellent to bad credit, or would simply like to compare the whole market to find the best deal in minutes, we can save you valuable time and money now.
Here at the MoneyOutlet we work with a vast network of UK loan brokers and lenders offering car loans to all UK residents. Whether you have poor credit, CCJ’s, mortgage arrears or filed for bankruptcy or an IVA, we can help. Simply fill in your requirements in the form above and we’ll immediately begin searching 100’s of low rate loans based on your needs. You’ll receive a free, no obligation quote without a credit check (important!). It only takes 2 minutes to apply.
Why not see how we can help you today? Use www.moneyoutlet.co.uk to search and compare online and help find you the best available debt consolidation loan in today’s competitive market. Apply Now!
Published on September 16, 2007
Digg | 
del.icio.us | 
StumbleUpon | 
Reddit | 
Yahoo! | 
My favourites
Latest Loan Articles
Council Tax Bills In England Set To Rise By 3.9%
Council tax bills are expected to rise by an average of 3.9% in April. Costs of policing and employing more Community Support Officers have risen sharply thus affecting the decision to raise the tax. Local Government Minister says there is no excuse for this tax increase because councils could be saving as much as £1.5bn by simply cutting waste and reinvesting in local services... Read More
February 29, 2008
Will Personal Insolvencies Rise As Spending Surpasses Average Income?
Now that the credit crunch is firmly affecting the UK, personal insolvencies are expected to rise in 2008. Consumers prior to the last quarter of 2007 were able to access credit cards, loans, and mortgage products almost irrespective of their credit history. Living costs and expenditures on non-essential items are outweighing average earnings leaving many UK homeowners unable to make repayments and relying dangerously on credit cards bail them out... Read More
February 5, 2008
PPI Profits Sustain Personal Loan Market
Payment Protection Insurance offers huge profits for lenders who sell this product. PPI is a type of protection for the mortgage, loan, or credit card borrower in the event they become unemployed or for some reason cannot make their repayments. However, PPI is expensive and limited in its cover whilst many buyers often are unable to claim on it. The FSA is levying heavy fines to firms that mis-sell Payment Protection Insurance... Read More
February 1, 2008
More People Live In Fear Of Bankruptcy Or Repossession
Recent reports by experts and analysts reveal a real 'frenzy of fear' amongst many UK consumers. Due to the current credit crisis, rising mortgage costs, increasing inflation, and rising utility bills, homeowners and consumers alike are finding it difficult to manage. Home repossessions and bankruptcies are expected to rise this year and some say the 'fear' could be a good thing for consumers to tighten their spending... Read More
January 31, 2008
Northern Rock Looks Set To Be Nationalised
The threat of nationalising Northern Rock has shareholders worried. Investors were warned last week they could lose their invested money if the bank is sold. David Cameron is criticizing ministers for the takeover, saying the nationalisation of Northern Rock would be a final blow to Gordon Brown's economic credibility. ... Read More
January 16, 2008
Refer a Friend
Why not tell a friend about Money Outlet? Click here
