Flexible finance
at a speed that
suits you
from first cars to flash cars, we’ll find
the right deal for you.
Representative Example
Borrowing £5,500 over 48 months with a representative APR of 19.8%, the amount payable would be £163 a month, with a total cost of credit of £2,283 and a total amount payable of £7,783.
Click Car Loans is a credit broker, not a lender. Our rates start from 6.9% APR. The rate you are offered will depend on your individual circumstances.
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A Personal Loan allows you to borrow a set amount of money over a set period, with fixed monthly repayments.
A Personal Loan is the best option if you’re certain you want to own your car, but you’d prefer to pay it off in manageable monthly instalments. A poor credit score means you’re less likely to be accepted for a Personal Loan.
Do I need a deposit on Personal Loan car finance?
No. Because a Personal Loan is not secured against your vehicle, you do not need to put down a deposit.
How does Personal Loan car finance work?
Personal Loans are agreed between a customer and a lender, and they are not secured against the car you buy. This means that you can use a Personal Loan to buy a new or used car, which you will own straight away.
Because you will own the car from the beginning of your agreement, you are not restricted by any maximum mileage, and you’re free to modify the vehicle in any way you like.
If you have a bad credit score, you are less likely to be acceptable for a Personal Loan, which means one of our other finance options may be more suitable for you.
Will I own the car at the end of a Personal Loan car finance agreement?
Because a Personal Loan is not secured against the car, you can treat the amount you’ve borrowed like cash. As soon as you have finalised your agreement with the dealership, and the money has left your account, you will legally own the car.
Can I end a Personal Loan agreement early?
You can cancel a Personal Loan at any time by paying off the full settlement amount. This means paying the lender whatever amount is left on the loan, without any additional interest the loan would have accumulated if you used the full term to pay it back. Because you legally own the car from the beginning of the agreement, you always have the option of selling it to repay the loan.
If you’d like to cancel your agreement, you need to find out how
much is left to pay. Once the lender has confirmed the amount you have left to pay on your Personal Loan, you will have 28 days to pay off that amount.
You may also ask for a partial loan settlement at any time. This means paying a lump sum off your Personal Loan but keeping the agreement in place to pay back the rest. This will affect the length of your Personal Loan, and will also affect the interest total.
