Car Loan Providers
Like every form of personal finance, there are countless options when it comes to taking out a car loan!
- Hire purchase vs PCP?
- In-house finance or a third-party deal?
- Fixed interest or flexible loan?
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.
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, these loans aren'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, and whether you have any extra admin fees or early exit penalties rolled up in your credit.
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, Best10Index 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 instalments until you've paid the total purchase price, plus interest. Great for people who want to spread the cost over time, with a fixed monthly payment.
- Personal finance car loans: similar to a regular personal loan, 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? Please look through our recommendations to discover those car loan lenders that come out as best in class.
Independent Car Loan Provider Reviews
Personal finance is a big deal, and you want to be confident you've chosen a car loan from a reputable lender, aren't paying over the odds in interest, and ultimately have an affordable loan that will keep you driving.
Best10Index 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.