Car loans at competitive APRs and affordable payments

Do you need a car? Whether you buy a used car or a new one, car financing will help fulfil your dream. Is lack of funds tormenting you? Shrug off your worries because we provide car loans at competitive interest rates. Small monthly payments are much more affordable to own a car. Take to the road whenever you want and get the title (ownership) after paying back the loan.

If you have decided on a car model, you are all set to apply for auto loans. Fill out the application form and get pre-approval within a couple of minutes. Once you qualify, you get funds at once.

Repayments are the vital part of a loan process. We expect that you repay the loan on the surety of your income status. Once you convince us, we bring car finance on instant decision.

Car finance deals we offer

Car finance comes in three different types. You can choose any of them that suit your budget. However, as a responsible car finance lenders, we will also look over your financial history to make sure that you do not struggle with payments.

These three types are:

  • Personal loans
    You can finance your car with personal loans. As the name suggests, there is no requirement for collateral. You own the car as soon as you make the payment to a car dealer. You will pay back the money over months. The length of the loan depends on the amount you will borrow.
  • Hire purchase
    Hire purchase requires you to make down payment. Most of the lenders set it as minimum as 10%, but we will let you sign into it even if you pay 5% of your car’s value upright. You will pay fixed monthly instalments throughout the term, which is generally between 1 and 5 years.
  • Personal contract purchase
    Personal contract purchase is similar to hire purchase, but you will have to pay down 10% upright as a down payment. Monthly instalments will be smaller than hire purchase agreement, but the last payment will be bigger. You can say it as a balloon payment. The length of the loan is between 2 and 7 years.

To apply for car loans, you need to be the citizen of the UK, have a functional bank account and must be employed.

Personal Loans Hire Purchase Personal Contract Purchase
Fixed monthly payments Yes Yes Yes
Deposit size No Minimum 5% Minimum 10%
Balloon payment No No Yes (Last payment at the end of the term)
Title grant Yes No (until final payment) No (until final payment)
Excess mileage charges No No Yes
Wear and tear charges No No Yes
Length of the contract 1-3 years 1-5 years 2-5 years
Secured against the car No Yes Yes

How much does car finance cost?

Following are the factors that affect the cost of a car loan.

  • Down payment
    A higher deposit means reduced loan-to-value. The lower the amount you borrow, the lower the interest rate will be. We assure you that our annual percentage rates are more competitive than other direct lenders.
  • Your credit history
    Your credit report plays a paramount role to decide how much the loan will cost you. You will likely get a deal at attractive interest rates with good credit standing. The higher the credit score, the lower the interest rate will be.
  • Type of the loan
    Each loan has its pros and cons. You should consider your financial situation before clinching a deal. If you are not able to decide which suits your budget, take guidance from a financial counsellor. Whatever the way you finance your car, make sure that you will be able to pay it back.
car loans

Can you apply for car loans with bad credit?

Financing a car with bad credit can be tough, but we invite applications from bad credit borrowers. Since there is a possibility of committing a default, you will get the loan at a bit higher interest rates.

At Safe Money Loan, you can get bad credit car finance deals at competitive interest rates if you deposit larger funds upright.

  • The down payment size will be 10% if you sign hire purchase agreement.
  • The down payment size will be 15% if you sign a personal purchase contract.

Will I Receive Loan Approval on the Same Day?

We are among those direct lenders in the UK, which belong to modern-day lending. We have made loan process digitalise and bring every comfort for our borrowers.

The online process of bad credit car finance from direct lender like us ensures quick funding reach with no hassle of paperwork. The process includes following steps:

  • Apply online by filling out an application form
  • Put all the mandatory details on the form and submit it
  • Wait for the approval for a few minutes
  • Receive funds on the same day

That’s it!

Follow the procedure sincerely and be eligible for 100% guaranteed car finance available on the same day.

Why are our car loan deals better than other mainstream lenders?

Borrowers apply for no credit check loans when they have a poor credit rating to avoid further decline in credit score, but direct lenders allow you to avail this facility for short-term loans. No lender will approve your application without perusing your credit score. Even if you are applying for car finance for bad credit, mainstream lenders will run a hard credit check.

We understand that hard inquiries pull your score, lowering your chances of borrowing money in the future. This is why we run soft inquiries, where approval is almost there irrespective of any credit score. We will check your credit report, but it will not pull your credit score. With soft or no credit check, we will be able to determine your affordability without damaging your credit score.

Here are some other benefits you can avail with us.

  • We do not charge a prepayment penalty.
  • We can extend the due date in case of an emergency. Make sure you inform us earlier.
  • We do not charge processing fees.

Do you want to finance your dream car? Come and grab our bespoke offer on instant and guaranteed car finance from Safe Money Loan.

Hassle-Free Process
No Hidden Charges
Dedicated Lending

24/7 Available

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