How does a car loan work?
A car loan is a linked credit agreement: it is tied to the purchase of a specific vehicle, from a dealer or a private seller. If the sale is cancelled, so is the loan. You are protected.
The rate is fixed and the monthly payment constant. You own the vehicle from the day of purchase, unlike a lease with an option to buy (PCP) or long-term leasing.
Which vehicles can be financed?
- New carBought from a dealer or a broker.
- Used carFrom a dealer or a private seller.
- Electric and hybridFinancing compatible with purchase incentives.
- Motorbike, scooter, motorhomeTwo-wheelers and leisure vehicles.
How it works
Car & motorbike loan: the steps
- STEP 1
Your project
Tell us which vehicle you want and how much you need.
- STEP 2
The review
An adviser analyses your budget and any deposit.
- STEP 3
The offer
You receive a clear offer, including APR and total cost.
- STEP 4
The purchase
The funds are paid to the seller, and you hit the road.
Good to know
What you need to know before committing
Amounts and terms are indicative, subject to approval of your application by the lender.
- Loan cancelled if the sale falls throughA linked credit agreement is automatically cancelled if the vehicle is not delivered.
- 14 days to change your mindThe withdrawal period runs from the date you sign the offer.
- No deposit requiredA deposit can reduce the total cost, but it is not compulsory.
Can I finance a used vehicle bought from a private seller?
Yes. A used vehicle can be financed whether it is bought from a dealer or a private seller. Your adviser will tell you which documents the lender requires (purchase order, registration certificate…).
What happens if the sale is cancelled?
As a car loan is a linked credit agreement, it is cancelled if the sale does not go ahead or the vehicle is not delivered. You have nothing to repay.
Car loan or lease with option to buy: which to choose?
With a car loan, you own the vehicle from the day of purchase and can sell it whenever you like. A lease with option to buy is a rental with an option to purchase at the end of the contract. The right choice depends on how you use the vehicle and how long you plan to keep it.
Our other solutions
Another project to finance?
Personal loan
A sum you can use freely, with fixed monthly payments throughout the term.
Learn more →Mortgage
Main home, second home or buy-to-let: rate, insurance and guarantees negotiated.
Learn more →Home improvement loan
Renovation, extension, energy upgrades: add value to your home.
Learn more →Debt consolidation
A single monthly payment that fits your budget. A longer term may increase the total cost.
Learn more →Business financing
Start-up, growth, equipment or cash flow for entrepreneurs.
Learn more →A project to finance?
Apply online. An adviser will get back to you within 24 working hours.