Autotrader car finance united kingdom

In the recent years, there has been a rise in the number of loan arranging companies online like Autotrader and Money Supermarket. autotrader financeAutotrader offers a complete range of services which starts from helping individuals find new cars and used cars.

The company also helps customers find auto loans of various kinds, comparison tools, free quotes and application for the car finance options available to them. Autotrader has a tie up with several well known loan providers and finance companies in the UK today which enables it to offer a wide range of options and auto loans to its customers. Some of the main car credit options available at Autotrader are:

Unsecured personal loans for cars

Autotrader offers unsecured personal loans from various well known lenders in UK like Alliance Leicester, Barclays, Bank of Scotland, RBS, Halifax,car loans advice pic Bank of Ireland, Natwest, Lloyds TSB, Nationwide, HSBC and various others.

These are the loans which would be provided to the borrowers based on their ability to pay monthly repayments. No collateral or security would be required. The loan term and the monthly repayments would be fixed for the duration. One of the benefits of this type of auto loan is that you would have the ownership of the car instantly. You can sell the car at any time you want.

In most cases, Autotrader offers you loans which you can repay early without having to worry about a penalty payment. It also offers flexibility loans where you can have breaks in the repayments. The loans that are offered by the company range from GBP 500 to 15,000. Another great option offered by Autotrader is the deferred loan where you can have lower instalments and a balloon payment at the end of the term.

Secured loans car financing

Autotrader also offers secured loans where you would have to provide collateral if you wish to borrow a larger amount of money for a longer term. You would also be able to enjoy the benefit of having lower monthly payments compared to the unsecured loans. The drawback with secured loans is that if you fail to make the payments timely, the security offered as collateral can be repossessed.

Personal contract purchase

Autotrader offers you personal contract purchase where you can enjoy the benefits of car leasing and have lower monthly payments. Typically, for a GBP 20,000 car, you would have to pay a deposit of GBP 6,000, there would be 36 instalments of GBP 250 and a final payment of GBP 5,000 at the end of the term to gain ownership of the vehicle.

Hire purchase for cars

Some of the dealers that have a tie up with Autotrader also offer a hire purchase plan where you would a have a pay a bigger deposit at the beginning of the term and smaller monthly payments. The ownership of the car would be yours when you pay the last monthly payment. You would also find a car finance calculator if you want to calculate your monthly instalments.