With all of the funding options available to you, trying to find that best car loan rate nowadays can be a headache. Car loan rates will vary depending on which lender you use, which is why it’s important to shop around. Typically car loans usually come in the form of secured loans or personal loans. In addition to interest rates, there are other factors and fees that you should look out for when comparing car loans.
- Administration and other fees – some lenders will charge arrangement fees for setting up your loan.
- Early repayment charge – It is not unusual for lenders to charge you additional fees if you choose to repay your loan early.
- Repayment terms – different lenders offer different lengths in which you can repay the loan.
How to find leading secured loan deals
Taking out a car loan is a big investment, which is why you should ensure that you have the capacity to afford the repayments. Whilst our car loan calculator can assist you in comparing over 200 different loans from over 20 different lenders, we still urge that you contact a mortgage broker to assist you.
We have a specialist secured loan advisory team, who can help you calculate the loan terms that you can comfortable afford. Additionally, our expert team can also compare a range of leading and exclusive car loan deals, to help find the ideal loan perfect for your personal circumstances.
Considerations
Aside from doing your research and making sure you are getting the best personal loan rates. Before taking out a loan you should think about any alternatives, such as if you have any savings it might be beneficial to use these instead, as the interest you pay on a loan may be higher than any interest you earn from your savings.
There are other types of borrowing than personal and home owner loans such as authorised overdrafts and credit cards you might wish to consider.
If you are thinking of taking out a loan to consolidate debt understand that spreading your payments over a longer term could mean you ultimately pay more overall than you would with your existing arrangements, even if the interest rate on the new loan is less than the rates you have at the moment.
5reasons to use our Loan Service
- 1Compare over 200 loans from over 20 lenders
- 2UK market leading loan rates
- 3Fast loan service – You could have a loan underwritten, approved and paid within 24 hours
- 4Credit to suit all circumstances
- 5Simple process