Car Loans from Libra Finance

 

There are a variety of car loans available to UK residents, making it easier for those who have an unreliable car – or no car at all – to get a reliable vehicle at an affordable price. Taking out car loans enables you to get some pretty good interest rates and depending on your circumstances, credit history, cost of your chosen vehicle and where you are buying from, you’ll have a few options with regards to auto finance.

I'm a home owner / mortgage payer*

If you own your house or are the mortgage
payer, then you may be able to benefit from
low monthly repayments...

I'm a tenant or renter

If you don't own your own home or pay a
mortgage, then we can still help with a loan
of up to 15k.

 

If you are planning to buy a car and keep it for a more than four years then you may find that a HP (Hire Purchase) agreement is your best option for financing your vehicle. HP car loans are a little like secured loans, in that the car will remain the property of the lender until you have made the final payment – so effectively if you don’t meet the payments you could lose the car. You will be able to get HP auto loans from UK car dealers as well as the bank and building societies.

 

Another option is, of course, a straight UK bank loan. Whether or not this is a viable option will depend on your credit history, as you may get turned down for this type of loan if your credit is poor. However, you should still be able to look at one of the other auto loan options, even with a less than perfect credit.

 

Another form of financing your car is through a PCP (Personal Contract Plan). This may be the loan for you if you are planning to change your car at the end of the plan. Although you may have to put down a large deposit on this type of plan, the monthly repayments for your vehicle are likely to be quite low. At the end of the period, you can then hand the car back.

 

A PCH is quite an unusual form of vehicle financing. With these loans, you pay a lower deposit and a higher monthly fee for your vehicle. However, all maintenance costs are also covered by this plan, so you won’t have to worry about additional feed for repairs, wear and tear etc.

 

And finally we have lease purchase agreements, which are quite similar to HP loans in nature. A final payment and a deposit in the vehicle are agreed in advance, and depending on what those figures are your monthly payments can vary. The more you agree to as a deposit and final payment, the lower your monthly payments will be.

Other stipulations on the variety of auto loans may include where you buy your car from, the type of vehicle your buy and how old the car is. But there is a wide choice for consumers and you can even get deals on refinancing current ongoing auto finance to get a better deal on interest and repayments.

Libra Finance UK

a range of loans for any purpose

fast decision from our courteous staff

available up to 2.5 million

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OUR TYPICAL, VARIABLE RATE IS 10.9% APR. RATES RANGE FROM 7.4% APR to 27.60% APR THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.