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How to find a cheap car loan deal

13 Feb 2018

Woman Sat On A Car's Roof

According to the online magazine Car Buyer, around 80% of new car purchases are made using some form of finance. Many of these are in the shape of car loans, which may also, of course, be used for the purchase of a used car.

Loans may take a number of different forms and come from a variety of sources, so how might you go about finding suitable car loan deals to suit your own purposes?

Here are some of the factors you might want to take into consideration:

Finance from the car dealership

  • the question of finance is likely to arise as soon as you begin looking for a new or used car;
  • In fact, dealers are so used to their customers requiring some form of finance that practically all of them offer loans to help secure sales of their vehicles;
  • These may take the form of personal loans or hire purchase agreements — the latter essentially a loan secured against the vehicle itself and with your ownership of the car not passing to you until the final HP instalment has been paid;
  • In the heat of the moment — and the dealer’s eagerness to make a sale — however, you may not take the time to consider whether the rate of interest quoted on the loan is a competitive market rate;
  • Furthermore, by accepting the terms of the dealer’s offer of finance you are of course tied to that particular dealer for the car you are buying;

view of the Royal Royce steering wheel

Car finance online

  • With car finance arranged through us, on the other hand, you have an immediate way of checking the rate of interest, the amount you want to borrow and the duration of the loan, in our online finance calculator;
  • So, you know at a glance just how much the loan is going to cost and how much interest in total you need to pay;
  • We are often able to secure funding for your car purchase even if you have nothing to out down as a deposit — a so-called zero deposit solution;
  • Furthermore, we are also experts in striking car loan deals even if you have a bad credit rating — our network of specialist lenders are specialists in the provision of bad credit loans;
  • When you make your online application, we aim to give you an immediate response and, upon acceptance, transfer the funds directly to your account within one working day — and, importantly, you pay no fees to us for helping to find and secure your car loan;
  • we take pride in the 97% success rate we currently achieve for our many customers;
  • armed with the funds you need, you are then in a position to make your purchase wherever you find the car you want to buy — you are not tied to any particular dealer or franchise.

Car loan deals take various forms and may be arranged by a number of different intermediaries, including car dealers. With a loan quickly and easily arranged through us at, however, there is complete transparency on costs and you are free to make your car purchase wherever you choose.

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