mortgage

Compare Car Loans

Looking to buy a new car? In the table below you will find car loan rates from some of the UK’s biggest car loan providers. Compare these loan rates to those being offered by your dealership to see if you can save money. Each of these providers offer a range of car finance options to fit your budget and requirements.

Zopa Car Loan

Provider Loans Available Length Representative APR Action
logo £1,000 - £25,000 1 - 5 years 2.9% (£7,500 - £15,000) Send Enquiry
Zopa is a lender not a broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 2.9% p.a. (fixed) would result in a representative rate of 2.9% APR. Monthly repayments would be £179.25 and the total amount repayable £10,754.


My Car Credit - Low Rate Motor Loan

Provider Loans Available Length Representative APR Action
logo £1,000 - £50,000 1 - 5 years 8.9% (£1,000 - £50,000) Send Enquiry
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 8.9% p.a. (fixed) would result in a representative rate of 8.9% APR. Monthly repayments would be £315.93 and the total amount repayable £11,373.48.


CarFinance 247 Car Loans

Provider Loans Available Length Representative APR Action
logo £1,000 - £35,000 1 - 5 years 9.2% APR (£1,000 to £35,000) Send Enquiry
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 9.2% p.a. (fixed) would result in a representative rate of 9.2% APR. Monthly repayments would be £317.22 and the total amount repayable £11,419.92.


Creditplus Car Loan

Provider Loans Available Length Representative APR Action
logo £3,000 - £100,000 1 - 5 Years 9.8% APR (£3,000 - £100,000) Send Enquiry
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 9.8% p.a. (fixed) would result in a representative rate of 9.8% APR. Monthly repayments would be £319.79 and the total amount repayable £11,512.44.


Whatcredit Car Loan

Provider Loans Available Length Representative APR Action
logo £1,000 - £50,000 1 - 5 years 16.8% (£1,000 - £50,000) Send Enquiry
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 16.8% p.a. (fixed) would result in a representative rate of 16.8% APR. Monthly repayments would be £349.75 and the total amount repayable £12,590.91.


Zuto Car Loans

Provider Loans Available Length Representative APR Action
logo £1,500 - £50,000 2 - 5 Years 18.5% APR (£1,500 - £50,000) Send Enquiry
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 18.5% p.a. (fixed) would result in a representative rate of 18.5% APR. Monthly repayments would be £357.00 and the total amount repayable £12,852.


Provider Details

Zopa Car Loan

Send Enquiry
  • Loans Available£1,000 - £25,000
  • Length1 - 5 years
  • Representative APR2.9% (£7,500 - £15,000)
Zopa is a lender not a broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 2.9% p.a. (fixed) would result in a representative rate of 2.9% APR. Monthly repayments would be £179.25 and the total amount repayable £10,754.

Provider Details

My Car Credit - Low Rate Motor Loan

Send Enquiry
  • Loans Available£1,000 - £50,000
  • Length1 - 5 years
  • Representative APR8.9% (£1,000 - £50,000)
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 8.9% p.a. (fixed) would result in a representative rate of 8.9% APR. Monthly repayments would be £315.93 and the total amount repayable £11,373.48.

Provider Details

CarFinance 247 Car Loans

Send Enquiry
  • Loans Available£1,000 - £35,000
  • Length1 - 5 years
  • Representative APR9.2% APR (£1,000 to £35,000)
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 9.2% p.a. (fixed) would result in a representative rate of 9.2% APR. Monthly repayments would be £317.22 and the total amount repayable £11,419.92.

Provider Details

Creditplus Car Loan

Send Enquiry
  • Loans Available£3,000 - £100,000
  • Length1 - 5 Years
  • Representative APR9.8% APR (£3,000 - £100,000)
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 9.8% p.a. (fixed) would result in a representative rate of 9.8% APR. Monthly repayments would be £319.79 and the total amount repayable £11,512.44.

Provider Details

Whatcredit Car Loan

Send Enquiry
  • Loans Available£1,000 - £50,000
  • Length1 - 5 years
  • Representative APR16.8% (£1,000 - £50,000)
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 16.8% p.a. (fixed) would result in a representative rate of 16.8% APR. Monthly repayments would be £349.75 and the total amount repayable £12,590.91.

Provider Details

Zuto Car Loans

Send Enquiry
  • Loans Available£1,500 - £50,000
  • Length2 - 5 Years
  • Representative APR18.5% APR (£1,500 - £50,000)
This is a car loan broker.

Representative Example: Borrowing £10,000 over 36 months at a rate of 18.5% p.a. (fixed) would result in a representative rate of 18.5% APR. Monthly repayments would be £357.00 and the total amount repayable £12,852.

Note: All of the car loans above are calculated on the basis of a £10,000 loan repaid over 3 years.

 

Car Loans Jargon Buster

  • Agreement Term

    This is the length of time you agree to pay the finance over and is usually between 1 and 5 years. The agreement term is covered in a contract between the lender and the borrower.

  • APR

    APR (Annual Percentage Rate) is a handy way to compare the costs associated with different credit cards. It is calculated as the annual rate of interest divided by 12 months. It also includes any monthly or annual charges on top of the basic interest rate.

  • Credit Rating

    Your credit rating is calculated by a number of Credit Reference Agencies in the UK. It is a score used by financial institutions to assess your suitability for a credit card, loan, mortgage and other financial products. It is a reflection of how well you have managed your finances over time. If you have regularly applied for financial products and have made the required payments on time (credit card payments, mortgage payments, loan repayments etc) you will have a higher credit score. It is also helpful if you are on the Electoral Roll. You can request a Credit Report from a number of companies in the UK including Experian, Equifax, Clearscore and Noddle.

  • Early Repayment Charge

    A one off charge applied by the lender if you choose to pay off the balance of your loan before the end of the term agreed when you took out the loan.

  • Fixed Interest Rate

    Loans generally come with a fixed interest rate (as opposed to a variable interest rate). This means the interest charged on the loan cannot be changed by the bank during the term of the loan giving you certainty over the monthly repayments that need to be made.

  • Interest Rate

    TThis is the cost of your loan, expressed as a rate of interest. This is the amount the lender will charge you for borrowing the money from them. For example if you borrow £10,000 over 1 year with an interest rate of 5%, the total amount of money to be repaid would be £10,500.

  • Total Amount Payable

    This is the total cost of the loan and includes the initial amount borrowed (the capital) plus the interest and any additional fee’s charged by the lender.

  • Other Types Of Car Finance

  • Hire Purchase Agreement

    This type of car finance allows you to buy a car by paying a deposit. After this, you will make regular monthly payments over the length of the agreement that covers the balance of the value of the car. At the end of the agreement, assuming you have paid off the instalments, the hire purchase agreement ends and you become the owner of the car.

  • Personal Contract Purchase

    Personal Contract Purchase is a type of hire purchase agreement that includes a “balloon payment” at the end of the agreement. This final payment represents the residual value of the car based on its age, milage etc. The inclusion of a balloon payment usually means your monthly instalments will be lower for the duration of the agreement. At the end of the agreement you can choose to make the balloon payment and take ownership of the car, or end the agreement and hand back the car to the lender.

  • Personal Loan

    A standard personal loan can be used to finance the purchase of a car. The lender will usually ask what the loan is for but once it has been approved and paid to you, you are free to do what you wish with the money and this could include buying a car.

Disclaimer: TheMoneyDaily’s service is not intended to be, nor should it be construed as financial advice. We help our readers make informed decisions and can introduce you to comparison services and provide impartial information and guides. Where appropriate, we may introduce FCA authorised partners who can provide services relating to financial products.