If you’re buying a new car and you don’t have the cash to pay for it upfront then you may wish to either buy a car on finance or take out a car loan. Before choosing one or the other you should consider which is cheaper for you and which you are eligible for.
Many car retailers will offer finance on both new and used cars and many of their deals are excellent but before you go with this option see what rates you are eligible for on a personal loan.
Top Car & Personal Loans
Loans from £7,500 to £14,999
Market Leading Loan: Sainsbury's
Loan amount: £7,500 to £15,000
Representative example: assumed borrowing £10,000.00
over 60 months, Representative 5.9% APR (variable), monthly repayment
£193.52, total amount repayable is £11,611.20. Sainsburys Bank plc, 33
Holborn, London, EC1N 2HT.
Loan amount: £7,500 to £14,950
Representative example: assumed borrowing £10,000.00 over 48 months, Representative 7.9% APR (variable), monthly repayment £242.38, total amount repayable is £11,634.48. Loan provided by The Co-operative Bank, PO Box 101, Manchester M60 4EP.
Many banks and loan providers offer excellent rates on personal loans about £7,500 and some loan providers can offer excellent rates on loans taken specifically for the purpose of buying a car, you should look at both options.
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