If you're looking for a car finance deal, check out our selection of the top car loan providers. Read our reviews, and compare deals.
Best Car Loan Providers
Like every form of personal finance, there are countless options when it comes to car finance loans!
- Hire purchase vs PCP?
- In-house finance or a third-party deal?
- Fixed interest rate or flexible loan?
- Fixed monthly repayments?
If you're desperate to get your new wheels on the road, it's easy to be sucked into inappropriate car financing, especially if you're reliant on equity to trade in your vehicle for a new model, so picking the right car loan is essential for your new or used car.
Best10Scout provides fully independent reviews of the best car loan lenders out there to help you make quick decisions that'll stand you in good stead.
Choosing the Right Car Loan
Car loans are often called motor finance, car sales services or car finance, but it's all pretty much the same thing - a credit account where you borrow the capital you need to pay for a new car.
Now, this personal loan isn't reserved for brand new cars you're driving out of the showroom and can be an affordable way to buy second-hand vehicles, work vans or anything else you need to get out and about.
It's massively important you know what your total repayments will be, how long the loan term runs, whether you have any extra admin fees or early exit penalties rolled up in your credit, and whether there are any penalties if you pay off your car loan early.
(Quick tip: Most of the best car finance companies have a car loan calculator, so you can forecast your exact loan amounts, and how much your monthly payments are likely to be.)
These factors can have a major impact if you decide to sell or chip your car in for something new.
Finding a Competitive Car Loan Product
As an independent reviews team, Best10Scout is all about providing sufficient information and guidance so you can select the right provider for your needs.
With this in mind, let's run through some of the car loan products we include in our top ten car loan ratings:
- Hire purchase car loans: where you 'borrow' the car, paying a deposit and then monthly payments until you've paid the total purchase price, plus the car loan interest rate. Great for people who want to spread the cost over time, with a fixed monthly payment.
- Personal finance car loans: similar to regular personal loans, normally secured against the vehicle and commonly offered by dealerships as their in-house financing option.
- Personal contract purchase (PCP) car loans are like hire purchase, but you pay for the car over three to five years. When you get to the term-end, you can either return the vehicle for a replacement and rollover your agreement or take out financing to pay back the balance owing.
Unsure which option is right for you? Thinking perhaps something as simple as a Sainsbury's bank loan will do the job? Well, maybe it will, maybe it won't. So please look through our recommendations to discover those car loan lenders that come out as best in class.
Best Car Finance Companies UK
Personal finance is a big deal, and you want to be confident you've chosen one of the best banks for car loans, such as a Sainsbury car loan.
Sainsbury's UK Car Finance Company, for example, is a leading UK based bank providing car finance in the United Kingdom. They offer competitive rates and flexible terms to help customers find the right car finance package to suit their individual needs. Sainsbury's car loan customers can access a range of options, including both secured and unsecured personal loans, hire purchase agreements, personal contract purchases, and lease agreements.
The team at Sainsbury's are experienced financial advisors who will take the time to discuss your requirements and develop a tailored solution that meets your individual circumstances. And with the car loan calculator Sainsburys will tell you how much you can borrow. The company also provides a wide range of additional services such as free vehicle valuations, credit checks and advice on insurance cover.
Whether you're looking for a new or used car, Sainsbury's UK Car Finance Company has the expertise and experience to help you get the best value on your next vehicle purchase.aren't paying over the odds in interest, and ultimately have an affordable loan that will keep you driving.
Best10Scout reviewers are entirely independent and conduct in-depth assessments of the value for money, customer support, product varieties and reliability of the best car loan lenders on the market.
Please visit our reviews for an insight into any car loan product you're considering, with exclusive deals and discounts for our highest recommended car loan providers.