Used car loans - UK rates online

A new or used car loan can be used to purchase a car in the UK, unless the lender indicates otherwise. This may be the case with loans from car dealerships, as often indicated by online rates. Despite this, many manufacturers and dealers will offer loans or hire purchase schemes on nearly new vehicles so if you are looking to buy a car that is only one or two years old, it might be worth looking into this possibility.

Do I have to buy my used car from a particular dealer?

Not unless you are taking out the loan directly with the dealer, in which case you are limited to the cars that they have in stock. If you are taking out a personal loan, most lenders will simply transfer the funds into your bank account or send you a cheque, so you are free to use the funds at whichever dealer you like.

Where can I find the best deal?

Lenders often offer special interest rates to customers who borrow money online because overheads are reduced when applicants fill out their own applications online. This also tends to be the quickest way of applying, and there are likely to be facilities such as loan calculators and instant quotations so that you can get a better feel for the type of loan you want before making the application.

 

 

 

 

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