A £4,000 personal loan over 3 years at 13.9% APR representative (fixed) with repayments of £134.94 a month. Total charge for credit will be £857.89. Total amount repayable is £4,857.89. Annual interest rate is 13.9% fixed.
The rate you may be offered will depend on your personal circumstances, the loan amount and the repayment term. Credit is subject to status and application.
Any personal data you supply from now is given to Freedom Finance and they will be responsible for protecting it. The Co-operative Bank will not collect, receive or process any of this data.
Understand your chances of getting a competitive loan for a car in minutes by checking your eligibility online.
When you search for a loan, a soft credit search is recorded on your credit report, but this is only visible to you and lenders can't see it. If you decide to submit your car loan application once you’ve reviewed your loan offers, your chosen lender will carry out a hard search, which other lenders will be able to see and can impact your credit rating.
A personal loan can provide you with the lump sum of cash needed to buy a car outright, either from a car dealer or a private seller. Getting a loan to buy a car allows you to budget, as your repayments, including the interest rate, will be a fixed monthly amount until the loan is paid off.
Make sure that you add additional costs of a car, such as insurance, tax, maintenance and MOTs to your budget, as this may impact how much you can afford to borrow.
To apply for a loan you have to be at least 18 years of age, be a UK resident and have an annual gross income of £10,000 or more. Your gross income is your income before any deductions, such as tax.
Yes, unlike other types of car finance, such as personal contract hire or hire purchase, you will get instant ownership at the time of purchase.
With many car-financing plans, the car will belong to the finance company until the end of the contract. When you buy a car with a personal loan however, the car itself is not used to secure the loan, meaning the car ownership belongs to you.
Yes, if you buy a car with a personal loan, you can sell the car if you need to. Keep in mind that you still have to repay your loan. You may also get less than you paid for your car, should you sell it. This means that you may not be able to repay all of your loan with the money you get from selling your car.
Yes, if you are eligible for a personal loan, you may be able to get a loan for big expenses such as car repairs. However, depending on the cost of the repairs, there may be other, more cost effective, borrowing options available to you, such as an overdraft or a credit card.
It's important to consider other borrowing options depending on how much you want to borrow and how long for. We have other borrowing options that might better meet your needs. Whether or not these borrowing options are available to you will depend on your circumstances.
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