Can I Apply for a Unsecured Personal Loan?

Tim Carpenter
Written by Tim Carpenter

Once limited to your high street bank or building society, personal loans are nowadays offered by many different lenders.

Thanks to our partnerships with a wide range of such providers, we are able to offer competitive rates on unsecured personal loans – loans which allow you to buy a car outright, for your immediate ownership, and without your borrowing needing to be secured against the vehicle itself.

But not everyone’s financial circumstances are the same. If you have had trouble managing your debts, received county court judgments (CCJs) against you, entered Individual Voluntary Arrangements (IVAs) with your creditors, or ever been bankrupt, your credit score is likely to have been negatively affected. That is when it might prove more difficult to obtain a personal loan – especially since the borrowing is unsecured. If you believe your credit score has been negatively affected by previous issues with your borrowing, we may still have an unsecured finance option available for you, which is that of a guarantor loan.

The good news is that at CarFinance 247 we have car, motorbike, van and motorhome finance options suitable for those with credit scores ranging from poor to excellent. So while you may find that a personal loan isn’t quite right for you, you may find that one of our hire purchase agreements is much more suitable.

At CarFinance 247, you can choose a vehicle from any reputable dealership in the UK! If you do have good credit and opt for a personal loan agreement, you are then also given the option of using the funds to finance a private sale too, should you find your perfect vehicle being advertised privately.

Get a quote
No impact on your credit score
Rates from 6.9% APR. Representative APR 24.9%

Liked by 4 People

5 years
Total cost of credit £ 2000
Total repayment £ 2000
48 monthly
payments of
£ 245 98

Rates from 6.9%: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £6,500 over 5 years with a representative APR of 24.9%, an annual interest rate of 24.9% (Fixed) and a deposit of £0.00, the amount payable would be £181.16 per month, with a total cost of credit of £4,369.52 and a total amount payable of £10,862.52.

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* The UK's number one online car finance broker by unique users to the website. Based on Hitwise data – 1,746,657 to CarFinance 247 vs. 666,020 for nearest competitor. January to December 2019.

96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019.

CarFinance 247 is a trading name of CarFinance 247 Limited, a credit broker and insurance intermediary, and 247 Money Group Limited (247 Money), a lender. Both companies are part of the 247 group of companies.

CarFinance 247 is authorised and regulated by the Financial Conduct Authority under reference number: 653019. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 06035525. Data Protection Registration Number Z1897658.

247 Money is authorised and regulated by the Financial Conduct Authority. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 10989530. Data Protection Registration Number ZA456831.

All finance is subject to status and income. Written quotations on request. CarFinance 247 can introduce you to a limited number of finance providers, including 247Money, based upon your credit rating and will receive commission for such introductions.

† We do not charge a fee for arranging the finance, however some of our lenders may charge a fee. Your account manager can provide more information on this

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