UK Cheap Car Loans

Car loans are a popular and effective way to finance your car purchase. Auto eBid can help you obtain the cheapest car loans in the UK through our partner Zopa.

To obtain a cheap car loan quote (up-to £15,000), simply enter the loan amount required on the right, then click "GET A RATE", you will then be presented with our loan partners best available loan rates.

A cheap personal loan can be used to finance a car purchased through our system. We would ask you to obtain a car loan with our partner before placing your new car order.

 

How to obtain a Cheap Car Loan?

STEP 1> Obtain a personal loan through our partner.

STEP 2> Once your loan is approved you can then place your car order as a "cash buyer". You will now be in the strongest position to get the lowest price on your new car, effectively as a cash buyer.

STEP 3> Once your new vehicle order has been secured you can then initiate your car loan to start immediately. Alternatively, you could arrange the start of your loan to commence with the delivery date of your new car.

Loans offered through our partner may only be available for a limited period, therefore you might need to start the loan before you take delivery of your new car.

 

Types of Cheap Car Loans?

Car deals have traditionally offered a product called hire purchase; this is a product that is secured against the car and not you personally. Hire purchase allows the dealer of build a profit margin into the loan agreement with margins of between £400-£1,000 not being uncommon.

 

How to compare Loans?

Car dealers will often quote you the FLAT RATE; this is the interest amount per annum and not the APR which is the total rate you pay. Always ask for the APR in order to allow you to compare rates accurately.

We would recommend going for a cheap personal loan through our partner even if you decided to buy a new car from your local dealer as your local dealer will not be able to compete, unless there is a manufacturer’s special finance offer in place.

More and more car buyers are obtaining a cheap car loan online before going in to face the car dealer as this will more often than not save you more money.

There are two types of Personal Loans available in the market today.

1) Personal unsecured loan - Available from our partner.
2) Personal secured loan - Similar to the above that can be obtained for a longer period and is secured against your home.

Alternative methods of financing a car purchase include Personal Contract Plans, Contract Hire and Hire Purchase. See the car leasing section for more details.

 

 

 

 

*Finance is provided, subject to status, by our finance partners. We would recommend you confirm your finance eligibility prior to placing an order with us through equifax.co.uk or experian.co.uk. If you place an order with us for finance and you are rejected on finance our fee will not be refundable. To apply, you must be at least 18 years old and a UK resident (excluding the Channel Islands and the Isle of Man). If you exceed the agreed contract mileage, there will be an excess mileage charge which will not exceed 23p per mile. In addition, you will be liable to pay for any accidental damage to the vehicle or excess wear and tear, with regard to its age and mileage